Briggs & Stratton provides benefits-eligible employees with group term life and accidental death and dismemberment (AD&D) insurance through Prudential. You also have the opportunity to elect additional life insurance for yourself and your family. Need help determining how much life insurance you need? Click here.
Basic Employee Life and AD&D Insurance
As a benefits eligible employee, you are eligible for company-paid basic Life and Accidental Death & Dismemberment (AD&D) insurance coverage.
- If you are a salaried employee at any location or are an hourly employee working at Sherrill, Milwaukee, Holdrege or Lee’s Summit locations, you have coverage in the amount of 2 times your base annual salary up to a limit of $500,000 or you may choose a lower coverage of $50,000 to avoid the imputed income applied to coverages above $50,000.
- If you are an eligible hourly employee in Auburn, Poplar Bluff, Statesboro and Tucker, you have coverage in the amount of $25,000.
This coverage doubles if you die as a result of an accident.
Voluntary Employee Life and AD&D Insurance
You can elect additional Life and AD&D coverage for yourself above the basic coverage. This is known as voluntary life and AD&D insurance. Your premium cost is based on the amount of coverage, your age and your smoker status.
If you are a salaried employee at any location or are an hourly employee working at Holdrege or Lee’s Summit locations, you may elect one to three times your base salary, up to a limit of $500,000.
If you are an hourly employee at another location, you may elect one of the following levels of coverage:
- $25,000; $50,000; $75,000; $100,000; or $125,000
Voluntary Dependent Life Insurance
You can also elect to provide life insurance coverage for your spouse and your dependent children up to age 26.
Voluntary dependent options are:
- Spouse: you can elect $10,000; $20,000; or $40,000 of coverage.
- Dependent Children: you can elect $5,000; $10,000; or $20,000 of coverage.
To determine what your life insurance costs will be, log into the bswift enrollment website. The costs will be listed for each available benefit. Remember, too, that the costs are based on 5-year age bands, so it’s always a good idea to review the costs annually.
Note: Spousal coverage cannot exceed 50% of employee coverage (Basic and Supplemental combined). Dependent coverage cannot exceed 100% of employee coverage.
Evidence of Insurability
Evidence of Insurability (EOI) is required for:
- Employee life coverage of over $250,000.
- If you want to increase your current coverage by more than one level or re-enroll after waiving coverage in the past.
- If you want to increase your spouse’s current coverage or re-enroll him/her after waiving coverage in the past.
If you elect life insurance that requires EOI, the benefits enrollment system will open a link to the Prudential website where you will be able to respond to a series of questions. New coverage will not go into effect until Prudential has approved your request. You will be notified in writing as to whether coverage is approved or denied.
For additional information please contact the Benefits Service Center at 877) 232-1083.