It’s important to plan for your family’s financial security in case the unexpected happens. That’s why Mosaic provides valuable protection in the form of company-paid standard employee life insurance, as well as additional company-paid insurance if the cause of your death was accidental or for loss of limb or other serious injury (referred to accidental death and dismemberment, or AD&D, insurance).
As a new hire and during Annual Enrollment, you also have the option of buying supplemental life for yourself and your family through easy payroll deductions.
What is evidence of insurability and guarantee issue?
Life insurance over a certain amount may require evidence of insurability (EOI), or proof of good health, which involves answering questions about your health. Guarantee Issue means you are not required to answer health questions or undergo a medical exam to qualify for coverage. After electing coverage, you will receive more information if EOI is required.
- As a new hire, you may elect up to the guarantee issue amount of employee and spouse/domestic partner life insurance without providing Evidence of Insurability (EOI).
- During Annual Enrollment, you may increase coverage by one increment without EOI, up to the guarantee issue amount as long as you previously enrolled in coverage.
- Child life insurance is always guarantee issue.
AD&D insurance is always guarantee issue, meaning you do not need to provide EOI.
Guarantee Issue Amounts:
- Supplemental Employee Life – 5x Salary up to a maximum of $2,000,000 (Note, this limit is a combined total of your basic and supplemental coverage).
- Supplemental Spouse Life – $150,000
Mosaic provides employee life and AD&D insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by the company. Note: Company-paid coverage is automatic; you do not need to enroll.
Benefits are equal to:
- Employee life insurance*: 1 times annual base salary or annualized wages to a maximum of the lesser of 1x or $1,000,000
- Employee AD&D insurance: same as life insurance, with a maximum of $200,000
Have you named a beneficiary?
It’s important to designate a beneficiary to receive the benefit paid by a life insurance policy. As personal circumstances change, be sure to keep that information up-to-date. Visit Workday or call HR Connect to add or change a beneficiary.
Primary and Secondary Beneficiaries
A primary beneficiary is a person or entity (like a trust) who will inherit your life insurance upon your death.
A secondary beneficiary serves as a backup to the primary beneficiary. When you pass away, if all of your primary beneficiaries have also passed away, your secondary beneficiaries will receive the payout.
To see your premiums, go to My HR Portal.
If you have questions about Life Insurance or AD&D, contact HR Connect at 855-660-6947.
*Reduced insurance limit due to age: Individuals age 70 or more, are limited to 50% of the insurance amount they were previously eligible for. See Certificate of Coverage for details.
You can purchase additional life insurance for yourself, as well as coverage for your spouse/domestic partner and your child(ren). You pay the full cost of any supplemental life insurance.
- Supplemental employee life* – You may elect the following coverage:
- Supplemental employee life: additional 1–8 times salary or wages (subject to a combined standard/supplemental limit of $2 million)
- Guarantee Issue Amount: 5x Salary up to a maximum of $2,000,000
- Spouse/domestic partner life* – You may purchase life insurance for your spouse or domestic partner up to the following amounts:
- Spouse/domestic partner life: $25,000‒$150,000 (in $25,000 increments)
- Guarantee Issue Amount: $150,000
- Child life insurance - $5,000 or $10,000 (covers the lives of all eligible dependents)
Completing the Evidence Of Insurability (EOI) is designed to be quick and easy. Visit www.prudential.com/eoi as soon as possible to avoid delays in processing your request for coverage. If you’re new to the site, you’ll need to set up a User ID and password. You’ll also need your employer’s control number, 54270. After submitting EOI online, you’ll get an immediate approval or be asked for additional information.
What will supplemental life cost?
The cost of supplemental coverage is based on the benefit amount. Life insurance premiums for employee and spouse/domestic partner coverage are also based on age and tobacco use.
To see your premiums, go to My HR Portal.
If you have questions about Supplemental Life Insurance, contact HR Connect at 855-660-6947.
*Reduced insurance limit due to age: Individuals age 70 or more, are limited to 50% of the insurance amount they were previously eligible for. See Certificate of Coverage for details.
When traveling on behalf of the company, be assured you are protected under a company-paid business travel accident insurance policy should an accident occur. This policy provides coverage for certain injuries or death resulting from an accident during business travel.
You are covered for five times your annual base salary, up to a maximum benefit of $1,000,000. Coverage is automatic — you do not need to enroll, and there is no cost to you.