Life & AD&D Insurance

These plans provide protection and peace of mind to you and your family in the event of death or serious illness or injury. DICK’S provides basic life and accidental death and dismemberment (AD&D) insurance, as well as plans that allow you to purchase additional coverage for yourself and your dependents.

For help calculating the right amount of life insurance for you and your family, use this online calculator.

• Basic life and AD&D

  These benefits are paid for entirely by DICK’S.

  You are automatically enrolled in basic life insurance when you become eligible. Basic life insurance provides a benefit of 1x your annual salary to your named beneficiary(ies) in the event of your death.

  You are also enrolled automatically in the AD&D plan that pays benefits of up to an additional 1x salary to you (in the event of an accidental dismemberment) or your named beneficiary (in the event of your death).

• Supplemental Life

  In addition to the basic life insurance benefit, you can purchase up to $1 million of supplemental life coverage up to an additional 7x your salary.

  You purchase this coverage with after-tax contributions deducted from your pay. The cost is based on your age and annual salary. As your age and salary changes, your premiums and your coverage amount will change.

  If your salary is not evenly divisible by $1,000, coverage is rounded up to the next higher increment of $1,000. For example, if your annual base salary is $46,500 and you are electing 1x your salary, your coverage amount is rounded up to $47,000. Proof of good health is required if your supplemental life coverage exceeds $400,000.

• DEPENDENT LIFE INSURANCE

  This optional benefit offers financial protection if your spouse, domestic partner or eligible child dies. Premiums are deducted from your pay on an after-tax basis. The following options are available:

  Spouse or domestic partner: $10,000, $20,000 or $50,000

  Child(ren): $10,000 or $20,000 (from birth to six months, the coverage is $1,000)

  Eligible dependents for this coverage

  • Your legal husband or wife, as long as he or she is not a teammate

  • Your children to age 26

  • Your domestic partner, as long as he or she is not a teammate

  If both you and your spouse or domestic partner are eligible teammates, your children can be enrolled as dependents under only one dependent life insurance plan. Also, neither of you can be covered under the dependent life plan since you are already covered by the basic life plan.

  If your spouse, domestic partner or dependent dies while covered by this plan, you will receive the dependent life insurance benefit in one lump-sum payment.

• Supplemental Accidental Death and Dismemberment (AD and D)

  In addition to the basic life and supplemental life insurance benefits, you can purchase up to $1 million of supplemental accidental death and dismemberment (AD and D) coverage up to an additional 7x your salary without having to provide proof of good health or evidence of insurability. Supplemental AD and D provides additional financial protection in case of severe injuries or death resulting from an accident. You purchase this coverage with after-tax contributions deducted from your pay. The cost is based on your age and salary. As your age and salary changes, your premiums and your coverage amount will change. Premiums are deducted from each pay through after-tax deductions.

  If your salary is not evenly divisible by $1,000, coverage is rounded up to the next higher increment of $1,000. For example, if your annual salary is $46,500 and you are electing 1x your salary, your coverage amount is rounded up to $47,000.

• Proof of Good Health

  Proof of good health is not required if you are:

  • Enrolling within 31 days of your initial eligibility.

  • Enrolling or increasing your election one coverage level (e.g., going from 2x to 3x salary) within 31 days of a qualifying life event/employment status change.

  • Enrolling during Benefits Annual Enrollment at 1x salary or if you are already enrolled in the plan increasing coverage by one level (subject to $400,000 maximum).

  If you choose to enroll outside of these specified periods, you must provide proof of good health (also known as evidence of insurability, or EOI), regardless of the amount of insurance you are enrolling in.

• Keep Your Beneficiaries Up to Date

  Your family depends on you and your income, so it is important that they are protected if something happens to you. One of the best ways to protect your loved ones is making sure you designate your beneficiaries—the people who will get paid your life insurance benefit if you die.

  You can add or change your beneficiaries at any time in the bswift platform. To add a beneficiary or to change a beneficiary’s designation outside of an enrollment, go to Manage Profile in the header and click on the Beneficiaries link in the left navigation menu. Your dependents will be automatically listed as available beneficiaries, but if you want to add another, you can use the Add Beneficiary button to enter the new beneficiary’s information. After saving the new beneficiary, go back to the My Profile >> Beneficiaries page, where your new beneficiary should appear. Enter the new percentage designations, then save.

  Don't forget about your 401(k) Plan. Log on to Vanguard, then select "My Profile" to update your beneficiaries for your 401(k) Plan account.

• Your Coverage if You Leave the Company

  Your basic, supplemental and dependent life coverage is portable. If approved by the carrier, if you leave the Company, you can continue your term life coverage on a direct pay basis with Lincoln Financial. You can also convert your coverage to whole life policies.

  Check with Benefits for more information at 1-800-690-7655, ext. 3012, option 5.