[ PROTECTION ]
LIFE AND DISABILITYLife can change quickly. BCU offers Life, Accident and Disability insurance so you and your family are protected when the unexpected happens.
LIFE & ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) INSURANCE
BCU provides Basic Life Insurance and Accidental Death & Dismemberment (AD&D) Insurance coverage at no cost to you. You may purchase Supplemental (Term) Life Insurance and Supplemental AD&D Insurance coverage for you and your dependents, if you choose.
Basic company-provided coverage and your supplemental options (also known as voluntary options by New York Life) are noted in the table below. Review coverage options and costs when you enroll.
| Benefit Plan | Coverage Level | How Coverage Is Paid |
|---|---|---|
| Life Insurance | ||
| Basic Life Insurance |
1 x Eligible Pay Maximum of $1,000,000 |
BCU paid |
|
Supplemental Life Insurance
|
1-10 x Eligible Pay Maximum of $2,000,000 $5,000 – $250,000 $10,000 or $20,000/child |
Employee paid |
| Accident Insurance | ||
| Basic Accidental Death & Dismemberment (AD&D) |
1 x Annual Base Pay Maximum of $1,000,000 |
BCU Paid |
| Supplemental AD&D (Employee Only or Family Coverage) |
1-10 x Eligible Pay Maximum of $2,000,000 |
Employee Paid |
| Business Travel Accident Insurance |
4 x Annual Base Pay Maximum of $500,000 |
BCU Paid |
DISABILITY INSURANCE
You automatically receive statutory short-term disability coverage at no cost to you. You also may purchase Supplemental (voluntary) Long-Term Disability (LTD) coverage. If you become disabled, the LTD Plan pays benefits once your STD benefits have ended. New hires will have a six-month waiting period to be eligible for Short-Term Disability coverage.
| Benefit Plan | Coverage Level | How Coverage Is Paid |
|---|---|---|
| Short-Term Disability | 70% Annual Base Pay | BCU paid |
| Supplemental Long-Term Disability Insurance | 60% Annual Base Pay Continued in case of disability (up to $5,000 per month) |
Employee paid |
Don’t Forget to Designate Your Beneficiaries
They are the ones who receive life insurance benefits. Update your beneficiaries when you enroll or at any time here.
