Life and AD&D Insurance

We pay 100% of the cost for Basic Life and AD&D coverage. For additional protection, eligible employees have the option to purchase Voluntary Life and AD&D insurance for themselves and eligible dependents. Voluntary Life and AD&D participants pay 100% of the cost for insurance. The Life and AD&D plans are fully insured by Unum.

Eligibility

All our benefits-eligible employees in the U.S. who work at least 30 hours per week are automatically enrolled in Basic Life and AD&D insurance, effective as of their date of hire. All our benefits-eligible employees have the opportunity to enroll in Voluntary Life and AD&D insurance within 30 days of their date of hire.

BASIC LIFE AND AD&D PLAN SUMMARY

  • Basic Life benefit: 1x annual salary rounded to the next higher $1,000 increment, to a maximum of $1 million. 
  • Basic AD&D benefit: 3x annual salary up to $1 million, if death is the result of an accident; reduced benefits for certain other qualifying losses
  • Coverage amount(s) will be reduced to 65% of original amount(s) when employee reaches age 70

VOLUNTARY LIFE AND AD&D PLAN SUMMARY

  • These benefits are in addition to the Basic Life and AD&D benefit provided by Brookfield Properties
  • Employees who miss the new hire enrollment window and would like to enroll for the first time, or increase their level of Life coverage, will need to submit an application with an accompanying Evidence of Insurability (EOI) form directly to the insurance company. You may enroll or increase your coverage in the plan only after the application has been approved by the insurance company
  • If an employee is already enrolled in the Voluntary Life Plan, and wishes to add a spouse or child due to a Qualified Event, the EOI form is not required
  • You can cancel or reduce your coverage in these plans at any time
  • Coverage amount(s) will be reduced to 65% of the original amount(s) when an employee reaches age 70 for both the employee and spouse if eligible