BGDC provides the below benefits to eligible Associates through MetLife. These benefits are provided at no cost to you.
Basic Term Life and AD&D
We know life insurance is an important part of your financial well-being and security, especially if you have others that depend on you. Even if you are single, your beneficiary can use your life insurance to pay off any outstanding debts and other expenses you may leave behind. AD&D insurance provides you and or your beneficiary with coverage in the event of accidental death or dismemberment.
Age reductions apply for the Associate (35% reduction at age 65, 60% reduction at age 70, and 75% at age 75).
Coverage
Non-Union Benefit
Basic Life & AD&D
1 times base pay up to $1,000,000
Video: Life and AD&D Insurance
Common Life Insurance Terms:
Accidental Death Insurance (AD&D): Generally an add-on to a regular life insurance policy, it is only paid if the death of the insured occurs as the result of an accident.
Age Reductions: Most insurance policies reduce your life insurance benefit as you age.
Beneficiary: The person or party named by the owner of a life insurance policy to receive the policy benefit.
Contingent beneficiary: The party designated to receive proceeds of a life insurance policy following the insured’s death if the primary beneficiary predeceased the insured.
Conversion: If you ever leave employment, you may be able to convert the group policy into an individually owned life insurance policy.
Coverage Amount: Value of life insurance.
Portable: If you ever leave employment, you may be able to port the life insurance coverage to a new plan.
Premiums: Amount paid to the insurance company to buy a policy and keep it in force.