Life and accidental death and dismemberment (AD&D) provides your beneficiary with a sum of money in the event of your death. Brightpoint provides group life insurance at no cost to you. You can purchase additional coverage for you and your eligible family members for added protection (refer to Voluntary Life and AD&D). The Life and AD&D plans are administered by BlueCross BlueShield of IL.
Group Life and AD&D (paid by employer) | |
Base Life and AD&D | 2x annual base salary per employee – Life 2x annual base salary per employee – AD&D |
Guarantee Issue Amount | Lesser of 2x annual earnings or $375,000 |
Maximum Benefit Amount | $750,000 |
Reduction Schedule | Benefits reduce by 35% of the original amount at age 65, 55% of the original at age 70, and 80% of the original amount at age 80 |
All full-time employees may purchase additional life insurance for yourself, your spouse and/or your child(ren). Costs are determined on group discounted rates. Always make sure your beneficiary information is updated.
Voluntary Life and AD&D (paid by employee) | |
Employee Benefit | Increments of 1-4x Annual Salary, up to $750,000 Guarantee Issue: $300,000, not to exceed 3x salary |
Spouse Voluntary Life Amount | Increments of $5,000 to $50,000 not to exceed 50% of Employee’s Benefit. The spousal coverage terminates when the employee reaches age 70 Guarantee Issue: $25,000 |
Child(ren) Voluntary Life Amount – age 14 days old to 26 years | Children 15 days to 6 months: $5,000 Age 6 months to 26 years: Increments of $5,000 to $10,000 |
Employee Age Reduction | Benefits reduce by 35% of the original amount at age 65, 55% of the original at age 70, and 80% of the original amount at age 80 |
Age Band | Employee + Spouse Monthly Rates per $1,000 |
Under 30 | $0.069 |
30-34 | $0.080 |
35-39 | $0.100 |
40-44 | $0.158 |
45-49 | $0.329 |
50-54 | $0.520 |
55-59 | $0.860 |
60-64 | $1.220 |
65-69 | $2.110 |
70+ (EE only) | $3.150 |
AD&D Rate | $0.02 |
Child Rate | $0.202 |
Annual enrollment will allow employees and spouses currently enrolled in Voluntary Life, to increase up to one increment, if they do not go over the Guarantee Issue amount listed above.
Any purchase of increase of voluntary life benefits which does not take place within 31 days of employee’s or dependents’ eligibility effective date is subject to evidence of insurability.
Please click this link https://groupadmins.hcsc.net/eoi/#!/public/instructions to complete the Evidence of Insurability form online.