Life and AD&D
GDS provides basic life and accidental death and dismemberment (AD&D) benefits to give your family a financial cushion and peace of mind if anything should happen to you. Your beneficiary will receive 2 times your annual salary (age reductions apply) to a maximum of $500,000 in the unfortunate event of your death. If your death is the result of an accident, your beneficiary will receive an additional amount in an accidental death benefit. Please see the Benefit Summaries section for additional details.
Life coverage can help you protect your family’s future, with money to pay for:
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Funeral costs
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Mortgage payments
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Legal or medical expenses
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Outstanding debts
Additional Plan Benefits Include:
Accelerated Death Benefit – Provides an option to withdraw a percentage of your life insurance coverage when diagnosed as terminally ill.
Conversion / Portability – If you terminate your employment or become ineligible for this coverage, you may have the option to convert or port all or part of the amount of coverage in force to an individual life policy on the date of termination without Evidence of Insurability. Conversion election must be made within 31 days of your date of termination. You can contact Guardian at (888) 600-1600 to request the paperwork.
This coverage is provided by GDS, through Guardian, at no cost to you!
In addition to the basic, employer-paid coverage, you do have the option to purchase additional life insurance for you and your eligible dependents.
Voluntary Life Benefits
In addition to the basic employer paid life and AD&D coverage, you have the option to purchase optional life coverage.
You pay the total cost of this benefit through payroll deductions. You pay a low premium that increases modestly over time.
Employee Life
Coverage can be purchased in increments of $10,000 to a maximum of up to $500,000. Evidence of Insurability may be required. If you are under age 65, you are guaranteed approval of up to $100,000 with no Evidence of Insurability (EOI) only at initial new hire enrollment. Age reduction applies, please reference the benefit summary and policy document for more information.
Dependent Life
Employee must elect coverage for themselves in order to purchase additional life insurance for their dependents.
Spouse – Coverage can be purchased in increments of $5,000 to a maximum of $250,000, not to exceed 50% of the employee elected amount. Evidence of Insurability may be required.
Children – Coverage can be purchased in increments of $2,000 up to a maximum of $10,000.
Please note that Age Limitations and Reductions may apply. Please see plan documents for coverage details or contact your Benefits Team.
