2023-2025 Life and AD&D Insurance Overview
Dow Aero (“Company”) offers two types of plans for employees and their eligible family members to provide financial support in the event of an elected participants death or qualifying injury. These insurance offerings include:
Basic Life and Accidental Death & Dismemberment (AD&D); and
Voluntary Life and Accidental Death & Dismemberment (AD&D).
Premiums paid by employees for the voluntary plan are post-taxed deductions.
Before diving into the plans, it is important to understand the difference between life versus accidental death and dismemberment (AD&D), which are:
Life insurance provides financial protection for you or your family in most cases of death.
Accidental Death and Dismemberment (AD&D) only pays out in certain instances of death by accident, but not for natural causes or illness; also provides benefit for some non-death accidents including loss of a limb or extremity.
For eased readability, the remainder of this page will refer to accidental death and dismemberment solely as AD&D.
Basic Life and AD&D
$50,000
Coverage at No Cost to Employees with Full-Time Employment Status
Included Services
Voluntary Life and AD&D Coverage
Employee
$10,000 - $300,000
Available Coverage
Up to 5X Times Salary
$50,000
Guaranteed Issue Amount
Spouse
$5,000 - $150,000
Available Coverage
Up to 100% of Employee Amount
$25,000
Guaranteed Issue Amount
Children
$10,000
Guaranteed Coverage
Up to Ten (10) Children
Plan and premiums only valid for 2023-2025 . Guaranteed issue amount eligibility only available during a new hire enrollment period unless advised of a special circumstance; enrollment anytime after requires completed Evidence of Insurability (“EoI”) form. Employee and spouse eligible for up to $10,000 annual increments without being required to complet an EoI form.
Employee Benefit Reduction Schedule
Basic and voluntary life reduction schedules are:
65% at age sixty-five (65); and
50% at age seventy (70).
Life Insurance Calculator
Select here for assistance on determining how much coverage you may need >
Coverage Termination
Life and AD&D insurance coverage ends on the final day of the month following a termination event. Deductions shall not be suspended on an employee’s final qualifying payroll. These plans are not eligible for COBRA temporary continuation of coverage.
Provider Contact Information
Basic & Voluntary Life/AD&D | Sun Life
1.800.247.6875 | Customer Service
sunlife.com | Web
Plan Details
Basic Life and AD&D
Plan Name - Term Group Life Insurance
Policy Number - 943619
Plan Provider - Sun Life
Voluntary Life and AD&D
Plan Name - Voluntary Term Life Insurance
Policy Number - 943619
Plan Provider - Sun Life
Plan Documents
Basic Life and AD&D Plan Summary >
Voluntary Life and AD&D Plan Summary >
* It is highly recommended that you carefully review any appropriate plan documents prior to enrollment.
Disclaimer
Content provided above is maintained by the Company’s Human Resources (“HR”) department, in collaboration with knowledgeable third-parties. The Company takes reasonable efforts in ensuring details about the plan(s) above are accurate. However, the plan document shall govern in the event an inconsistency is discovered between this resource, or any other oral or written description of benefits, and a formal plan document; please notify the Company’s HR department immediately should a potential error be identified.