Stanley Black & Decker pays the full cost of Basic Life Insurance and Basic AD&D Insurance. Both coverages are equal to one and one-half times your base pay, up to $1 million in coverage.
You can buy employee supplemental term life coverage for yourself, your spouse or domestic partner, and your dependent children. You must enroll for employee supplemental life and AD&D insurance coverage to be eligible to enroll for spouse/domestic partner and/or child supplemental dependent term life and AD&D.
Life and AD&D Insurance Options at a Glance
- Basic Coverage (100% Company Paid)
- Basic Life Insurance – 1.5 times annual base pay*, up to $1 million in coverage
- Basic AD&D Insurance – 1.5 times annual base pay*, up to $1 million in coverage
Optional Coverage (100% Employee Paid)
- Supplemental Employee Life AD&D
- $50,000 to $1,500,000 (or 8x your annual base pay, whichever is less) in $50,000 increments. Includes matching AD&D benefit
Spouse/Domestic Partner Supplemental Life and AD&D
- $25,000 to $250,000 in $25,000 increments. Includes matching AD&D benefit. Coverage may not exceed the employee’s supplemental life coverage
Supplemental Child Life and AD&D
- $15,000 Child Life Insurance which includes matching AD&D benefit. Children are eligible from live birth until age 26.
* Annual base pay is defined as of Oct. 1 of the previous year. If you are not actively at work on Jan. 1 of the current plan year, any change in life insurance coverage due to annual earnings increase will not take effect until you return to work in the plan year. For new hires, or newly eligible employees, annual base pay is your annual earnings at time of hire rounded up to the nearest $1,000. Each enrollment thereafter, it is recalculated for the new plan year using your annual earnings as of Oct. 1 of the prior year.
Sign Up for Guaranteed Life Insurance
As your life, career and/or family changes, you have an opportunity to elect or increase your group life insurance. Elections above the amounts listed below or outside of your initial enrollment event will require you to demonstrate your good health, also known as evidence of insurability (EOI).
Within 31 days of initial eligibility (new hire, new spouse and/or child)
- Employee: Elect up to the lesser of three times your annual base pay or $1,000,000
- Spouse: Elect up to $50,000
- Child: All coverage options are available for you to elect
Once your coverage is effective, you never have to re-enroll to continue your coverage(s). EOI is required if you enroll after your initial enrollment period.
Find the Insurance That’s Right for You
Visit Securian Financials’ educational microsite and use the online benefits decision tool, Benefit Scout, to learn more about your life insurance benefits and options. By answering a few simple questions, you can determine the coverage that meets your needs and budget. Visit Securian.com/sbd-insurance to access the decision support tool and more educational resources on life insurance.
Don’t forget to update and/or review your beneficiaries
You must designate beneficiaries for your Basic Life and AD&D Insurance and your employee supplemental term life and AD&D Insurance, if applicable. You are the beneficiary of any AD&D benefits payable for accidental injury. You are also the beneficiary of your spouse or domestic partner and children’s Supplemental Life and AD&D benefits in the event of their death.
You can designate, review or change your beneficiary designations at any time by visiting the Stanley Black & Decker Benefits Center Enrollment Site. Select Main Menu > Your Profile > Your Beneficiaries, or call 1-800-795-3899.
Resources
- Benefit Scout – Life Insurance Decision Support Tool
- Benefit Summary for Life and AD&D // Resumen del plan de vida Securian
- Securian Financial Beneficiary Info // Información del beneficiario financiero de Securian
- Life Insurance Coverage Options When You Leave
