Life Insurance / AD&D
Get peace of mind knowing you’ve helped protect your loved ones. Life insurance and accidental death and dismemberment (AD&D) insurance help provide for the people who depend on you financially if you can’t be there for them. The money can be used for final expenses, to help replace your income, cover debts, pay your mortgage, fund a child’s education and more.
Barnes Aerospace plans offer life insurance options for all budgets and life needs. In addition, these plans come with programs and services to help plan your estate. And they provide an accelerated death benefit feature if you are diagnosed as terminally ill (less than 12 months to live).
Barnes Aerospace pays the full cost of basic life and accidental death & dismemberment (AD&D) insurance. This coverage is available to all benefit eligible employees, regardless of whether you are enrolled in other benefit plans.
| Empty Cell | When Payment Is Made | Benefit Amount Hourly Employees |
Benefit Amount Salaried Employees |
|---|---|---|---|
| Basic Life Insurance | If you die from any cause | 1 times salary up to $300,000 (minimum of $50,000) | 1.5 times salary up to $300,000 |
| AD&D Insurance | If you die from an accident If you are severely injured due to an accident and suffer a loss specified in the policy such as the loss of a limb or eyesight |
1 times salary up to $100,000 (minimum of $50,000) A portion of the benefit, as specified in the policy |
1.5 times salary up to $300,000 A portion of the benefit, as specified in the policy |
If you elect supplemental life insurance for yourself when you first become eligible, you may elect to increase your basic coverage up to 4x your base salary, or $775,000, without providing Evidence of Insurability (EOI). If you enroll in supplemental coverage after you’re first eligible, or for an amount higher than 4x your base salary or $775,000, EOI may be required.
EOI is a statement of your physical condition, occupation and other factors that might affect your acceptance for insurance coverage.
Guardian may request additional information from you or your doctor, depending on the information contained in the EOI.
Supplemental life insurance amounts that are subject to EOI will not be effective until you receive approval from Guardian. Also, you will begin to pay for these benefits only if and when you are approved.
If you select coverage requiring evidence of insurability:
- You will be prompted to complete an Evidence of Insurability Application within your enrollment flow.
- All coverage amounts subject to Evidence of Insurability and underwriting will be pending until approved by the insurance carrier.
| Coverage For | Coverage Amount | Maximum | Guaranteed Issue |
|---|---|---|---|
| Employee | 1 – 6 times base salary | 6 times salary or $1,700,000, whichever is less |
|
| Spouse | $10,000 - $250,000 in various increments | In $10,000 increments. Amounts over $100,000 will be in $50,000 increments, not to exceed 100% of employee supplemental life amount |
|
| Child(ren) | $5,000 or $10,000 | $10,000 | $10,000 |
Your division HR Representative can assist you with processing a life insurance claim. In order to process your claim, please provide the following information.
- The deceased’s death certificate
- The beneficiary’s current address and phone number
- Only in the event Accidental Death benefits are being claimed - A police/accident report, autopsy report, and toxicology report
If you are not sure who to contact and need assistance please call (860) 583-7070 and ask to speak with a member of the Benefits Department.
You can to keep most of the great features and benefits of your Guardian life insurance coverage if you leave your job for reasons other than disability, by paying your premiums directly.
Terminated employees enrolled in Basic Life insurance or supplemental life insurance are provided a one-time opportunity to convert their group term policy into an individual whole life policy through Guardian.
To pursue conversion (basic or supplemental life) or port (supplemental life) your policy, you must:
- Contact Guardian for conversion and portability details and applicable policy rates, at 1-800-525-4542, within 10 days following your date of separation.
- To continue your policy under either conversion or portability, Guardian must receive your completed application and first month’s payment within 31 days after your date of separation from Barnes Aerospace.
Benefits are reduced by a certain percentage as an employee ages. At age 65 it is reduced by 35%, at age 70 by 60%, and at age 75 by 75%.
