Life and AD&D Insurance
Basic Life and AD&D
Life and AD&D coverage helps protect your loved ones in the event of your death or serious injury. Even if you’re single, your beneficiary can use your Life insurance benefits to pay off your debts, such as credit cards, mortgages, and other final expenses.
Basic Life insurance pays your beneficiary a lump sum if you die. AD&D (Accidental Death & Dismemberment) provides another layer of benefits to either you or your beneficiary if you suffer from loss of a limb, speech, sight, or hearing, or if you have a fatal accident. The cost of coverage is paid in full by the company. Coverage is provided by The Hartford.
To get started with The Hartford, visit their website or download the app via the Apple App Store or Google Play Store.
For information on how to contact each vendor, download the vendor app, navigate to the carrier’s website, or click Plan Contacts.
Basic Life and AD&D
Basic Life: 2x annual salary (rounded to the next higher $1,000) up to a maximum of $1,000,000
Basic AD&D: 2x annual salary (rounded up to the next higher $1,000) up to a maximum of $1,000,000
A note about taxes: A Life insurance benefit over $50,000 is considered a taxable benefit. You will see the value of the benefit over $50,000 included in your taxable income on your paycheck and W-2.
Make sure that you have named a beneficiary for your Life insurance benefit and update it if your family or marital status changes.
Imputed Income: Under current tax laws, imputed income is the value of your Basic Life insurance that exceeds $50,000 and is subject to federal income, Social Security and state income taxes, if applicable. This imputed income amount will be included in your paycheck and shown on your W-2 statement.
For more information, contact The Hartford at 888-563-1124 or visit the website at thehartford.com.