It’s important to plan for your family’s financial security in case the unexpected happens. That’s why Commvault provides Basic Life Insurance and Accidental Death and Dismemberment (AD&D) insurance for Employees— at no cost to you. Life and AD&D Insurance is provided through Lincoln Financial.
You also have the option of buying Supplemental Life for yourself and your family through easy payroll deductions.
In addition, you have the protection of company-paid business travel accident insurance.
Commvault provides Basic Life and AD&D Insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by the company.
Benefits are equal to:
- Basic Life: 1 x base salary up to max of $500,000
- Basic AD&D: 1 x base salary up to max of $500,000
What is AD&D insurance?
Should you lose your life, sight, hearing, speech, or use of your limb(s) in an accident, AD&D insurance provides additional benefits to help keep your family financially secure. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.
You can purchase additional life insurance for yourself, as well as coverage for your spouse and your child(ren). You pay the full cost of any Supplemental Life insurance coverage. You must purchase coverage for yourself in order to purchase it for your dependents.
- Supplemental employee life insurance — You may elect coverage in $10,000 increments up to a maximum of $500,000 or 5 times your base salary.
- Spouse life insurance — You may purchase life insurance for your spouse in increments of $1,000, up to a maximum of $100,000 (not to exceed 50% of your covered amount).
- Child life insurance — You may purchase child life insurance in $1,000 increments up to $50,000 per child.
You can elect coverage up to $300,000 for yourself and up to $25,000 for your spouse without having to provide evidence of insurability (EOI).
Evidence of insurability
Life insurance over a certain amount may require evidence of insurability (EOI). After electing coverage, click here if EOI is required.
Have you named a beneficiary?
It’s important to designate a beneficiary to receive the benefit paid by a life insurance policy. As personal circumstances change, be sure to keep that information up to date. Visit Workday to add or change a beneficiary.
When traveling on behalf of the company, be assured you are protected under a company-paid business travel accident insurance policy should an accident occur. This policy provides coverage for certain injuries or death resulting from an accident during business travel.
Coverage is automatic — you do not need to enroll, and there is no cost to you.
Commvault also offers you Worldwide Travel Assistance, a service that can help you and your family in emergencies if you’re more than 100 miles from home, anywhere in the world.
Worldwide Travel Assistance arranges and pays for services if you, your spouse, or your dependent children need immediate assistance. There aren’t any exclusions on geographical location, reason for travel, or pre-existing conditions.