Life and
AD&D Insurance

Protecting Your Loved Ones

Life catches us all by surprise sometimes. As an employee, you’re always covered with Life, Accident and Disability insurance. Proofpoint provides all eligible employees with basic life and AD&D insurance at two times their annual salary up to $1.2 million. We also provide all eligible employees with Short and Long-term Disability Insurance.

Life and AD&D Insurance

Proofpoint provides you with basic life and accidental death & dismemberment (AD&D) insurance. These plans will protect your loved ones in case something happens to you.

Basic Life and AD&D insurance is paid for on your behalf, but there’s one catch: according to federal tax law, only the first $50,000 of employer-paid life insurance is available tax-free. The tax, called Group Term Life (GTL) is nominal. However, you have the option to cap your benefit at $50,000 if you feel that is enough insurance for your beneficiaries. Contact the Benefits Team if you wish to reduce your benefit to $50,000.

Beneficiary Designation

You will need to make a beneficiary designation for your Life and AD&D plan. It is important to keep your beneficiary(ies) current. You can update this information any time during the year—there is no need to wait until annual enrollment.

Voluntary Life and AD&D Insurance

Voluntary Life & AD&D insurance is available to you, your spouse, and your children through our plan with Lincoln Financial. These employee-paid plans, if you enroll, will be in addition to the Basic Life and AD&D insurance that Proofpoint offers. These benefits serve as financial protection for you and your loved ones in the event of death.

Note: To enroll in voluntary life and/or AD&D insurance for your spouse/domestic partner or child(ren), you must be enrolled for yourself. You pay the premiums for your own & any dependent insurance you purchase. You and your spouse/domestic partner may also need to provide EOI (Evidence of Insurability).

Coverage for you:

You can enroll in coverage up to $350,000 for Voluntary Life coverage without evidence of insurability (EOI) at your initial enrollment period.

The maximum coverage amount is $1,000,000 and cannot exceed 7 times your annual earnings when combined with your Basic Life coverage. For example:

• An employee making $150,000 per year has 2 times their annual earnings ($300,000) in Basic Life coverage provided by Proofpoint. Therefore, they can elect up to 5 times their annual earnings or $750,000 in Optional Life Insurance (subject to EOI approval).
• An employee making $400,000 per year has 2 times their annual earnings ($800,000) in Basic Life coverage provided by Proofpoint. Therefore, they can elect up to $1,000,000 in Optional Life Insurance as this is less than the combined 7 times annual earnings maximum shared between Basic and Optional Life (subject to EOI approval).

and/or

• An employee making $150,000 per year has 2 times their annual earnings ($300,000) in Basic AD&D coverage provided by Proofpoint. Therefore, they can elect up to 5 times their annual earnings or $750,000 in Optional AD&D Insurance.
• An employee making $400,000 per year has 2 times their annual earnings ($800,000) in Basic AD&D coverage provided by Proofpoint. Therefore, they can elect up to $1,000,000 in Optional AD&D Insurance as this is less than the combined 7 times annual earnings maximum shared between Basic and Optional AD&D.

Coverage for your spouse or domestic partner:

You can enroll in Voluntary Life coverage for your spouse and/or domestic partner up to $30,000 without evidence of insurability (EOI) at your initial enrollment period. Separately, you can Enroll in Voluntary AD&D coverage for your spouse and/or domestic partner up to the plan maximum. AD&D coverage never requires evidence of insurability.

The maximum coverage amount is $250,000 for each separate plan, not to exceed 50% of your own coverage. For example:

• $250,000, not to exceed 50% of your Voluntary Life coverage

and/or

• $250,000, not to exceed 50% of your Voluntary AD&D coverage

Coverage for your child(ren) or domestic partner’s children:

You can enroll in Voluntary Life and/or Voluntary AD&D coverage (separate plans) for your child(ren) and/or your domestic partner’s child(ren) up to $10,000 per child (not to exceed 50% of your own coverage).

For example:

• $10,000, not to exceed 50% of your Voluntary Life coverage

and/or

• $10,000, not to exceed 50% of your Voluntary AD&D coverage