Company Paid Life and AD&D
Basic Life and AD&D
To help provide financial security for your family, we provide basic term life and accidental death & dismemberment (AD&D) coverage at no cost to you.
Basic life Insurance pays your beneficiary a lump sum benefit amount if you die. AD&D pays an additional benefit in the event of a fatal accident. AD&D may pay a partial accident benefit to you in some instances, such as a loss of limb, eyesight or paralysis. Please refer to your plan summary for full details.
Your life and AD&D coverage is equal to two times your base annual salary up to $450,000. The City of Golden provides this benefit at no cost to you!
Keep your beneficiaries up to date!
Life and AD&D benefits are paid to the beneficiary on file, so make sure you keep your beneficiary information up to date!
You can change your beneficiary information at any time on UKG.
Please Note: Any group term life insurance in excess of $50,000 is considered a taxable fringe benefit and therefore must be taxed accordingly.
Supplemental Life and AD&D
Protecting Those You Leave Behind
Supplemental life and AD&D insurance provides an extra layer of financial security for your family.
You can give your loved ones greater peace of mind in the face of unforeseen circumstances by purchasing voluntary coverage at competitive group rates.
New Employees: Don’t miss out on your guaranteed issue opportunity!
A “guaranteed issue” amount is the dollar amount of coverage you can be approved for without completing a health questionnaire—also commonly referred to as Evidence of Insurability (EOI).
Guarantee issue amounts typically only apply during your initial 30-day enrollment period when hired. If you wish to enroll in the supplemental life and AD&D plan or increase your coverage (above one additional increment) after the Open Enrollment period, you will be required to complete the EOI health questionnaire.
Supplemental Life Coverage Options
EMPLOYEE BENEFIT:
$10,000 increments up to $300,000 Guaranteed Issue: $100,000
SPOUSE BENEFIT:
$5,000 increments up to 50% of employee election amount Guaranteed Issue: $30,000
CHILD BENEFIT:
$10,000 per child
Disability Benefits
The City of Golden provides short-term and long-term disability coverage at no cost to you!
According to the Council for Disability Awareness, one in four people will experience a disabling condition in their working years.
Most people underestimate the likelihood of being disabled at some point in their life. But if you couldn’t work and earn an income, how would you pay your bills? Disability insurance can help!
Short-Term Disability Insurance
Short-term disability benefits replace a portion of your pre-disability income should you become ill or injured and unable to work. (Note: Pregnancy is considered a disability for purposes of this policy.)
Plan Highlights:
Benefit amount: 60% of your salary up to a maximum of $2,500 per week
When do benefits begin?
- Employees with less than two years of service: Benefits begin on the first day of disability due to an accident or the 14th day of disability due to illness
- Employees with more than two years of service: Benefits begin on the first day of disability due to an accident or the 31st day of disability due to illness
Maximum benefit duration: 26 weeks
Long-Term Disability Insurance
If you remain disabled after your short-term disability payments end, your long-term disability policy may start to pay if you continue to have a qualifying disability.
Plan Highlights:
Benefit amount: 60% of your salary up to a maximum of $10,000 per month
Benefits begin: After 180 days of disability
Maximum benefit duration: Until you recover or up to your Social Security Normal Retirement Age (SSNRA)
