benefits
Life and AD&D Insurance
staying prepared is key. Whether it’s life’s curveballs or unexpected hurdles, having life insurance and accidental death and dismemberment (AD&D) insurance provides a financial safety net for whatever comes your way. With basic coverage automatically included at no expense to you, life insurance ensures your beneficiary receives a predetermined amount in the event of your passing, while AD&D insurance offers benefits if you encounter dismemberment or death due to an accident.
Life Insurance
Diversified has got your back with 100% employer paid Basic Life and AD&D insurance based on your annual salary. Ensure you are fully covered with our additional buy up coverage options for you and your family.
- you are automatically enrolled for one times your covered annual earnings up to $500,000.
- If you are terminally ill, you can get a partial payment of your group life insurance benefit to use as you see fit.
- AD&D pays you and your beneficiary a benefit for the loss of life or other injuries resulting from a covered accident.
Additional Coverage Options
Employee Optional Term Life
You may increase your life and AD&D coverage beyond your employer paid coverage by purchasing additional life and AD&D insurance up to a max of $500,000.
If enrolling when first eligible, you may elect up to the guarantee issue amount of $100,000 without providing proof of good health to Prudential.
During annual open enrollment, if currently enrolled, you may increase your existing coverage by $100,000 up to the total of the guarantee issue amount without providing proof of good health.
The premium for your optional coverage is determined by your elected coverage and age.
Spouse Life Insurance
Coverage options for your spouse are available in increments of $25,000 up to a max of $250,000. The optional life coverage amount purchased on your spouse cannot exceed 50% of your combined Basic and Optional term life coverage amount.
If enrolling your spouse when first eligible, you may elect up to the guaranteed issue amount of $25,000 without providing proof of good health to Prudential.
The premium for your elected spouse life coverage is determined by the elected coverage and your age.
Child Life Insurance
Purchase $10,000 in coverage for your children. The premium of child life insurance is $11.88 annually and covers all eligible children under one policy.
How Much Life Insurance Do You Need?
Life insurance serves as an agreement between you and your insurance provider. Simply put, in exchange for premium payments, once you’re gone, the insurer dishes out a lump sum payment, aka the death benefit, to your beneficiaries.
Your beneficiaries can use the money for whatever purpose they choose. It might mean keeping the lights on, wiping out the mortgage, or putting a child through college. Having a safety net with life insurance, you can ensure your loved ones will not be struck with a financial burden.
Did you know...
It’s crucial to designate beneficiaries when setting up or managing life insurance benefits and retirement accounts. A beneficiary refers to an individual or entity, such as a trust, designated to receive assets after your passing.
Failing to name beneficiaries on your policies or update outdated information leads to major complications for both yourself and your heirs in the future.
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Estimate
This simple calculator will give you an idea of how much coverage you may need. Chat with a financial advisor before finalizing decisions.
Money Saving Tips
To stretch your dollars, remember to:
Speak with a Financial Advisor. Connect with a financial advisor to ensure you are on track to meet your financial goals.
Don’t forget about your Employer Provided Coverage – Keep in mind the life insurance coverage Diversified provides you free, when determining your total coverage need.
Beneficiary designations are crucial ot ensuring your money does not get tied up in probate court. Update your Prudential Life Insurance beneficiaries in UKG.