Life and AD&D

Life and Accidental Death and Dismemberment (AD&D) insurance through Principal, provides financial security to you and your family if you pass away or become seriously injured.

Basic Life and AD&D:

You receive both Basic Life and Basic AD&D insurance to a maximum of $20,000. Voluntary coverage exceeding $50,000 is subject to imputed income. This means the premium for any amount over $50,000 must be included as income and will be subject to Social Security and Medicare taxes, which may be reflected in your paycheck. The cost of Basic Life and AD&D coverage is sponsored by EverDriven.

Basic - All Others Life and AD&D Benefit Summary

Voluntary Life and AD&D:

In addition to Basic Life and AD&D, you may buy voluntary Life and AD&D coverage at discounted rates that you may not be able to secure on your own. The chart below describes the amounts of coverage you can buy for yourself, your spouse, and your child(ren).

Voluntary - Life and AD&D Benefit Summary

Benefit Features: Voluntary Life [and AD&D] Options*

	Employee	Spouse	Dependent Child(ren) (under age 26)
Coverage Options	Increments of $10,000	Increments of $5,000	Under 14 days: $1,000; 14 days or older: $5,000 or $10,000
Maximum	$500,000	$100,000 (cannot exceed employee coverage)	$10,000 (cannot exceed employee coverage)
Guaranteed Issue Amount	If you are under age 70: $100,000 If you are age 70 and over: $10,000	If your spouse is under age 70: $25,000 If your spouse is age 70 and over: $10,000	$10,000 (cannot exceed employee coverage)

Guaranteed Issue Period: Within 30 days of benefits eligibility or a qualifying life event

*Evidence of Insurability (EOI) may be required.

How much voluntary Life and AD&D insurance should I buy?

When deciding how much voluntary Life and AD&D coverage to buy, consider the following three factors:

How much will your dependents need to pay debts, such as a mortgage, car loan, or credit card balances?
How much do your dependents need to maintain their current standard of living?
What kind of future would you like to provide for your dependents or others who depend on you for financial support?

Who should be my beneficiary?

You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Once you select your beneficiary, your designation will remain unchanged until you submit a new beneficiary designation form. We encourage you to periodically review your beneficiary designations to ensure they are up to date and accurate. You may change your beneficiary as often as you wish at www.principal.com.

Cost of Coverage

Voluntary Life Premiums - Employee and Spouse

Employee & Spouse / Domestic Partner	Cost per $1,000 of coverage	Employee & Spouse / Domestic Partner Smoker	Cost per $1,000 of coverage
Under age 30	$0.097	Under age 30	$0.157
30-34	$0.119	30-34	$0.201
35-39	$0.153	35-39	$0.269
40-44	$0.223	40-44	$0.396
45-49	$0.362	45-49	$0.655
50-54	$0.573	50-54	$1.047
55-59	$0.990	55-59	$1.771
60-64	$1.572	60-64	$2.633
65-69	$2.914	65-69	$4.638
70 and older	$6.361	70-74	$8.914

Voluntary Life Premiums - Children

Age	Coverage Amount
Birth to age 26	$0.200 per $1,000 of coverage

Voluntary AD&D Premiums

Employee	Spouse/Domestic Partner	Child(ren)
$0.023/$1,000 of coverage	$0.023/$1,000 of coverage	$0.023/$1,000 of coverage

Learn more

Evidence of Insurability (EOI)

Evidence of Insurability (EOI) means you need to give health information to get some types of insurance. If you choose extra Life and AD&D insurance above a certain amount or at a different time, you have to fill out a health form (sometimes, you might need a physical exam too). The insurance company will look at your form and tell you their decision.