What you need to know
BAE Systems provides financial protection to you and your dependents in the event of your death or serious injury. You’re automatically enrolled in basic life and basic accidental death and dismemberment (AD&D) insurance at no cost to you.
Take care of your loved ones. Make sure you enter your beneficiary information, as required, when you enroll in your benefits at the BAE Systems Benefit Center. As your life changes, make sure your beneficiary information is kept up to date. You are encouraged to review your beneficiary information during Annual Enrollment each year. Keep in mind that some restrictions apply if you designate a minor as a beneficiary.
Basic life insurance
BAE Systems provides basic employee life insurance coverage equal to your annual base salary, up to $1 million, at no cost to you.
The value of the premiums for coverage above $50,000 is subject to tax as imputed income.
Optional life insurance
You can purchase additional coverage for:
- Yourself: Up to six times your annual base salary, not to exceed a total of $1 million
- Your spouse: In increments of $25,000, up to $250,000
- Your child(ren): $10,000
The amount of life insurance you choose for your spouse cannot be greater than the total amount of your basic plus optional life insurance.
Evidence of insurability may be required.
EstateGuidance will services
If you’re covered under a Hartford Group Life insurance policy, you have access to EstateGuidance® will services provided by ComPsych®. Save time and money with this service, which can help you create a simple, legally binding will quickly and conveniently online.
You also have:
- Online assistance from licensed attorneys who can answer questions you may have.
- The option to save drafts of your will for up to six months, so you can make changes or revisions at no additional cost to you (cannot have printed or have downloaded your will).
- Additional estate planning services that you can purchase, such as the creation of living wills and trusts, guidance about divorce proceedings, and durable power of attorney.
Accidental death and dismemberment (AD&D) insurance
This plan pays a benefit if you die or are injured in an accident. BAE Systems provides basic AD&D insurance coverage equal to your annual base salary, up to $1 million, at no cost to you.
You can purchase additional coverage of up to six times your annual base salary, up to $1 million. If you purchase family coverage, your spouse will be covered at 50% of the optional coverage you elect for yourself, and your child(ren) are covered at 15% of the optional coverage you elect for yourself, up to $50,000 per child.
Business travel accident insurance
This plan pays a benefit if you die or are seriously injured while traveling on company business. BAE Systems provides coverage of up to six times your annual base salary, up to $2 million. You’re automatically enrolled in this plan at no cost to you.