Life Insurance Benefits

IMPORTANT

In the event of your death, Life Insurance may provide your family members or other beneficiaries with financial protection and security. DFA provides full-time employees with a Basic Life Insurance benefit and an Accidental Death and Dismemberment benefit through New York Life Group Benefit Solutions.

In addition to your Basic Life Insurance benefit, full-time employees may also elect Supplemental Life Insurance in $10,000 increments from $10,000 to $500,000. Spouses are able to elect up to the lesser of $250,000 or 100% of the employee’s supplemental coverage in $5,000 increments. A $10,000 or $20,000 dependent child option is available (the benefit is $2,500 for dependents seven days to six months of age). Any amounts elected above the guaranteed issue amount will require Evidence of Insurability. If required, an Evidence of Insurability form will be mailed to you after the open enrollment period ends. Evidence of Insurability is not needed for the dependent child option.

For 2023 only, even if you previously declined coverage, you will be able to elect up to $250,000 of coverage without an Evidence of Insurability form.

Employees who currently have between $10,000 and $240,000 of Supplemental Life Insurance may increase their coverage to $250,000 without proof of good health during this open enrollment.

Any spouse who wishes to elect supplemental coverage if they were previously declined or who has existing Life Insurance and wishes to increase coverage up to $50,000 will not be required to submit an Evidence of Insurability form.

ACCIDENTAL DEATH AND DISMEMBERMENT (AD&D) INSURANCE BENEFITS

AD&D insurance can help you pay expenses if you or an eligible family member are seriously injured or killed in a covered accident. In 2023 you may purchase additional AD&D insurance through New York Life Group Benefit Solutions: • Yourself: AD&D coverage is available to a maximum of $500,000. • Your Family: If you elect family coverage and no dependent children are covered, your spouse coverage amount will be 50% of your coverage amount. If one or more dependent children are insured, your spouse coverage amount will be 40% of your coverage amount.

Each of your covered children’s benefit amount will be 10% of yours, subject to a maximum benefit of $20,000.