Life Insurance

You’re automatically provided with Basic Employee Life Insurance equal to one times your pay, up to $1,000,000. If your pay increases during the year, your coverage will automatically increase. If your pay decreases, your coverage will not decrease; it will remain the same until the next calendar year.

Your Basic Employee Life Insurance benefit is reduced as follows if you continue working for the company after reaching age 65:

• 65% of your full coverage amount when you reach age 65
• 50% of your full coverage amount when you reach age 70

Please note: Pay includes base pay plus short-term annual bonus and commissions. Pay is rounded to the next-highest $1,000, unless it’s already a multiple of $1,000.

You can buy extra life insurance, up to 10 times your pay, with a limit of $2.5 million. This is on top of your basic coverage and paid with after-tax dollars. If your pay goes up during the year, your coverage increases too. If it goes down, your coverage stays the same until next year. You can name anyone as your beneficiary and change it anytime.

Please note: Pay includes base pay plus short-term annual bonus and commissions. Pay is rounded to the next-highest $1,000, unless it’s already a multiple of $1,000.

You can buy life insurance for your spouse or partner if they’re age 70 or younger and not seriously ill or receiving disability benefits. You are automatically listed as the beneficiary, but you can change that if you’d like. Coverage ranges from $10,000 to $250,000, in $10,000 increments, and is capped at 3 times your pay.

You can buy life insurance for your unmarried children if they’re at least 15 days old. Coverage options range from $5,000 to $25,000, and a single premium covers all eligible kids. Coverage ends when your child turns 19, or 25 if they’re a full-time student. You’re automatically the beneficiary.

Please note: To enroll in life insurance coverage for your domestic partner and/or children of your domestic partner, you must complete and submit a Domestic Partner Affidavit provided by the Dependent Verification Center. If the dependent is verified, the coverage will continue, as of the original begin date.

PAI gives financial protection if you’re seriously hurt or die in an accident.

Company-paid coverage:

• If you choose employee-only coverage, you get 2x your pay.
• If you choose coverage for your family, you get 1x your pay.

Extra coverage:

• You can buy more (up to 12x your pay in total including the company-paid coverage).

Beneficiaries:

• You must name someone to receive the benefit when you enroll.
• If you choose family coverage, you are the beneficiary for your spouse/partner and children.
• If you choose employee-only coverage, your beneficiary gets 100% of the benefit if you die or are injured.

Family coverage payouts:

• If a family member dies or is injured, the amount you receive depends on who is covered, for example your spouse/partner, children, or both.
• Visit mySHSBenefits.com to view or update your beneficiary details.

PAI coverage amount paid

Review how the PAI coverage amounts are broken out based on the coverage option you choose.

Coverage amounts

Employee only	If family consists of spouse or domestic partner AND children	If family consists of spouse or domestic partner only	If family consists of children only
100%	50% spouse or domestic partner 10% child	60%	15%

PAI benefits paid

The percentage of the coverage amount that would be paid varies based on the type of loss resulting from the accident. Refer to your Summary Plan Description for more details.

See how PAI and Accident coverage compare here.

The Basic Employee Life, Supplemental Employee Life, and Spouse/Domestic Partner Life Insurance plans feature an accelerated death benefit that pays you up to 80% (with a minimum of $3,000 and maximum of $500,000) of the coverage in effect for you or your spouse or domestic partner.

Please note: Life insurance rules may differ for unions based on applicable collective bargaining agreements.