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 Insurance
You automatically receive basic life insurance (you don't need to enroll), and
DFIN pays the full cost of your coverage. If you die, your designated beneficiary receives one times your annual base pay, up to $125,000, according to Plan provisions.
- Basic life insurance is designed to provide coverage while you are working and terminates when you retire or leave the company.
- The amount of basic life 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 dfsco.benefitsnow.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).
Your tobacco declarations for medical
and optional life insurance must match — otherwise, we will contact you after your enrollment deadline. Go to dfsco.benefitsnow.com for more instructions for taking the Tobacco-free Pledge. You can also contact the Benefits Center at 1-844-44-DFSCO (1-844-443-3726) 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
- 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 dfsco.benefitsnow.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.
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
- 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.