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2025 Life Insurance / Accidental Death and Dismemberment

BASIC LIFE INSURANCE AND ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE (AD&D)
CoorsTek is pleased to provide group term basic life and AD&D insurance through Unum at no cost to you. You automatically receive coverage for one time your annual base salary. If your base salary changes during the year, your basic life and AD&D insurance amount will also change.

 

SUPPLEMENTAL LIFE INSURANCE
During your initial eligibility period, you may purchase additional term life coverage in $10,000 increments, not to exceed five times your annual base salary, up to a maximum of $750,000. Coverage amounts greater than $250,000 require you to submit Evidence of Insurability (EOI). Coverage is not effective until approved by Unum.

You pay the full cost of supplemental coverage with after-tax dollars. The amount you pay depends on your age and your smoker status on the date you enroll and the amount of coverage you purchase. Premium amounts that increase due to age will not be adjusted until January 1st of the following year.

 

SUPPLEMENTAL DEPENDENT LIFE INSURANCE
Spousal Coverage
During your initial eligibility period, you may purchase term life coverage through Unum for your spouse in increments of $10,000, up to a maximum of $500,000. Coverage amounts greater than $50,000 require your spouse to submit Evidence of Insurability (EOI). Spouse coverage cannot exceed your combined basic and supplemental life insurance coverage amount.

You pay the full cost of supplemental coverage with after-tax dollars. The amount you pay depends on your spouse’s age and smoker status on the date you enroll and the amount of coverage you purchase. Premium amounts that increase due to age will not be adjusted until January 1 of the following year.


Child(ren) coverage
During your initial eligibility period, you may purchase term life coverage through Unum of $10,000 for your dependent child(ren) up to age 26. Evidence of insurability is not required for child life insurance. You pay the full premium cost for supplemental dependent life insurance with after-tax dollars.

 

ACCIDENTAL DEATH AND DISMEMBERMENT (AD&D) INSURANCE
Accidental Death Dismemberment (AD&D) insurance provides you and your family with coverage in the event of accidental death or loss of body function. AD&D pays a benefit only in the event of accidental death or personal loss, not for death resulting from illness or natural causes. You automatically receive coverage for one times your annual base salary at no cost to you. AD&D coverage is through Unum.

 

SUPPLEMENTAL ACCIDENTAL DEATH AND DISMEMBERMENT (AD&D)
Employees can purchase additional coverage for themselves and coverage for their spouse and eligible child(ren). Voluntary AD&D benefits are increments of $25,000 to a maximum of $750,000. Premiums for coverage are set by the insurance company and are deducted after taxes by Payroll.