Life catches us all by surprise sometimes. As an employee, you’re always covered with Life, Accident and Disability insurance. Proofpoint provides all eligible employees with basic life and AD&D insurance at two times their annual salary up to $1 million. We also provide all eligible employees with Short and Long-term Disability Insurance.

Life and AD&D Insurance

Proofpoint provides you with basic life and accidental death & dismemberment (AD&D) insurance. These plans will protect your loved ones in case something happens to you.

Basic Life and AD&D insurance is paid for on your behalf, but there’s one catch: according to federal tax law, only the first $50,000 of employer-paid life insurance is available tax-free. The tax, called Group Term Life (GTL) is nominal. However, you have the option to cap your benefit at $50,000 if you feel that is enough insurance for your beneficiaries. Contact the Benefits Team if you wish to reduce your benefit to $50,000.

Plan Benefit Summary

Beneficiary Designation

You will need to make a beneficiary designation for your Life and AD&D plan. It is important to keep your beneficiary(ies) current. You can update this information any time during the year—there is no need to wait until annual enrollment.

Voluntary Life and AD&D Insurance

Voluntary Life & AD&D insurance is available to you, your spouse, and your children through our plan with Lincoln Financial. These employee-paid plans, if you enroll, will be in addition to the Basic Life and AD&D insurance that Proofpoint offers. These benefits serve as financial protection for you and your loved ones in the event of death.

Note: To enroll in voluntary life and/or AD&D insurance for your spouse/domestic partner or child(ren), you must be enrolled for yourself. You pay the premiums for your own & any dependent insurance you purchase. You and your spouse/domestic partner may also need to provide EOI (Evidence of Insurability).

Coverage for you:

You can enroll in coverage up to $350,000 for Voluntary Life coverage. Separately, you can enroll in Voluntary AD&D coverage, which never requires evidence of insurability, up to the plan maximum.

The maximum coverage amount is $1,000,000 and cannot exceed 7 times your annual earnings when combined with your Basic Life coverage. For example:

• An employee making $150,000 per year has 2 times their annual earnings ($300,000) in Basic Life coverage provided by Proofpoint. Therefore, they can elect up to 5 times their annual earnings or $750,000 in Optional Life Insurance (subject to EOI approval).
• An employee making $400,000 per year has 2 times their annual earnings ($800,000) in Basic Life coverage provided by Proofpoint. Therefore, they can elect up to $1,000,000 in Optional Life Insurance as this is less than the combined 7 times annual earnings maximum shared between Basic and Optional Life (subject to EOI approval).

and/or

• An employee making $150,000 per year has 2 times their annual earnings ($300,000) in Basic AD&D coverage provided by Proofpoint. Therefore, they can elect up to 5 times their annual earnings or $750,000 in Optional AD&D Insurance.
• An employee making $400,000 per year has 2 times their annual earnings ($800,000) in Basic AD&D coverage provided by Proofpoint. Therefore, they can elect up to $1,000,000 in Optional AD&D Insurance as this is less than the combined 7 times annual earnings maximum shared between Basic and Optional AD&D.

Coverage for your spouse or domestic partner:

You can enroll in Voluntary Life coverage for your spouse and/or domestic partner up to $30,000. Separately, you can Enroll in Voluntary AD&D coverage for your spouse and/or domestic partner up to the plan maximum. AD&D coverage never requires evidence of insurability.

The maximum coverage amount is $350,000 for each separate plan, not to exceed 50% of your own coverage. For example:

• $350,000, not to exceed 50% of your Voluntary Life coverage

and/or

• $350,000, not to exceed 50% of your Voluntary AD&D coverage

Coverage for your child(ren) or domestic partner’s children:

You can enroll in Voluntary Life and/or Voluntary AD&D coverage (separate plans) for your child(ren) and/or your domestic partner’s child(ren) up to $10,000 per child (not to exceed 50% of your own coverage).

For example:

• $10,000, not to exceed 50% of your Voluntary Life coverage

and/or

• $10,000, not to exceed 50% of your Voluntary AD&D coverage

Lincoln financial

Life and AD&D
Policy/group #: 90-LF0212
Call: (888) 787-2129
Website: lfg.com