Income Protection
Basic Life and AD&D
Overview
Eligible employees are automatically enrolled in the Basic Life and AD&D insurance plan.
The Basic Life plan pays benefits to your designated beneficiary(ies) upon your death. Your Basic Life insurance coverage is equal to one times your annual base pay, rounded to the next highest $1,000, up to a maximum of $100,000. Annual base pay does not include overtime, bonuses, commissions or other extra pay.
The Basic AD&D plan will pay additional benefits to your beneficiary(ies) if your death is a result of an accident. The Basic AD&D plan will also pay you benefits if you are seriously injured/dismembered as a result of an accident. Your Basic AD&D coverage amount is equal to your Basic Life coverage amount.
The insurance carrier for your Basic Life and AD&D coverage is the Metropolitan Life Insurance Company.
Additional Details
Comprehensive information about this benefit plan is contained within the Life and AD&D Benefit Plan Summary. In addition, below is some important information about this plan:
Tax Considerations
Under current federal law, the value of employer provided Basic Life insurance coverage that exceeds $50,000 is considered imputed income and must be included in your annual W-2 reported pay.
Basic Life imputed income is calculated using age-based rates from the Uniform Premium Table (Table I) published by the Department of the Treasury. The imputed cost of your Basic Life insurance is shown on your paycheck as "*Excess Life."
Beneficiary Designation
For instructions on designating your beneficiary online, go to the Designate a Beneficiary page.
Eligibility
You are eligible to participate if you are a regular status, salaried employee of Travelers scheduled to work at least 20 hours a week.
For questions about Basic Life Insurance coverage at retirement, contact the ESU at 4-ESU@travelers.com or 800.441.4378.
Cost
Basic Life and AD&D insurance is provided to eligible employees at no cost.
Related Programs & Resources
For questions concerning plan details, excluded benefits, eligibility, cost and when coverage begins or ends, refer to the:
You may also contact the ESU at 4-ESU@travelers.com or 800.441.4378 with any additional questions.
How to Enroll
No enrollment is required. Eligible employees are automatically enrolled.
* This link is accessible only to employees logged into Travelers secure network.
