Life Insurance, Critical Illness, and Accidental Insurance
Life insurance
Prevea Health automatically enrolls eligible employees under life and accidental death and dismemberment (AD&D) coverage through Prudential, at no cost to you. You can also purchase additional optional life and AD&D insurance for yourself, your spouse and/or dependents. Coverage is contingent on all those covered, meeting the plan’s eligibility requirements. Coverage may be subject to Evidence of Insurability and benefit amounts reduce starting at age 65. Please see below and your Certificate of Coverage for more information.
- 100% employer-paid
- Base annual earnings are rounded to the next higher $1,000
- Full-Time Employees working 30 or more hours per week:1 x base annual earnings up to $50,000 (minimum of $20,000)
- Part-Time Employees working 20-29 hours per week:½ x base annual earnings up to $50,000 (minimum of $20,000)
- Employee AD&D coverage will mirror employee’s Base Life Insurance coverage amount.
- New hires please refer to the Benefit Memo given during new hire orientation (if applicable) &/or your amounts can be found on ADP
No evidence of insurability required
- 100% employee-paid
- Can elect increments of $10,000 to a maximum of $500,000*
- Voluntary Employee AD&D may also be elected at the same coverage levels as applies to Optional Employee Life Insurance
*2022- Evidence of insurability required above $200,000 (new hires & life events only)
*2023- Evidence of insurability required above $300,000 (new hires & life events only)
*2024- Evidence of insurability required above $300,000 (new hires & life events only)
Any enrollment/increase made during Open Enrollment is subject to Evidence of insurability. Guarantee issues does not apply
- 100% employee-paid
- Spouse: $10,000 increments to maximum of $250,000*
- Child(ren): $500 – birth to 6 months, $10,000 – 6 months to age 19 (25 if a full-time student)
- Voluntary dependent AD&D may also be elected at the same coverage levels as applies to Voluntary Dependent Life Insurance
*Evidence of insurability required above $30,000 (new hires & life events only)
Any enrollment/increase made during Open Enrollment is subject to Evidence of insurability. Guarantee issues does not apply.
During Prevea Health’s annual open enrollment period, employees may be able to increase existing voluntary life insurance coverage. Evidence of Insurability is required for new entrants and increases made during Open Enrollment. Guarantee issues does not apply. The cost of voluntary life insurance coverages can be found on my.adp.com. Please refer to your Certificate of Coverage or contact Human Resources for more information.
- Click here for the Optional Term Life Summary of Benefits
- Click here for Optional Employee Life, Optional Spouse Life, and Optional Child Life Rate Sheet
- Prudential life estimator
- Prudential Beneficiary FAQ
Voluntary critical illness
You can purchase on a post-tax basis, Critical Illness insurance that can supplement medical insurance with a fixed payment on a covered diagnosis. Unanticipated costs from a heart attack or stroke as an example, can add both financial and emotional stress for employees – which can negatively impact productivity and possibly even more if the illness is suffered by a family member. Prudential Critical Illness pays an immediate, lump-sum benefit following the diagnosis of one of a number of specified diseases or conditions. Employees can use the benefit as they see fit to meet regular month-to-month expenses, copays, deductibles, childcare, etc. Anything that helps their family navigate back to health and work with a less stressful recovery. The following Critical Illness benefit amounts can be elected:
- Employee: $10,000, $20,000 or $30,000
- Spouse: Any multiple of $10,000, but not more than the lesser of $30,000 or 100% of the employee amount
- Child: Any multiple of $5,000, but not more than the lesser of $15,000 or 50% of the Employee Amount
The Prudential Critical Illness insurance also includes a prevention benefit that pays $50 once per calendar year for each person on the plan who has a qualified wellness exam or screening during the plan year. Spousal rates are based on the spouse’s date of birth. For questions about Critical Illness insurance, call Prudential at 844-455-1002
- Click here for the Critical Illness Plan Summary
- Click here for the Critical Illness Rate Sheet
- Click here for a FAQ on Voluntary Critical Illness
- Click here for Wellness Benefit under the Voluntary Critical Illness
Voluntary accident insurance
You can purchase on a post-tax basis voluntary Accident Insurance to help offset some of the costs associated with a covered injury or accident. You are paid a flat benefit amount based on the policy’s benefit schedule, regardless of what your medical plan covers. Claims must be filed within 30 days of the accident or as soon as practicable. In addition, the accident prevention benefit pays $50 once per calendar year for each person on the plan who has a qualified wellness exam or screening during the plan year. For questions about the Accident insurance, call Prudential at 844-455-1002, or refer to the Prudential Accident Insurance flyer.
- Click here for the Accident Insurance Plan Summary
- Click here for the Accident Insurance Rate Sheet
- Click here for a FAQ on Voluntary Accident Insurance
- Click here for Wellness Benefit under the Voluntary Accident Insurance
Questions or need help making changes?
Contact the benefits team.