Overview
To help protect the financial well-being of your loved ones, CHOC provides basic life insurance and accidental death and dismemberment (AD&D) insurance for associates. You also have the opportunity to purchase supplemental coverage.
Life and AD&D insurance plans
Basic life and AD&D insurance
CHOC provides life and AD&D insurance coverage up to $50,000 — at no cost to you — that lasts throughout your employment.
Supplemental life insurance
If you want additional coverage, you can buy supplemental life insurance for yourself and your family.
Job Aid: How to name a beneficiary
Designate a beneficiary (and keep it up-to-date) in order to receive the benefit paid by a life insurance policy. Visit Workday to add or change a beneficiary. To learn more, view the Job Aid on how to enter your beneficiary in Workday from the Documents page under Life Insurance.
Basic Life and AD&D Insurance
CHOC provides basic life and AD&D insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by CHOC and coverage is automatic — you do not need to enroll.
Benefits are equal to:
- Basic life insurance: 1x your base annual salary up to a $50,000 maximum
- Basic AD&D insurance: 1x your base annual salary up to a $50,000 maximum
What is AD&D insurance?
If you lose your life, sight, hearing, speech, or use of your limb(s) in an accident, AD&D insurance provides additional benefits to help keep your family financially secure. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.
How CHOC-paid life insurance is taxed
The IRS requires you to pay taxes on the value of any CHOC-paid life insurance coverage over $50,000. This is called imputed income.
Supplemental Life Insurance
For more financial protection beyond CHOC’s basic coverage, you can buy supplemental life insurance for yourself and your family members. You can enroll on the Workday website as a new hire, during Open Enrollment, when you are newly eligible for benefits, or if you have a qualifying life event. You pay the full cost of this coverage, which is provided through The Hartford.
Supplemental life insurance options
| Who are you covering: | Life insurance | Guaranteed issue |
|---|---|---|
| You | Available in $10,000 increments, up to 5 times your base annual salary up to a maximum of $750,000, whichever is less.* | $100,000 up to age 69 $65,000 ages 70 – 74 $50,000 age 75 and over |
| Your spouse/partner | Available in $5,000 increments up to a maximum of $300,000 (not to exceed your coverage).* | $50,000 up to age 69 $32,500 ages 70 – 74 $25,000 age 75 and over |
| Your children | Available in increments of $2,000 up to a maximum of $10,000 for children aged 14 days to 26 years old.** Flat benefit of $1,000 from birth to 14 days. | N/A |
*Coverage amounts decrease by 35% if age 70 or over and 50% if age 75 or over. **Up to age 26 if not disabled.
Guaranteed issue and evidence of insurability
Supplemental life insurance for you and your spouse/partner over a certain benefit amount requires evidence of insurability (EOI) or proof of good health. For any amounts elected after initial new hire enrollment or above the guaranteed issue amounts listed above, you must provide EOI within 60 days of election. Providing EOI means that you must complete a health questionnaire and be approved by The Hartford before your coverage is effective. The health application will automatically be sent to you via email from The Hartford.