Life Insurance

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Life Insurance

Protect your loved ones with life insurance. Ulta Beauty offers various life insurance options to provide a financial benefit to you or your designated beneficiaries. Your coverage, as well as coverage for your spouse and child, if applicable, is portable, meaning you can take it with you if you leave Ulta Beauty.

• Basic Life Insurance

  Eligibility: Full-time associates

  Provider: Unum

  Enroll:https://ultabenefits.bswift.com/

  Ulta Beauty provides all benefit-eligible Associates with company-paid basic life insurance through Unum. You do not need to enroll to receive Basic Life Insurance – coverage is fully paid by Ulta Beauty. This coverage provides a financial benefit to your assigned beneficiaries in the event of your passing.

  	Hourly (Non-Exempt)	Salary (Exempt)	Officer
  Basic Life (Company Paid)	$20,000	1x Salary up to $400,000	1.5x salary to max of $1,000,000

  Rates and information can be found at ultabenefits.bswift.com.

• Supplemental Life Insurance

  Eligibility: Full-time associates

  Provider: Unum

  Enroll:https://ultabenefits.bswift.com/

  All benefit-eligible associates can also purchase supplemental life insurance through Unum for themselves and their dependents. This benefit provides additional financial benefits to your designed beneficiaries should you or your dependents pass away.

  If you elect at least $10,000 when first eligible, you can increase your amount in future years up to the guaranteed issue amount with no Evidence of Insurability (statement of good health).

  To purchase supplemental coverage for your spouse and/or children, you must purchase equal or greater coverage for yourself.

  Supplemental Life (Increments of $10k)

  	Hourly (Non-Exempt)	Salary (Exempt)	Officer
  Associate	4x salary up to $500,000	4x salary up to $1,000,000	4x salary up to $1,000,000
  Spouse*	100% of Associate amount up to $150,000	100% of Associate amount up to $350,000	100% of Associate amount up to $350,000
  Child*	$10,000	$10,000	$10,000

  Rates and information can be found at ultabenefits.bswift.com.

  *To purchase Life or AD&D coverage for your spouse and/or children, you must purchase equal or greater coverage for yourself.

• Accidental Death and Dismemberment (AD&D)

  Eligibility: Full-time associates

  Provider: Unum

  Enroll:https://ultabenefits.bswift.com/

  Benefit-eligible Associates can purchase accidental death and dismemberment (AD&D) insurance through Unum for themselves and their dependents. AD&D is a type of life insurance that provides financial benefits if you were to die or be seriously injured as a result of an accident. To purchase AD&D coverage for your spouse and/or children, you must purchase equal or greater coverage for yourself.

  AD&D (Increments of $10k)

  	Hourly (Non-Exempt)	Salary (Exempt)	Officer
  Associate	Up to $500,000	Up to $500,000	Up to $500,000
  Spouse*	100% of associate amount up to $150,000	100% of associate amount up to $350,000	100% of associate amount up to $350,000
  Child*	$10,000	$10,000	$10,000

  Rates and information can be found at ultabenefits.bswift.com.

  *To purchase Life or AD&D coverage for your spouse and/or children, you must purchase equal or greater coverage for yourself.

• Whole Life Insurance

  Eligibility: Full-time associates

  Provider: Unum

  Enroll:https://ultabenefits.bswift.com/

  Benefit-eligible associates also have the option to purchase Whole life insurance*. This policy pays money to your family in the event of your passing but is also available for you to use during your working years and into retirement. Once you’ve bought coverage, your cost won’t increase as you age. Coverage is guaranteed as long as you pay premiums. This policy can also build funds over time through a cash value component. When you purchase Whole Life insurance, it also includes the following riders (additions to your policy): Accelerated Death Benefit for Terminal Illness, Accelerated Death Benefit for Long Term Care, Accidental Death Benefit, and Waiver of Premium. Details can be found below the chart.

  • Premiums are conveniently deducted from your paycheck.

  • You can choose this plan in addition to Ulta’s basic company paid life insurance and any other supplemental life insurance plans you have elected.

  Benefit	Benefit Amount	Benefit Amount Limits
  Associate Whole Life (ages 15-75)	$5,000 - $150,000 in increments of $5,000	Guaranteed issue amount of $150,000 during initial enrollment period. Anything over the guaranteed issue amount is subject to medical underwriting through an Evidence of Insurability (EOI) application.
  Spouse Whole Life (ages 15-75)	$5,000 - $25,000 in increments of $5,000	Guaranteed issue amount of $25,000 during initial enrollment period. Anything over the guaranteed issue amount is subject to medical underwriting through an Evidence of Insurability (EOI) application. You must purchase coverage for yourself before purchasing coverage for your spouse. If electing spouse and child(ren) coverage - the amount of Spouse Whole Life plus Child Whole Life must not be more than 100% of the Associate Whole Life amount.
  Child(ren) Whole Life (ages live birth-26)	$20,000	Guaranteed issue amount of $20,000 during initial enrollment period. If electing spouse and child(ren) coverage - the amount of Spouse Whole Life plus Child Whole Life must not be more than 100% of the Associate Whole Life amount.

  Terminal Illness Benefit*

  The Accelerated Death Benefit for Terminal Illness provides an advance payout of your death benefit if you’re diagnosed with a terminal illness and expected to live 24 months or less. You can receive up to 100% of the death benefit to a maximum of $150,000 and it can help cover your costs while you’re still alive, premiums are not collected during this time. Benefits received under this provision are taxable and any payout would reduce the benefit that’s paid when you die.

  Long Term Care Benefit*

  The Accelerated Death Benefit for Long Term Care provides an advance payout of your death benefit to pay for care at home, long-term care facility, assisted living facility, or an adult day care. The amount, timing, and release of the payout is dependent upon various factors including specific health condition, eligibility for the payment of benefits, activities of daily living, type of care facility, and more.

  Accidental Death Benefit*

  The Accidental Death benefit increases the payment your family would receive if you die from a covered accident before age 70. Coverage is available for you and your spouse. The death benefit could be doubled, which could add up to $150,000 extra coverage.

  Waiver of Premium*

  If you’re totally disabled for at least six months before age 65 and you remain totally disabled, you won’t have to pay premiums until you recover and return to work. During the six-month elimination period, premiums must continue to be paid. During the period of total disability, the cash value does not increase.

  *Please review the Unum Whole Life Insurance document found in the Ulta Beauty benefits bswift portal library – ultabenefits.bswift.com for detailed information about Whole Life and all of the riders included with this benefit. This document will provide you with an outline of coverage, limitations, disclosures, eligibility, exclusions, and more.

  Rates and information can be found at ultabenefits.bswift.com.

• Life Insurance

  Eligibility: Part-time associates

  Provider: MetLife

  MetLife offers life insurance to cover a portion of your family's financial needs in the event of death.

  Part-time Associates can purchase life insurance through MetLife to cover a portion of your family's financial needs in the event of death. You can also purchase dependent life insurance that provides additional coverage for spouses, domestic partners, and eligible children in the event of a death.

  Rates and information can be found at ultabenefits.bswift.com.

  Visit MetLife’s website for additional detailed plan information - https://www.metlife.com/info/ulta-parttime-associates/benefits/life-coverage/.

Refer to the certificates in the bswift library for specific life insurance plan benefit maximum and levels of coverage that require Evidence of Insurability. Annual earnings include salary, wages, and commissions, but excludes bonuses and overtime.