Basic life and AD&D insurance
Siegwerk provides company-paid employee life insurance coverage of a specific amount that lasts throughout your employment.
To help protect the financial well-being of your loved ones, Siegwerk provides basic life insurance and accidental death and dismemberment (AD&D) insurance for employees — at no cost to you — along with the opportunity to purchase additional voluntary coverage. Review the 2025 Benefits Guide to see your paycheck deductions.
2025 life and AD&D insurance plans
Voluntary life and AD&D insurance
If you want additional coverage, you can buy supplemental life and AD&D insurance for yourself and your family.
Be sure to name a beneficiary
It’s important to designate a beneficiary to receive the benefit paid by a life insurance policy. As personal circumstances change, take the time to keep that information up to date. Visit the Paychex Enrollment Portal to add or change a beneficiary.
Siegwerk provides basic life and AD&D insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by the company and coverage is automatic — you do not need to enroll.
Benefit details:
- The death benefit paid to your beneficiary is equal to 1 times your annual salary, up to a maximum benefit of $300,000 (minimum benefit is $10,000).
- You will receive up to $100,000 with no Evidence of Insurability (EOI) required. If you want more than $100,000, you will be required to provide EOI.
- Benefits are reduced to 65% at age 70 and an additional 50% at age 75.
- AD&D pays a second benefit of the same amount if your death is due to an accident. A portion of the AD&D death benefit is paid for certain disabling accidental injuries.
What is AD&D insurance?
Should you lose your life, sight, hearing, speech, or use of your limb(s) in an accident, AD&D insurance provides additional benefits to help keep your family financially secure. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.
Is my employer-paid policy portable?
Yes. The term “portability” means that you are able to continue your life insurance if your coverage terminates due to events such as termination of employment or retirement.
What does conversion mean?
“Conversion” refers to changing your basic life insurance benefits to an individual whole life insurance policy if your coverage terminates due to events such as employment termination or retirement.
If you want more financial protection beyond the basic coverage that Siegwerk provides, you can buy voluntary life and AD&D insurance for yourself and your family members. You can enroll on the Paychex Enrollment Portal as a new hire, during Annual Enrollment, or if you have a qualifying life event. You pay the full cost of this coverage, which is provided through Prudential. You must purchase coverage for yourself in order to purchase it for your dependents.
Be sure to name a beneficiary
It’s important to designate a beneficiary to receive the benefit paid by a life insurance policy. As personal circumstances change, take the time to keep that information up to date. You are automatically the beneficiary of your spouse’s or child’s life voluntary life insurance policy, unless otherwise designated. Visit the Paychex Enrollment Portal to add or change a beneficiary.
For you
You may elect voluntary life and/or AD&D coverage for yourself:
- Benefit amounts offered in $10,000 increments, up to a maximum of three times your annual salary or $300,000, whichever is less (maximum benefit amount without Evidence of Insurability (EOI) is $100,000).
For your spouse
You may elect life and/or AD&D insurance for your spouse:
- Benefit amounts offered in $5,000 increments, up to a maximum of $50,000 or 50% of your benefit, whichever is less.
For your children
You may elect child life insurance with a benefit amount of $10,000 for children age six months to 26 years. A benefit of $500 is available for children age 14 days to six months. There is no Evidence of Insurability requirement for this coverage.
Evidence of insurability
Voluntary life insurance for you and your spouse may require Evidence of Insurability (EOI), which means your application approval is dependent upon a review of your health information. If you do not take this voluntary coverage when it is first offered to you, you will need to show EOI if you want it later. In addition, if you would like more than $100,000 in coverage, you will be required to provide Evidence of Insurability. After electing coverage, you will receive more information about the EOI process, if EOI is required.