Your 2024 Benefits Resource

Life and AD&D Coverage

Basic Employee Life and Accidental Death & Dismemberment (AD&D) Insurance

Genesys provides eligible employees basic life insurance in the amount of two times your annual base salary up to $1,500,000. To complement your basic life coverage, Genesys also provides accidental death and dismemberment (AD&D) insurance. AD&D insurance protects you and your loved ones by providing a cash benefit in the event of your death by accident, or if you are involved in an accident resulting in dismemberment. AD&D coverage is provided in the amount of two times annual base salary up to $1,500,000.

Who's Your Beneficiary?

You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Review your beneficiary designation periodically to ensure it reflects your current wishes. You may change your beneficiary as often as needed in Workday (through the Benefits App).

Voluntary Life and AD&D Insurance

In addition to Basic Life and AD&D, you may buy Voluntary Life and AD&D coverage at discounted rates. The chart below describes the amount of coverage you can buy for yourself, your spouse and your child(ren). Evidence of Insurability will be required for those applying for coverage after the new hire eligibility period and for amounts in excess of the Guaranteed Issue.

Voluntary Life
Benefit Features Employee Spouse Dependent Child(ren) (up to age 19, 24 if full-time student)
Coverage Options 1, 2, 3, 4, or 5 times salary or $2,000,000 whichever is less Increments of $5,000 up to a maximum of $250,000 (cannot exceed 100% of employee coverage) $5,000 or $10,000
Guaranteed Issue Amount $500,000 $50,000 $5,000 or $10,000
Guaranteed Issue Period Within 30 days of benefits eligibility or a qualifying life event
Voluntary AD&D
Benefit Features Employee Spouse Dependent Child(ren) (up to age 19, 24 if full-time student)
Coverage Options 1, 2, 3, 4, or 5 times salary or $2,000,000 whichever is less Increments of $5,000 up to a maximum of $250,000 $5,000 or $10,000
Guaranteed Issue Period Within 30 days of benefits eligibility or a qualifying life event

The tables below outline the rates for the Voluntary Life and AD&D plans.

Voluntary Life
Coverage Rates per $1,000
Employee and Spouse See Rates Below
Child $0.20
Voluntary AD&D
Coverage Rates per $1,000
Employee $0.013
Spouse $0.013
Child $0.013
Voluntary Life Insurance Step Rates for Employee and Spouse
Rates per $1,000
Age Band
EE, SP, DP*		 Smoker Non-Smoker
< 30 $0.057 $0.041
30 – 34 $0.064 $0.041
35 – 39 $0.081 $0.064
40 – 44 $0.129 $0.089
45 – 49 $0.226 $0.154
50 – 54 $0.387 $0.258
55 – 59 $0.557 $0.387
60 – 64 $0.871 $0.653
65 – 69 $1.419 $1.080
70 – 74 $2.330 $2.008
75 – 79 $3.426 $2.806
80 – 84 $5.522 $4.378
85 – 89 $8.464 $6.918
90 – 94 $12.091 $9.981
95 – 99 $16.358 $13.505

 

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More Life Insurance and AD&D Resources

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