Apex Capital provides each eligible employee with Basic Life and AD&D coverage at no cost to you through Unum.
| Employee – Basic Term Life and Basic AD&D Benefits | |
|---|---|
| Life Benefit Amount | 1 x BAE* up to $200,000 |
| AD&D Benefit Amount | 1 x BAE* up to $200,000 |
| Age Reduction | Benefits Reduce To: 65% at age 65 50% at age 70 |
| *Basic Annual Earnings | |
Voluntary Life and AD&D
As a full-time team member of Apex and TCS, you have the opportunity to purchase additional life and accidental death and dismemberment (AD&D) insurance for yourself, spouse and/or children. You have to elect coverage for yourself in order to select coverage for your spouse and/or children.
Premiums are adjusted automatically each year during Open Enrollment based on the age-banded rates. When elected both the voluntary life and AD&D coverage amounts are the same. The full cost is paid through payroll deductions for Voluntary Life and AD&D insurance.
Want to Elect or Increase Your Voluntary Life and AD&D Coverage?
For New Hires – you will have a guaranteed issue amount that does not require an EOI (Evidence of Insurability). Coverage greater than the guaranteed issue amount will require an EOI.
For Current Team Members – any changes, including electing coverage for the first time, will require an EOI.
EOI Process
An Evidence of Insurability may be required depending on your coverage elections. To complete:
- Make the election in Workday
- Unum will send your EOI link in the announcement section of your Workday Home Page
Plan Features* Employee Spouse Child(ren)
Benefit Increments Increments of $10,000 up to $500,000 Increments of $5,000 $10,000 (age 6 months to age 26)
Guarantee Issue $150,000 $10,000 Full Benefit
Maximum Benefit Amount $500,000 $50,000 $10,000
A beneficiary is the person named to receive life insurance benefits in the event of the covered person’s death. It is important to name at least one primary and one contingent beneficiary in the event you survive the primary beneficiary. You can add/edit beneficiary information in Workday. If you have questions, HR can assist you.