Life and Disability

Life and Disability coverages offer income protection for you and your family.

You automatically receive Basic Life Insurance, Business Travel Accident (BTA) Insurance, and Short-Term Disability (STD) coverage from the Company.

You can also purchase the following optional coverages:

  • Optional Life Insurance (for you, your spouse/domestic partner, and/or children)
  • Voluntary Accidental Death & Dismemberment (VADD) Insurance
  • Long-Term Disability (LTD)

You designate your beneficiaries for Basic Life, Optional Life, VADD, and BTA Insurance coverages on MyBenefits Online.

You automatically receive:

  • Basic Life Insurance: Two times your annual base pay (up to $1 million), imputed income may apply.
  • BTA Insurance: Four times your annual base pay (up to $3 million).
  • STD coverage: Up to 26 weeks of income protection if you’re not able to work due to an illness or injury.

In addition to the automatic Company-paid coverages, you can purchase additional protection for yourself and your family on an after-tax basis:

  • Optional Life Insurance: Coverage for you ranging from one to eight times your annual base pay (up to $2.3 million). Additional coverage amounts are available for your spouse/domestic partner and/or child(ren). You can review your cost for each coverage option available to you on MyBenefits Online.
    • If you’re a new hire, you have a one-time opportunity to elect the following coverages without having to provide Evidence of Insurability (EOI):
      • For yourself: Up to three times your annual base pay, or $250,000 (whichever is less)
      • For your spouse/domestic partner: Up to $20,000
      • For your child(ren): In amounts of $5,000 or $10,000
    • If you want to elect or make changes, you can do so during a future Annual Enrollment or during the year if you experience a qualified life event (EOI may be required).
  • VADD Insurance: Coverage for you of up to 10 times annual base pay if you’re injured or you die in an accident. You can also elect coverage for your eligible dependents. See MyBenefits Online for the coverage options available and each option’s cost.
  • LTD coverage: Income protection if your disability extends beyond the initial 26 weeks of STD. You may elect coverage equal to 50% or 60% of your annual base pay. If you don’t elect LTD as a new hire, any coverage that you elect at a future date is subject to EOI.

Securian Financial (Life Insurance and VADD)

The Hartford (LTD)

Sedgwick (STD)

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Imputed income

  • Basic Life Insurance: Under IRS rules, the value of coverage over $50,000 is imputed as taxable income to you. If two times your annual base pay is more than $50,000, electing the $50,000 basic life reduction option enables you to avoid imputed income. You may elect to do so as a new hire or during Annual Enrollment when you enroll on MyBenefits Online (or by phone through the Mondelēz International Benefits Center).
  • Optional Life Insurance for spouse/domestic partner: Imputed income, as required by IRS rules, applies to Optional Life Insurance coverage for your spouse/domestic partner. Please consult your own tax advisor concerning the potential tax consequences in having this coverage.

 

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Looking for more details?

You can access more detailed coverage information (posted under the Reference Center) on MyBenefits Online. The Contact Info & Apps section on this page also includes links to carrier/benefit vendor websites as well as their phone numbers.