Life and accidental death and dismemberment (AD&D) insurance protects you financially if something happens to you, your spouse/domestic partner or children. Prudential administers DFIN’s Life and AD&D Insurance Program.
Basic Life and Basic AD&D Insurance
You automatically receive basic life and basic accidental death and dismemberment (AD&D) insurance (you don’t need to enroll), and DFIN pays the full cost of your coverage. If you die, your designated beneficiary receives (based on Plan provisions):
- Basic life insurance: One times your annual base pay, up to $250,000, and
- Basic AD&D insurance: One times your annual base pay, up to $250,000.
IMPORTANT
- Basic life and AD&D insurance is designed to provide coverage while you are working and terminates when you retire or leave the company.
- The amount of basic life and AD&D insurance for active employees age 65 and older is subject to annual age reductions according to the Plan.
Optional Employee Life Insurance
You may purchase life insurance for yourself, from one to seven times your annual base pay, up to a combined benefit (basic and optional) of $2 million. If you die, the Program pays a benefit to your designated beneficiary according to Program provisions. See the video How Much Do You Know About Life Insurance.
The cost you pay for coverage is based on your age, smoker status and coverage amount. Your cost is shown at mydfinbenefits.com at the time you enroll for coverage. As your coverage amount or age increases, so do your premiums.
If you enroll in optional life insurance when you are initially eligible as a new hire, you may elect up to three times your annual base pay without providing EOI if the benefit remains under $500,000. If your coverage exceeds the guaranteed issue maximum of $500,000, Prudential requires evidence of insurability (EOI).
TOBACCO DECLARATIONS
Your tobacco declarations for medical and optional life insurance must match — otherwise, we will contact you after your enrollment deadline. Go to mydfinbenefits.com for more instructions for taking the Tobacco-free Pledge. You can also contact the Benefits Center at 1-877-308-1464 if you need assistance.
EVIDENCE OF INSURABILITY (EOI)
If you don’t enroll in optional life insurance when initially eligible as a new hire, you may be required to provide EOI regardless of the level of coverage you select. If you start an online EOI, you must submit it within seven days. No form will be mailed to you.
Optional Spouse/Domestic Partner & Child Life Insurance
You may purchase spouse/domestic partner and child life insurance for your eligible dependents.
- Coverage for your spouse/domestic partner: You may elect from $10,000 to $200,000, but the amount cannot exceed the amount for which you are insured under basic and optional employee life insurance. You may elect up to $50,000 without your spouse/domestic partner needing to provide evidence of insurability (EOI).
- Coverage for your child(ren): You may elect up to $25,000. If you select child life insurance, you pay the same price whether you have one child or several children.
Your cost is shown at mydfinbenefits.com at the time you enroll for coverage.
If you enroll in optional life insurance when you are initially eligible as a new hire, you may elect up to $50,000 in coverage for your spouse/domestic partner without your spouse/domestic partner needing to provide EOI. EOI is not required for optional child life insurance.
DOES YOUR SPOUSE ALSO WORK FOR DFIN?
You cannot cover another employee as a spouse/domestic partner under the Life and Accident Insurance Program.
Universal Life Insurance with Long-term Care Option
Effective January 1, 2025
You may purchase universal life insurance for yourself and your spouse/domestic partner. This insurance allows you to use a portion of your death benefit for long-term care at home, in a facility or if confined to a hospital or other care facility for specialized treatment after a 90-day waiting period. This insurance also has additional riders for extension and restoration of benefits. See the Universal Life Insurance Flier for details.
- Coverage for you: You may elect coverage of $25,000, $50,000, $100,000, $150,000 or $200,000 not to exceed 5x annual salary.
- Coverage for your eligible spouse/domestic partner: You may elect coverage of $25,000.
Your rate for this universal life coverage does not change due to getting older. It is fully portable at the same price and benefit level if you leave or retire.
Your cost is shown at myDFINbenefits.com at the time you enroll for coverage. EOI is not required for universal life insurance.
Optional AD&D Insurance
You may purchase AD&D insurance for yourself and your eligible dependents. The Plan pays a benefit according to Plan provisions for accidental death and certain other losses.
- Coverage for you: The benefit amount is one to seven times your annual base pay, up to $2 million.
- Coverage for your eligible spouse/domestic partner: The benefit amount is 60% of the employee’s amount (up to $750,000) if there are no covered children.
- Coverage for eligible child: The benefit amount is 25% of the employee’s amount (up to $150,000) if there is no covered spouse/domestic partner.
- Coverage for eligible spouse AND child(ren): The benefit amount is 50% of the employee’s amount (up to $750,000), and the benefit amount for the eligible child(ren) is 20% of the employee’s amount (up to $150,000).
EOI is not required for optional AD&D insurance.