Life insurance pays your beneficiaries if you pass away. AD&D (accidental death and dismemberment) adds a separate benefit if a death or serious injury is caused by an accident. Petfolk’s life and AD&D coverage is through The Standard.
Basic life and AD&D
Petfolk pays for $10,000 of basic life and AD&D coverage for every eligible team member. You’re enrolled automatically and don’t need to do anything. The amount drops by 35% at age 65 and by 50% at age 70.
Voluntary life and AD&D
For most families, $10,000 won’t go far. You can buy more coverage for yourself, your spouse and your children, and pay for it through payroll.
- For you: 1 to 6 times your annual earnings, up to $500,000 (minimum $10,000). Up to $150,000 is guaranteed issue, meaning you can get that amount without answering health questions.
- For your spouse: $10,000 to $250,000 in $10,000 increments. Up to $30,000 is guaranteed issue.
- For your children: a flat $10,000.
Voluntary coverage also reduces by 35% at age 65 and 50% at age 70.
The certificate of insurance governs all benefits, exclusions and limitations.
