Accidents happen. It’s a fact of life. But you can soften the financial impact of an accidental death or injury.
Accidental death and dismemberment (AD&D) benefits protect your family financially in the event of a tragic accident. Rich’s automatically provides basic AD&D coverage for you free of charge. And for those eligible, if you decide your family needs more protection, you can elect supplemental and dependent AD&D coverage.
AD&D plans are administered by MetLife.
Choose Your Beneficiaries
Your family depends on you for all kinds of things—including your pay. Make sure to choose the people and/or estate who receive your AD&D coverage benefit if you die as the result of an accident. It is important that you make your beneficiary elections on the enrollment website at benefits.rich.com.
First, gather the Social Security numbers and birth dates for each beneficiary. Then, when you’re enrolling in AD&D coverage, you’ll be prompted to designate your beneficiaries.
You can change beneficiaries at any time. But if you die and have no beneficiaries on file, the benefit may—or may not—eventually reach the individual(s) you would prefer. The result could be a significant delay in payment during an already challenging time for your loved ones.
Note: You are the beneficiary if you’re seriously injured as the result of an accident. The benefit paid is based on a percentage of your AD&D coverage amount, depending on your type of loss.
Things to Consider
When deciding whether to enroll in supplemental and dependent AD&D coverage, be sure to consider the following:
Cost per Paycheck
The cost of supplemental and dependent AD&D coverage is based on the level of coverage you elect. You’ll be able to see the cost per paycheck for your options when you enroll.
Your Life Insurance Election(s)
Remember that AD&D coverage is intended to help protect your family financially if you or a covered family member dies or suffers a serious injury resulting from an accident. Because AD&D coverage pays a benefit only in the event of an accident, it is not a substitute for life insurance.