Jackson Family Wines provides all benefit-eligible employees with company-paid life and AD&D insurance through New York Life. Life insurance pays funds to your designated beneficiaries after your death, while AD&D pays an amount equal to your life insurance in the event of an accidental death or for certain accidental injuries. It’s very important that you have a current beneficiary on file with Benefitsolver, especially after experiencing a life event such as marriage or divorce.
| Benefits | Coverage | Maximum benefit | Benefits reduction schedule |
|---|---|---|---|
| Salary less than $175,000 | Flat amount of $50,000 | $50,000 | Age 70: 65% Age 75: 50% |
| Salary $175,000 or more | 1x annual compensation | $600,000 | Age 70: 65% Age 75: 50% |
As an employee of Jackson Family Wines, you are eligible to purchase additional life and AD&D insurance through New York Life for yourself, your spouse or domestic partner and your children. In order to purchase supplemental life insurance for your spouse, domestic partner, or children, you must purchase supplemental insurance for yourself. If you wish to purchase coverage above the Guaranteed Issue amount, proof of good health, also known as Evidence of Insurability (EOI), will be required.
| Benefits | Coverage | Maximum Benefit | Guaranteed Issue*** | Benefits reduction schedule |
|---|---|---|---|---|
| Voluntary Employee | Units of $25,000 | $1,050,000* | $750,000 | Age 70: 65% Age 75: 50% |
| Voluntary Spouse** | Option 1 – Flat amount of $13,000 Option 2 – Units of $25,000 | $13,000 Maximum of $525,000 (not to exceed 50% of employee coverage) | $25,000 | Age 70: 65% Age 75: 50% |
| Child(ren) | Flat amount of $5,000 | $5,000 | $5,000 | N/A |
New York Life – Life & Disability Plans
Life: FLX 964763
AD&D: OK 966373
LTD: LK 96333
Phone: (800) 362-4462
