Life and Accident Insurance

Life insurance helps provide financial protection for your loved ones in the event of your death. Segal provides basic life insurance coverage automatically to eligible employees. For additional protection, you may elect optional supplemental life, dependent life and/or accidental death and dismemberment (AD&D) coverage.

Basic life insurance

Basic group term life insurance is provided by Segal at no cost to you. You may elect coverage equal to one times your covered earnings, rounded to the next higher $500, up to a $50,000 maximum, or you may choose flat $5,000 coverage. When you make your life insurance election, you name your beneficiaries.

If you elect coverage of one times your covered earnings, your coverage is reduced beginning the January 1 following your 65th birthday, as shown below, but will not be reduced to less than $10,000:

• Age 65: Coverage reduces to 65% of the amount then in effect.
• Age 70: Coverage reduces to 40% of the amount then in effect.
• Age 75: Coverage reduces to 25% of the amount then in effect.

Supplemental life insurance

You may elect to purchase supplemental life insurance coverage for yourself of up to four times your salary in $10,000 increments, up to a $1,000,000 maximum. To purchase supplemental coverage, you must elect basic life insurance coverage equal to one times your covered earnings ($50,000 maximum).

Supplemental coverage up to the lesser of three times your salary or $400,000 is guaranteed without providing evidence of insurability (EOI) if you’re newly eligible to enroll in Segal benefits for the first time. If you’re increasing coverage or electing coverage after previously waiving it, you’ll be subject to evidence of insurability.

Dependent life insurance

If you elect supplemental life insurance for yourself, you may elect to purchase coverage for your spouse or spousal equivalent of up to the lesser of 50% of your coverage or $50,000, in $10,000 increments. Coverage of $10,000 is guaranteed without providing evidence of insurability (EOI) if you’re newly eligible to enroll in Segal benefits for the first time. If both you and your spouse or spousal equivalent are employed by Segal, coverage may be elected as either an employee or a spouse, but not both. If you’re increasing coverage or electing coverage after previously waiving it, you could be subject to evidence of insurability.

In addition, you may purchase $10,000 of coverage for each dependent child under age 26.

AD&D insurance

AD&D insurance provides benefits if you or your covered family members are seriously injured or killed in a covered accident. You may elect to purchase AD&D coverage for yourself and your eligible family members:

• Yourself: Up to the lesser of four times your salary or $1,000,000, in $10,000 increments
• Your spouse or spousal equivalent: The lesser of 50% of your coverage or $50,000, in $10,000 increments
• Dependent child(ren) under age 26: $10,000 per child

Paying for coverage

Segal provides enough benefit credits to purchase employee supplemental life insurance equal to one times your covered earnings at the nonsmoker rate. Additional coverage is paid at a monthly rate per $1,000, based on your age and smoking status. You pay the full cost for dependent life and for AD&D coverage.

Empathy Bereavement Services

Services include:

• Grief counseling: Licensed social workers are available to listen and give support.
• Funeral planning: Detailed instructions and on-demand assistance are available to manage the logistics of funeral planning, burial, cremation and other related services.
• Account deactivation: Get help closing unneeded financial accounts, memberships and subscriptions.

Register at join.empathy.com/hartfordinsured-ny or call 720-796-4832 to get started.

Resources

Life and AD&D Insurance
7 Tips on Choosing a Beneficiary
Empathy Bereavement Services (for you if your loved one passes away)
Empathy Bereavement Services (for your beneficiary if you pass away)

Contact

The Hartford
thehartford.com/benefits/enroll
855-396-7655