Life and AD&D

Magellan Health Lennox provides all benefits-eligible employees with 100% Company-paid Basic Life and Accidental Death & Dismemberment (AD&D) coverage.

If needed, you can purchase supplemental insurance policies for yourself or dependents during Open Enrollment.

You must designate at least one primary beneficiary (those who should receive the benefit payout).

Eligibility

Benefit Features

Basic Employee Life and AD&D Coverage

As part of the annual Open Enrollment process, you will be automatically enrolled in 100% Company-paid Basic Life Insurance and Accidental Death & Dismemberment (AD&D) coverage through Voya Financial.
  • Basic Life Insurance helps protect your family’s financial well-being in case you pass away unexpectedly. Your benefit amount is equal to 1x your basic annual earnings.*
  • Basic AD&D Coverage is paid in the event of your accidental death or covered accidental injury. Your benefit amount is equal to 1x your basic annual earnings.*
You must designate at least one beneficiary for each of your Company-paid policies, and you can change any time.

NOTE: A gradual reduction in your Company-paid Life Insurance coverage amount begins at age 65.*

*Basic annual earnings is defined as your basic annual salary as of April 1 of each year, along with any overtime, commissions, incentives, and bonuses paid from Jan 1 to Dec 31 of the previous year. Refer to plan documents for details.

Supplemental Employee Life and AD&D Coverage

During annual Open Enrollment, you have the option to purchase additional Life and AD&D coverage for yourself through Voya Financial. Monthly costs are determined by your current age and coverage amount.
  • Supplemental Life Insurance can be purchased in increments of $1,000 between 1x – 5x your basic annual earnings (maximum $3,500,000).*
  • Supplemental AD&D Coverage will be equal to your elected Supplemental Life Insurance amount.
You must designate at least one beneficiary for your elected Supplemental plan(s), and you can change any time.

NOTE: A gradual reduction in your Supplemental Life Insurance coverage amount begins at age 65.*

*If you purchase additional coverage over 1x your basic annual earnings, you may be required to submit an Evidence of Insurability (EOI) form to Voya Financial, which must be approved before your coverage becomes effective. Refer to plan documents for details.

Supplemental Spouse and/or Dependent Life Insurance

Life Insurance may also be purchased for your dependents such as your spouse, child(ren), or other eligible individuals during annual Open Enrollment. If an insured dependent passes away unexpectedly, you (the employee) will automatically be declared the beneficiary.

Based on your needs, you can choose either the High or Low option:

Plan Option Max Coverage Amount
High Spouse – $20,000
Per Child – $10,000
Low Spouse – $10,000
Per Child – $5,000

NOTE: A gradual reduction in your Dependent’s Life Insurance coverage amount begins when they turn age 65.*

*If you purchase dependent life coverage, you may be required to submit an Evidence of Insurability (EOI) form to Voya Financial, which must be approved before their coverage becomes effective. Refer to plan documents for details.

Accelerated Death Benefits

Qualifying employees with at least $10,000 in Lennox Life Insurance coverage are eligible to receive accelerated benefits if they’re diagnosed with a terminal illness and have a life expectancy of six months or less.

The benefit amount is equal to 75% of your Life Insurance coverage amount, or $500,000, whichever is less.
  1. Visit the Voya Online Claims Center at Voya.com/Claims.

  2. Click on “Get Started” under “Start a Claim”. Enter Lennox group #67102-9 and your policy number.

  3. After answering a few questions, you will be asked to upload supporting documentation for your claim.

  4. Electronically sign and submit your claim. You will immediately receive an email with a confirmation number letting you know the claim submission was successful.

Keep in Mind

It’s important to remember, the value of any coverage amount of Company-provided Life Insurance greater than $50,000 is considered “imputed income” and will appear on your W-2 form.

Additional Information

Voya – Life and AD&D Insurance Plan Documents
Voya – Empathy Bereavement Support, Funeral Planning & Will Preparation
Voya – Importance of Naming a Beneficiary
Voya – Special Considerations for Beneficiary Designations
Voya – Should You List a Minor as Your Beneficiary?
Voya – Support for Beneficiary with Special Needs

Video

Benefit Basics: Supplemental Life Insurance