Protecting your finances and your loved ones gives you the peace of mind you need. Everyone wants to know that their future and family are taken care of in the event of a tragedy. That is why Ocean Spray offers you and your dependents life and accidental death and dismemberment (AD&D) insurance.
Benefit Spotlight
Ocean Spray automatically provides three insurance plans for you through The Hartford in the amounts below. The best part – you do not have to pay for them.
- Basic Group Term Life: 1x your annual base salary (rounded up to the next $1,000)
- Basic Group Accidental Death & Dismemberment (AD&D): 1x your annual base salary (rounded up to the next $1,000)
- Business Travel Accident: $100,000 for full-time employees; coverage for an accidental injury or death while traveling on Company business
- Basic Group Term Life: 1x your annual base salary (rounded up to the next $1,000.)
- Basic Group Accidental Death & Dismemberment (AD&D): 1x your annual base salary (rounded up to the next $1,000.)
- Basic Group Term Life: $25,000
- Basic Group Accidental Death and Dismemberment (AD&D): $25,000
You also have the opportunity to purchase more insurance for yourself and your family. You pay the full cost of coverage with after-tax dollars:
Supplemental Life and AD&D coverage is available for the following employee groups:
- Supplemental Employee Group Term Life Insurance: Up to 4x annual salary with a maximum of $1,000,000 (including basic life insurance); Supplemental coverage may be subject to Evidence of Insurability (EOI).
- Supplemental AD&D: Equal to amount of Supplemental Group Term Insurance
- Spouse/Domestic Partner Life Insurance:* Elect increments of $25,000 up to $100,000. May be subject to EOI. Coverage reduces to 50% at age 70 for active employees.
- Child Life Insurance:* $5,000 for each covered child from age 6 months to age 26; $1,000 for each child from birth to six months.
Supplemental Life and AD&D coverage is available for the following employee groups:
- Full Time Regular Employees
- Part Time Regular Employees who work at least 30 hours per week
- Non-Union Hourly Employees
- Kenosha Union Employees
- Middleboro Union Employees
| Supplemental Life Monthly Rates | ||
| Age | Without AD&D | With AD&D |
| < age 30 | $0.046 | $0.074 |
| 30 – 34 | $0.058 | $0.086 |
| 35 – 39 | $0.069 | $0.097 |
| 40 – 44 | $0.092 | $0.120 |
| 45 – 49 | $0.138 | $0.166 |
| 50 – 54 | $0.230 | $0.258 |
| 55 – 59 | $0.414 | $0.442 |
| 60 – 64 | $0.660 | $0.688 |
| 65 – 69 | $1.270 | $1.298 |
| age 70+ | $1.863 | $1.891 |
| Supp. AD&D Rate | N/A | $0.028 |
| Child Life Rate | $0.060 | N/A |
| Note: Rates per $1,000 coverage | ||
Don't Forget
Any amount of life insurance that exceeds $50,000 is considered taxable “imputed income” by the IRS and the premiums will be included in your W-2 earnings at the end of the year.
Click here to learn how to update your life insurance beneficiaries.
Use these worksheets to help you decide how much coverage you need:
Click here to learn how to update your life insurance beneficiaries.
Use these worksheets to help you decide how much coverage you need:
Resources
Contacts
| Benefits | Contact | Phone | Website |
|---|---|---|---|
| Life and Accident Insurance | Benefits Department | N/A |
