Life and AD&D

Home Your Benefits Life and AD&D

Life and Accidental Death & Dismemberment (AD&D) insurance provides financial support to your loved ones if the unexpected happens. Your coverage through The Standard includes a basic plan provided at no cost to you, with the option to elect supplemental coverage for yourself and your family. 

Basic Life and AD&D Insurance

Ferrotec provides employees with Basic Life and AD&D insurance to ensure your beneficiaries receive financial support in the event of your death or a covered accidental injury or loss. This coverage is automatically provided — at no additional cost to you.

Feature
Basic Life and AD&D
CostCompany-paid
Life benefit amount1x annual earnings (up to $250,000)
AD&D benefit amount1x annual earnings (up to $250,000)
Payable toYour designated beneficiary

Additional Life and AD&D Insurance

You can choose to add extra protection for yourself and your family with additional Life and AD&D insurance. This optional coverage allows you to increase your benefit coverage level and add your spouse and eligible children. The cost for additional Life and AD&D coverage is 100% employee paid. Additional Life and Additional AD&D elections for employees must be made in matching amounts. You must elect coverage for yourself before enrolling your spouse or child(ren).

 
For You
For Your Spouse
For Your Child(ren)
Coverage increments$10,000$5,000$10,000
Coverage maximum5x your annual earnings to $700,000Your (employee) coverage amount to $250,000$10,000
Medical question limit$200,000$30,000Does not apply

Did you know…

Evidence of Insurability (EOI) is a brief health questionnaire required by the insurance company if you’re applying for certain coverage amounts. If you enroll during your new hire window and stay within the limits listed above, you can skip the EOI process.

When to Enroll:

  • You may elect this coverage within 30 days of your hire date or during Open Enrollment.
  • If you enroll within your new hire window you can elect the following coverage without needing Evidence of Insurability (EOI):
    • $200,000 for yourself
    • Up to your employee coverage amount to a maximum $250,000 for spouse
    • $10,000 for children