LIFE AND AD&D INSURANCE
arrivia’s comprehensive benefits package includes financial protection for you and your family in the event of an accident or death.
BASIC LIFE AND AD&D INSURANCE
arrivia automatically provides basic life and AD&D insurance through New York Life to all benefits-eligible team members AT NO COST. If you die as a result of an accident, your beneficiary would receive both the life benefit and the AD&D benefit. Please be sure to keep your beneficiary designations up to date.
- All eligible team members: 1x base salary up to a maximum of $500,000
SUPPLEMENTAL LIFE AND AD&D INSURANCE
arrivia provides you the option to purchase supplemental life and AD&D insurance for yourself, your spouse, and/or your dependent children through New York Life.
You must purchase supplemental coverage for yourself in order to purchase coverage for your spouse and/or dependents. Supplemental life rates are age-banded. Benefits will reduce to 65% at age 70, 55% at age 75, 30% at age 80, 20% at age 85, and 15% at age 90+.
- Team member: $10,000 increments up to $500,000 or 5x annual salary, whichever is less—guarantee issue: $100,000*
- Spouse: $10,000 increments up to $100,0000 or 100% of the team member’s election, whichever is less—guarantee issue: $30,000*; spouse coverage terminates at age 70
- Dependent children: Under 6 months $500; 6 months to 26 $10,000—guarantee issue: $10,000*
Rates for team member and spouse life insurance are based on the team member’s age and amount of coverage. Child life is $0.50 per pay period for $10,000 of coverage. The rate tables are available on the arrivia Benefit Information page on SharePoint.
*If you elect supplemental coverage when you’re first eligible to enroll, you may purchase up to the guarantee issue amount(s) without completing a statement of health (evidence of insurability). During any following open enrollment periods, you may increase your coverage by one increment - as long as it does not exceed the guarantee issue amount—without completing a statement of health. If you do not enroll when first eligible, and choose to enroll during a subsequent annual open enrollment period, you will be required to submit evidence of insurability for any amount of coverage. Coverage will not take effect until approved by New York Life.
NEW YORK LIFE – Additional Documents
DISABILITY INSURANCE
Disability insurance keeps you and your family financially protected if you become unable to work due to an illness or injury.
SHORT-TERM DISABILITY INSURANCE
arrivia provides you the option to purchase short-term disability (STD) insurance through New York Life. STD insurance is designed to help you meet your financial needs if you become unable to work due to an illness or injury. Benefits will be reduced by other income, including state-mandated STD plans.
- Benefit: 60% of gross weekly earnings up to $1,000 per week
- Elimination period: Injury: 0 days; illness: 7 days
- Benefit duration: Up to 13 weeks
LONG-TERM DISABILITY INSURANCE
arrivia provides you the option to purchase long-term disability (LTD) insurance through New York Life. LTD insurance is designed to help you meet your financial needs if your disability extends beyond the STD period, if elected.
- Benefit: 60% of gross monthly earnings up to $6,000 per month
- Elimination period: 90 days
- Benefit duration: Social security normal retirement age
STD and LTD INSURANCE COSTS
Listed below are the per pay period costs for STD and LTD insurance. Rates are based on team member age.
LONG-TERM DISABILITY INSURANCE: CORPORATE TEAM MEMBERS
arrivia provides basic LTD insurance through New York Life to all benefits-eligible corporate team members AT NO COST. LTD insurance is designed to help you meet your financial needs if your disability extends beyond the STD period, if elected.
- Benefit: 60% of gross monthly earnings up to $6,000 per month
- Elimination period: 90 days
- Benefit duration: Social security normal retirement age