Overview
To help protect the financial well-being of your loved ones, Rady Children's Health provides basic life insurance and accidental death and dismemberment (AD&D) insurance for employees. You also have the opportunity to purchase supplemental coverage.
Life and AD&D insurance plans
Basic life and AD&D insurance
Rady Children's Health provides life and AD&D insurance coverage of one times your base annual salary up to $500,000* — at no cost to you — to benefits eligible employees.
Supplemental life insurance
If you want additional coverage, you can buy supplemental life insurance for yourself and your family.
* Director level and above: Three times base annual salary up to $3 million. Guaranteed issue is $1.5 million.
Name a beneficiary
Designate a beneficiary (and keep it up-to-date) in order to receive the benefit paid by a life insurance policy.
For Orange County employees, view the Job Aid on how to enter your beneficiary in Workday.
Basic Life and AD&D Insurance
Rady Children's Health provides basic life and AD&D insurance to assist you and your family in the event of a death or qualifying serious accident. These benefits are fully paid by Rady Children's Health and coverage is automatic — you do not need to enroll.
Benefits are equal to:
- Basic life insurance: One times your base annual salary up to $500,000*
- Basic AD&D insurance: One times your base annual salary up to $500,000*
* Director level and above: Three times base annual salary up to $3 million
What is AD&D insurance?
AD&D provides another layer of benefits to either you or your beneficiary if you suffer a covered loss or pass away in an accident. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.
How Rady Children's Health-paid life insurance is taxed
The IRS requires you to pay taxes on the value of any Rady Children's Health-paid life insurance coverage over $50,000. This is called imputed income.
Supplemental Life Insurance
For more financial protection beyond Rady Children's Health’s basic coverage, you can buy supplemental life insurance for yourself and your family members. You can enroll as a new hire, during Open Enrollment, when you are newly eligible for benefits, or if you have a qualifying life event. You pay the full cost of this coverage, which is provided through Unum.
Supplemental life insurance options
| Who are you covering: | Life insurance | Guaranteed issue |
|---|---|---|
| You | Available in $10,000 increments up to seven times your base annual salary or $750,000*, whichever is less.** | $200,000 |
| Your spouse/partner | Available in $10,000 increments up to $300,000 (not to exceed 100% of your coverage).** | $50,000 |
| Your child(ren) | Birth to 14 days: $1,000 14 days to age 26: $15,000 |
N/A (one policy covers all eligible children) |
*$1 million for Director level and above.
**Coverage amounts decrease by 35% if age 70 or over and 50% if age 75 or over.
Guaranteed issue and evidence of insurability
Supplemental life insurance for you and your spouse/partner over a certain benefit amount requires evidence of insurability (EOI) or proof of good health. For any amounts elected after initial new hire enrollment or above the guaranteed issue amounts listed above, you must provide EOI. Providing EOI means that you must complete a health questionnaire and be approved by Unum before your coverage is effective.