Life and AD&D
Naming Your Beneficiary
You can name anyone you want as the beneficiary for your Life Insurance in the event of your death. This also applies for Basic AD&D Insurance and Voluntary AD&D Insurance in the event of your death due to a covered accidental injury.
If you name more than one beneficiary:
- all of your named beneficiaries will share equally in the proceeds of your Life Insurance, Basic AD&D Insurance, and Voluntary AD&D Insurance, unless you specify their individual interest; and
- if a designated beneficiary dies before you, the benefit will be divided equally among the remaining beneficiaries.
Under Basic AD&D Insurance and Voluntary AD&D Insurance, you are the beneficiary for a covered loss other than death. (For example, if you suffer dismemberment due to a covered accidental injury.)
DEPENDENT INSURANCE
You are the beneficiary for any optional insurance coverage that you elect to provide for your dependents, including:
- Optional Employee Term Life Insurance for your spouse/domestic partner and/or dependent children; and
- Voluntary AD&D Insurance for your spouse/domestic partner and dependent children.
NO BENEFICIARY
If you do not name a beneficiary, or if no named beneficiary survives you, the proceeds of your Life Insurance, Basic AD&D Insurance, and Voluntary AD&D Insurance will be paid to:
- your surviving spouse/domestic partner/spousal equivalent;
- your surviving children in equal shares;
- your surviving parents in equal shares;
- your surviving siblings in equal shares; or
- your estate.
It is important for you to keep your beneficiary designation up to date. You can do so by accessing the Beneficiary Designation section on Employee Self Service. |