Life and Accidental Death & Dismemberment (AD&D) Insurance benefits offer financial security and peace of mind — so your family is protected if the unexpected happens. Open Enrollment is the time to make sure you have the coverage you need.
Income Protection
Overview
ITW pays for basic coverage. You can add to that amount by electing additional coverage when you enroll or at any time during the year.
Life Insurance
Pays a benefit if you or a covered family member dies. It is paid to your beneficiary if you die and to you if a dependent dies.
AD&D Insurance
Offers protection if you’re seriously injured or die as a result of a covered accident. The benefit is paid to you if you’re injured or to your beneficiary if you die.
Coverage Options
| Basic Coverage You Get Automatically (Paid by ITW) | Optional Coverage You Can Elect (Paid by You) |
|---|---|
| Life and AD&D Insurance for You | |
| Coverage equal to 2x base salary | Additional coverage equal to 1x to 10x base salary |
| Dependent Life Insurance | |
| Spouse/Domestic Partner: $5,000 | Spouse/Domestic Partner: $10,000, $20,000, $30,000, $40,000 or $50,000 |
| Children: $2,000 each child | Children: $5,000, $10,000, $15,000, $20,000 or $30,000 each child |
How Much Coverage Do I Need?
You can build on your basic coverage by buying Optional Life and AD&D Insurance for you and Optional Life Insurance for your dependents. This is a smart idea if you expect you or your family would need additional help covering expenses and debt.
You need to have enough life insurance to cover your financial obligations, like funeral costs, medical bills and future living expenses for any dependents. If you’re single or have no dependents, you might not choose to buy optional coverage.
Still unsure of how much you need? Use the MetLife Life Insurance Calculator to help you determine how much life insurance you’ll need to protect you and your loved ones. Need more information? Check out these additional MetLife resources.
Statement of Health (SOH)
SOH is required for Optional Life Insurance if:
- You elect more than the lesser of $500,000 or 3x your base salary when you first become eligible for the Plan; or
- You increase your Optional Life Insurance coverage (any amount) after you first become eligible.
SOH will also be required if you elect spouse/domestic partner coverage over $30,000, or if you elect spouse/domestic partner coverage after you first become eligible for it, or for any increase to spouse/domestic partner coverage.
Note: SOH must be approved before any increase in coverage will take effect.
Beneficiaries
To make sure your benefit goes to the right person, designate a beneficiary on file for your life and AD&D insurance benefits. Your beneficiary is the person who receives a benefit if you die. You can name one beneficiary or multiple beneficiaries — anyone you choose. You’re automatically the beneficiary for any dependent coverage you elect.
Ready to Designate Your Beneficiary?
Log on to ITWemployee.com, then click on the Health & Life Elections icon under the Benefit Provider Websites drop-down. Choose Current Benefits and then scroll down and click on the Beneficiaries tab. Then, click on the Add/Edit Beneficiaries button. To add a beneficiary, click on the Add New Beneficiary button, complete the required fields and click the Save Changes button. To edit a beneficiary, click on the pencil next to their name, update the information and click the Save Changes button.
Your Disability Coverage
ITW pays the full cost of Short-Term Disability (STD) and Long-Term Disability (LTD) benefits for you. So if you have a qualified medical condition or injury, you’ll have a source of income while you recover.
Generally, you’re eligible for disability benefits if you are a regular, full-time, non-union ITW employee; on the U.S. payroll of a participating business unit; and regularly scheduled to work at least 30 hours per week. Your coverage effective date is the first of the month following or coinciding with your hire date or newly benefits-eligible date. However, if you happen to be ill or injured and away from work on the date your coverage would take effect, coverage will not take effect until you return to active full-time work for one full day.
Need More Disability Information?
Log on to ITWemployee.com , then choose My Benefits > Disability & Leaves.
Contacts
The Hartford
Initiate a disability claim, check on claim status.
MetLife Life Insurance
Life & AD&D Insurance; for questions regarding Statement of Health or Conversion/Portability of Life Insurance or to file a claim