Protect your family’s financial well-being.
Life insurance protects your family financially in the event of your death. You can also choose coverage for your family members, which would provide a life insurance benefit in the tragic event of their death.
Our benefits partner for life Insurance is MetLife.
Basic coverage: DXC automatically provides basic life insurance for employees free of charge (DXC pays the full cost). The basic life insurance benefit amount is equal to one times your base annual earnings (the benefit amount begins to reduce at age 70) and is subject to imputed income. To avoid imputed income, you can elect to limit your Basic Life Insurance benefit to $50,000 during Benefits Annual Enrollment.
Supplemental coverage: If you want additional coverage for yourself and your family, you can choose Supplemental Life Insurance when you are newly eligible, during Benefits Annual Enrollment or within 30 days of a qualifying life event.
- For yourself, you can choose a benefit amount equal to one, two, three, four or five times your base annual earnings. Your total life insurance benefit amount, basic plus supplemental, cannot exceed $1,000,000. The cost depends on your age and the amount of coverage you elect.
- For your spouse/domestic partner, you can choose coverage equal to $5,000, $10,000, $25,000, $50,000, $75,000 or $100,000. The cost depends on your spouse/domestic partner’s age and the amount of coverage you elect.
- For your dependent children under age 25, you can choose a benefit equal to $5,000, $10,000, $15,000, $20,000 or $25,000. The cost depends on the amount of coverage you elect.
Your cost for Supplemental Life Insurance is payable through convenient pre-tax payroll deductions. You’ll be able to see the cost for all your options when make your choices, or you can use the Supplemental Life Insurance Costs Worksheet to calculate your cost.
What to consider
- There are many reasons why you may want to consider additional life insurance coverage, including to help your family pay off student loans or a mortgage, to protect your family’s standard of living or to allow your surviving spouse/domestic partner to retire as planned.
- How much coverage your family needs depends on your personal situation, including other income sources, monthly expenses and short- and long-term debt such as credit card or mortgage expenses.
- To buy Supplemental Life Insurance for yourself and/or your spouse/domestic partner, you’ll need to prove that you and/or your spouse/domestic partner are in good physical health. This is called providing evidence of insurability (EOI). Your EOI must be reviewed and approved by the insurance carrier and is subject to denial.
Our life insurance policy number is 158555-2-G