How the Plans Work

Life Insurance

  • Life insurance pays a benefit if you or a covered family member dies.
  • TEAM pays 100% of the cost for Basic Life insurance for you.
  • You can also purchase Optional Life insurance for yourself, your spouse and your children.
  • You pay for Optional Life insurance with after-tax dollars.

AD&D Insurance

  • Accidental Death & Dismemberment (AD&D) insurance pays a benefit if you die or suffer a serious injury due to an accident.
  • TEAM pays 100% of the cost of Basic AD&D insurance for you.
  • You can also purchase Optional AD&D insurance for additional protection. You pay the cost for this coverage with after-tax dollars.
  • You can elect employee-only coverage or family coverage.

Life and AD&D Benefits at a Glance

Here’s a look at your coverage.

Benefit Amount
Basic Life Insurance (paid by TEAM) For you: 1x your annual earnings, up to $750,000
Optional Life Insurance (paid by you) For you: $10,000–$750,000, in increments of $10,000, up to 4x your annual earnings

For your spouse: $5,000–$200,000, in increments of $5,000, up to 100% of your Optional Life Insurance coverage

For your children: $10,000

Basic AD&D Insurance (paid by TEAM) For you: 1x your annual earnings, up to $750,000
Optional AD&D Insurance (paid by you) For you: $10,000–$750,000, in increments of $10,000; amounts over $150,000 cannot exceed 10x your annual earnings

For your family: Your spouse and children are covered as a percentage of your coverage

  • Spouse only: 100% of your coverage
  • Children only: 15% of your coverage
  • Spouse and children:
    • Spouse: 50% of your coverage
    • Children: 15% of your coverage

Know the Terms

  • Annual earnings means base salary excluding bonuses, overtime or other extraordinary pay.
  • Evidence of insurability (EOI) is a statement of health that insurance companies may require before insurance will be effective. You will need to provide EOI if you enroll more than 60 days after your date of hire, or if you elect coverage of more than $250,000 for yourself or $50,000 for your spouse. If you are required to provide EOI, the insurer must approve your enrollment before your coverage is effective.
  • A beneficiary is the person you designate to receive your benefits. You must elect a beneficiary to receive your life and AD&D benefits. You can fill out or update your beneficiary form by logging on to the ADP Employee Self-Service portal at portal.adp.com and clicking on the Benefits tab.

Your Paycheck Costs

Optional Life Insurance for You and Your Spouse

Optional Life insurance for you and your spouse is based on age as of January 1, 2019, and the amount of coverage selected.

Age Monthly Cost per $1,000 for You Monthly Cost per $1,000 for Your Spouse
<25 $0.06 $0.04
25–29 $0.06 $0.04
30–34 $0.08 $0.05
35–39 $0.09 $0.07
40–44 $0.14 $0.09
45–49 $0.21 $0.13
50–54 $0.37 $0.20
55–59 $0.67 $0.30
60–64 $0.86 $0.51
65–69 $1.33 $0.86
70 and older $2.04 $1.47

Child Life Insurance

Coverage Amount Monthly Cost
$10,000 $0.90

Voluntary AD&D Insurance

Coverage Category Monthly Cost per $1,000
Employee Only $0.025
Family $0.036

Figure Out Your Costs

Here’s how to figure out your life and AD&D insurance costs.

  1. Amount of insurance desired ÷ $1,000 = Units of coverage
  2. Units of coverage x cost = Monthly cost

Here’s an example. You are 35 years old and want to elect $100,000 in optional life.

  1. $100,000 ÷ $1,000 = 100
  2. 100 x $0.09 = $9.00 per month

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TEAM pays 100% of the cost for Basic Life and AD&D insurance.