Life and AD&D

To protect your family, Parkland offers these benefits through Securian Financial, available to full-time employees and part-time-with-benefits employees. For more details, see the plan document and Certificates of Insurance.

Happy multiethnic family standing in front of the house

Insurance: Basic Life
Insurance: Supplemental Life
Insurance: AD&D

How Life Insurance Works

: Life insurance pays a benefit if you or a covered family member dies.
: Parkland pays 100% of the cost for Basic Life Insurance for you. Coverage begins after 6 months of service.
: For extra protection, you can purchase Supplemental Life Insurance. You pay the full cost with after-tax payroll deductions.
: You must enroll within 30 days of your hire date, change in employment status or life event. Coverage will begin after 30 days of employment. If you enroll after you are initially eligible, you will need to provide proof of good health. You can also enroll or make changes during Open Enrollment.
: If you elect coverage for yourself, you can also elect coverage for your spouse and/or your children. You can cover children up to age 26.

How AD&D Works

: Accidental Death & Dismemberment (AD&D) Insurance pays a benefit if you die or suffer a serious injury due to an accident.
: You pay the full cost with after-tax payroll deductions.
: You must enroll within 30 days of your hire date, change in employment status or life event. Coverage will begin after 30 days of employment. You can also enroll or make changes during Open Enrollment.
: You can elect employee-only coverage or employee + family coverage. You can cover children up to age 25.

Life and AD&D Benefits at a Glance

Here’s a look at your coverage.

Benefit	Amount
Basic Life Insurance (paid by Parkland)
Full-time employee	1½ times annual base salary (Minimum benefit of $20,000, up to a maximum benefit of $1 million)
Part-time-with-benefits employee	½ times annual base salary (Minimum benefit of $20,000, up to a maximum benefit of $1 million)
Supplemental Life Insurance (paid by you)
For you¹	From ½ to 8 times annual base salary Up to a combined maximum of $2 million for Basic and Supplemental Life Insurance (Up to $1 million for Basic and up to $1 million for Supplemental) See Know the Terms below for information on when Evidence of Insurability is required.
For your spouse¹	Up to the lesser of $100,000 or 100% of your coverage, in increments of $1,000
For your children²	$5,000, $10,000, $15,000 or $20,000 per child
AD&D Insurance (paid by you)
For you¹	$10,000 to $500,000, in $10,000 increments, up to 10 times your annual base salary
For your family	Your spouse and children are covered as a percentage of your coverage Spouse only:¹ 60% of your coverage, up to $300,000 Children only:³20% of your coverage, up to $50,000 Spouse plus children: Spouse:¹50% of your coverage, up to $300,000 Children:³ 15% of your coverage, up to $50,000

¹ Coverage amount reduces to 65% at age 65 and to 50% at age 70.
² Children are eligible from 14 days to age 26 (or age 21 if not full-time students attending an accredited institution). Coverage for disabled children can be continued beyond age 26, if they meet the eligibility requirements.
³ Children are eligible from 14 days to age 25 (or age 21 if not full-time students attending an accredited institution). Coverage for disabled children can be continued beyond age 25, if they meet the eligibility requirements.

If You Leave Parkland

If you leave Parkland, you can continue your Supplemental Life Insurance coverage under an individual policy with the same benefits and provisions as under your group policy. Your premiums will be billed directly to you.

Know the Terms

Annual base salary means regular pay for primary work assignment excluding supplemental pay such as bonuses, overtime, etc.

A beneficiary is the person you designate to receive your benefits. You must elect a beneficiary to receive your life and AD&D benefits. Go online to PeopleSoft (MyParkland) to name your beneficiary.

Evidence of insurability (EOI) is a statement of health that insurance companies may require before insurance will be effective. If you are required to provide EOI, the insurer must approve your enrollment before your coverage is effective. An EOI form will be mailed to your home if needed. See below for when EOI is required.

As a new hire: If you elect coverage over 3 times your annual base salary for you (up to $500,000) or more than $50,000 for your spouse.
During Open Enrollment if you want to:
- Enroll for more than 3 times coverage or $500,000
- Increase your coverage by more than 1 times annual base salary
- Increase your spouse’s life coverage

Your 2024 Biweekly Benefit Deductions – Supplemental Life Insurance

For You and Your Spouse

Supplemental Life Insurance costs for you and your spouse are based on the amount of coverage you select as well as your age and your spouse’s age.

Age	Biweekly Rate Per $1,000 for You	Biweekly Rate Per $1,000 for Your Spouse
Less than 25	$0.013	$0.023
25–29	$0.016	$0.028
30–34	$0.021	$0.037
35–39	$0.023	$0.042
40–44	$0.026	$0.046
45–49	$0.042	$0.069
50–54	$0.062	$0.106
55–59	$0.114	$0.198
60–64	$0.176	$0.305
65–69	$0.339	$0.586
70+	$0.551	$0.951

To figure out your costs for your coverage amount:

Amount of insurance desired ÷ $1,000 = Units of coverage
Units of coverage times cost = Biweekly cost

Here’s an example. You are 35 years old and want to elect $100,000 in Supplemental Life Insurance coverage for yourself only.

$100,000 ÷ $1,000 = 100
100 x $0.023 = $2.30 biweekly deduction (you will pay this amount each pay period)

For Your Children (up to age 26)

You pay one rate that covers all of your eligible children.

Coverage Amount	Biweekly Rate Per $1,000
$5,000	$0.16
$10,000	$0.32
$15,000	$0.48
$20,000	$0.65

Your 2024 Biweekly Benefit Deductions – AD&D Insurance

The chart below provides examples of rates for various coverage amounts. To see all rates, visit PeopleSoft (MyParkland).

Coverage Amount	Employee Only	Employee and Family¹
$10,000	$0.09	$0.10
$20,000	$0.18	$0.20
$30,000	$0.26	$0.30
$40,000	$0.35	$0.41
$50,000	$0.44	$0.51
$60,000	$0.53	$0.61
$70,000	$0.61	$0.71
$80,000	$0.70	$0.81
$90,000	$0.79	$0.91
$100,000	$0.88	$1.02
$150,000	$1.32	$1.52
$200,000	$1.76	$2.03
$250,000	$2.20	$2.54
$300,000	$2.63	$3.05
$350,000	$3.07	$3.55
$400,000	$3.51	$4.06
$450,000	$3.95	$4.57
$500,000	$4.39	$5.08

¹ Employee and Family rates apply to employee, spouse and children from 14 days old up to age 25 (or age 21 if not full-time students attending an accredited institution). Coverage for disabled children can be continued beyond age 25, if they meet the eligibility requirements.

For More Details

A copy of the certificate of coverage is posted in the Legal Notices section. Print a copy of the certificate and keep it with your important family records.
See the Summary Plan Description (SPD) for eligible guidelines and coverage provisions for Supplemental Life Insurance.