Employee Group Life and Accidental Death and Dismemberment (AD&D) Insurance
The employee Group Life and AD&D insurance benefits are designed to give eligible employees a helpful starting point in building a well-rounded program of family protection. Banner Health provides a base coverage for eligible employees and provides options for you to increase your base coverage and add coverage for dependents.
The Group Life Insurance Plan provides cash benefits for you and your eligible dependents in the event of death. The AD&D benefits are paid for death, loss of a limb, coma, or paralysis due to an accident and are in addition to any basic and optional life insurance benefits that become payable.
Informational Brochures:
For Dependent Coverage:
- Additional coverage for your eligible dependents is available if you are either a regular full-time or part-time employee. You pay the full cost of coverage for dependent insurance.
- If you or your eligible dependents do not need any additional coverage, you can choose "no coverage" under the additional life insurance options.
- Spouse coverage cannot exceed 50 percent of your coverage, and children's coverage cannot exceed 25 percent of your coverage.
- If you and your spouse or domestic partner are both employed by Banner Health, you may not cover each other on life insurance. Dependent children may only be covered by one parent.
Naming or Changing a Beneficiary
You can name any beneficiary to receive your benefit in the event of your death. You are automatically the beneficiary for optional coverage for your spouse or child(ren). In the event of your death, the entire benefit payment will be made in the order listed below unless you designate a different beneficiary.
- Your spouse
- Your children including legally adopted children
- Your parents
- Your brothers and sisters
- Your estate
You may name or change your beneficiary at any time in the electronic enrollment system or by calling the Service Center at Banner Plan Administration at (480) 684-7070 in the Phoenix metropolitan area or (800) 827-2464 in all other areas.
How do I Increase My Coverage?
During Annual Enrollment, you may increase one level of coverage and/or designate a different beneficiary and amounts of your benefit that you want your beneficiaries to receive. You will receive a confirmation statement of your beneficiary elections.
Summary Plan Description
Detailed information on this benefit such as eligibility, plan coverage, limitations and contact information can be found in the Summary Plan Description (SPD).
Important to Note
This page contains highlights of your Life Insurance Plan choices. The details of how the Life Insurance Plan works are included in the legal documents and contracts that govern how the plan operates. In the event of a difference between this page and the legal documents and contracts, the legal documents and contracts will rule. This insert does not imply a contract of employment or guarantee of benefits. Banner Health reserves the right to change or discontinue all or part of the Life Insurance Plan benefit at any time for any reason.
