Group Term Life and AD&D Insurance
Benefit Overview
Benefit
- $50,000 basic life insurance at no cost to teammates.
- Additional 2x earnings in excess of $50,000 is offered at 50% cost share up to a maximum benefit of $500,000.
- Guarantee Issue at hire to a maximum of $500,000.
- Coverage is reduced by 35% at age 70, and an additional 20% at age 75.
- Includes an Accidental Death & Dismemberment (AD&D) benefit which provides additional benefits.
- Coverage may be continued under a group portability certificate, or an individual conversion life certificate in the event of termination from employment.
- Please note that the insurance contract includes an Actively at Work provision for first time enrollees which means the full-time performance of all customary duties of an teammate’s occupation as of the date of coverage.
Summary Of Benefits Documents
Contact & Additional Information
Brown & Brown offers all eligible teammates group term life insurance insured through The Hartford. If benefit is elected during your initial enrollment period, no medical information is required. If you do not elect coverage during your initial enrollment period, you may enroll during open enrollment; however, Evidence of Insurability (EOI) may be required and processed through underwriting.
Term to Know—Imputed Income:
The cost of GTL coverage over $50,000 is subject to imputed income. This means it’s included in your taxable income and reported on your W-2 form. If you select this benefit, you will notice a GTL accumulator on your pay voucher, which tracks this amount.
For detailed information on the GTL/AD&D insurance program, please review The Hartford benefits highlight sheet and the Summary Plan Description posted on The Spot.
For assistance or additional information, contact:
The Brown & Brown Team Resources Center
Call: 1-866-505-0991 (Press 1) or Email [email protected]
Voluntary Term Life and AD&D Insurance
Benefit Overview
Benefit
- Available in 1 to 8 times earnings to a maximum of the lesser of 8 times earnings or $1,000,000; minimum is $20,000.
- Premium is based on age and smoking status.
- Benefit is based on annual earnings. Refer to the Summary Plan Description posted on The Spot for details.
- Guaranteed Issue at hire to a maximum of $1,000,000.
- Coverage is reduced by 35% at age 70, and an additional 20% at age 75.
- Coverage can be converted or ported in the event of termination from employment.
Spousal Coverage
- Available only if teammate elects voluntary term life insurance (this coverage operates independently of GTL).
- Premium is based on spouse’s age & smoking status.
- May purchase up to 50% of teammate coverage, up to a maximum of $150,000 in $10,000 increments.
- Guarantee Issue is up to $150,000 if elected during initial enrollment.
- Coverage is reduced by 35% at spouse age 70, and an additional 20% at spouse age 75.
Child Coverage
- Available only if teammate elects voluntary term life insurance (operates independently of GTL).
- $20,000 life only (AD&D coverage does not apply) benefit level per child; birth to age 26.
Premium
The teammate and spouse premiums are based on age and smoking status. When you enroll on-line the cost will automatically be calculated; however, you can call the Team Resources Center at 1-866-505-0991 (Press 1) for an estimate of your pay period premium.
Please note the insurance contract includes an Actively at Work provision for first time enrollees which means the full- time performance of all customary duties of a teammate’s occupation as of the date of coverage. Dependent coverage will be delayed if the dependent is in a period of limited activity, which means the dependent is unable to perform the regular and usual activities of a healthy person of the same age and sex. For detailed information and rates on the VTL/AD&D insurance program, please review The Hartford benefits highlight sheet and the Summary Plan Description posted on The Spot.
Summary Of Benefits Documents
Contact & Additional Information
The Voluntary Term Life and AD&D is insured by The Hartford. If you elect coverage for yourself you then may also elect coverage for your spouse and/or dependent children. You cannot be covered more than once under the Plan. If covered as a teammate, you cannot be covered as a dependent. No medical information is required if benefit is elected during your initial enrollment period. If you do not elect coverage for yourself or your dependents during your initial enrollment period, you may enroll during open enrollment; however, Evidence of Insurability (EOI) may be required and processed through underwriting.
For assistance or additional information, contact either:
The Brown & Brown Team Resources Center
Call: 1-866-505-0991 (Press 1) or Email [email protected]
Personal Accident AD&D Insurance
Benefit Overview
Benefit
You may choose one of four options; spouse and child(ren) coverage available with teammate election. Your cost will depend on the option and benefit amount you select.
- Option 1 – Teammate Only: Select from $25,000 to $1,500,000 of coverage in units of $25,000. Maximum coverage cannot be more than 8 times your annual salary.
- Option 2 – Teammate & Spouse Coverage: Spouse’s benefit amount will be 60% of teammate’s and cannot exceed $600,000.
- Option 3 – Teammate, Spouse & Dependent Child(ren) Coverage: Spouse’s benefit will be 50% of teammate’s, not to exceed $600,000. Each covered child’s benefit will be equal to 20% of teammate’s benefit amount; not to exceed $100,000 per child. The premium is the same regardless of the number of children covered.
- Option 4 – Teammate & Dependent Child(ren) Coverage: Each covered child’s benefit will be equal to 25% of teammate’s benefit amount. The benefit amount per child cannot exceed $100,000.
- Coverage can be elected to cover a lawful spouse until the end of the year the spouse turns 99, and any unmarried dependent child(ren) from live birth until the end of the calendar year in which the child reaches age 26.
- No one may be covered more than once under this Plan. If covered as a teammate, you cannot be covered as a dependent.
- Identity Theft Resolution Services included at no additional cost.
Summary Of Benefits Documents
Contact & Additional Information
Brown & Brown offers this program through New York Life. Accidental Death and Dismemberment (AD&D) insurance can help you pay expenses if you, your covered spouse or children are seriously injured or killed in a covered accident. For detailed information on the Personal Accident AD&D insurance program, please review the benefits overview and the Summary Plan Description posted on The Spot.
For assistance or additional information, contact:
The Brown & Brown Team Resources Center
Call: 1-866-505-0991 (Press 1) or Email [email protected]