Life, Accident & Disability Insurance
When bad stuff happens, it pays to be prepared.
Life catches us all by surprise sometimes. Actually, not all of us; as an employee, you’re always covered with Life, Accident and Disability insurance.
ServiceNow provides all eligible employees with:
Basic and AD&D Life Insurance at two times their annual salary up to $1 million.
*Employees are able to purchase additional Life and AD&D coverage at a discounted cost
We also provide all eligible employees with Short and Long-Term Disability Insurance. Each one has different cost levels, vendors, and nuances, so read up to make sure you know exactly how you’re covered.
Call: (925) 658-1581
The Larkin Company
Policy/group #: N/A
Call: (650) 938-0933
Policy/group #: 52661
Call: (800) 842-1718
Life and AD&D
Policy/group #: 52661
Call: (800) 524-0542
When you’re too hurt to be at work, at least you don’t have to face it with an empty pocketbook. Disability insurance will preserve a portion of your income until you’re ready to come back.
There’s two types of disability insurance.
Replaces 70% of your weekly salary, up to $2,600 per week for up to 180 days. The benefit begins eight days from the initial date of your disability. The benefit is based on your pay as of your last day of full-time work. The Larkin Company provides this coverage for ServiceNow employees.
Long-term disability (LTD)
Replaces 60% of your monthly salary after the 180th day of your disability. Long-term disability pays up to $20,000 per month, reduced by any other sources of disability income you receive. The value of the premium will be added to your taxable income so that any benefit received will be non-taxable. Prudential is ServiceNow’s vendor for LTD coverage.
Life and AD&D Insurance
ServiceNow provides you with two different types of life and accidental death & dismemberment (AD&D) insurance. Don’t be discouraged by the scary names; these plans will protect your loved ones in case something happens to you.
Insurance through Prudential covers you for 2x your annual salary, up to $1,000,000. We pay for this coverage on your behalf, but there’s one catch: according to federal tax law, only the first $50,000 of employer-paid life insurance is available tax-free. The tax, called Group Term Life (GTL) is nominal. However, you have the option to cap your benefit at $50,000 if you feel that is enough insurance for your beneficiaries. You will need to work with the GTO Benefits Team to reduce your benefit to $50,000.
Voluntary Life and AD&D
Insurance through Prudential allows you to purchase additional life and AD&D insurance, as well as additional coverage for your spouse/domestic partner and/or child(ren). You do not need to enroll in Voluntary Life coverage to obtain Voluntary AD&D coverage and your coverage amounts do not need to be the same.
Important terms to remember for Voluntary Life:
- Evidence of Insurability: Also known as “evidence of good health” is the process by which Prudential determines if you are insurable for the amount of coverage you want.
- Guarantee Issue: The amount of Voluntary Life coverage you can get without providing EOI
In order to apply for spouse/domestic partner/children Voluntary Life and Voluntary AD&D coverage, employee must also enroll.
If you have Voluntary Life coverage up to the Guaranteed Issue Amount, you can get up to $40,000 in coverage during Open Enrollment without submitting an EOI.
|Coverage||Voluntary Life Coverage Options||Voluntary AD&D Coverage Options|
|Employee||$10,000 increments up to $500,000 (Guaranteed issue is $200,000) *||$10,000 increments up to $500,000|
|Spouse/Domestic Partner||$5,000 increments up to 100% of the employee's Voluntary Life to a max of $500,000 (Guaranteed Issue is $50,000) *||$5,000 increments up to 100% of the employee's Voluntary AD&D amount to a max of $500,000|
|Child(ren)||$1,000 increments up to $10,000 (Guaranteed issue is $10,000)*||Flat $10,000 benefit.|