Employees are insured from the first day of employment. After one year of service, all regular exempt, non-exempt, union active full-time employees and Argonne Scholars are covered by the long-term disability plan. You must work at least 20 hours per week to be considered a full-time employee under the group policy. The Laboratory also covers all employees in pay status while traveling on business for the Laboratory in the event of death or physical dismemberment resulting from a covered accident.
Basic Life and Accidental Death and Dismemberment (AD&D) Insurance
- Regular employees are insured, at no cost to the employee, for one times the employee’s annual base salary up to a maximum of $300,000. Eligible employees become insured on the first day they start work.
Voluntary Life and AD&D Insurance
- Regular employees can elect voluntary life insurance coverage in amounts from one to five times their annual base salary (in addition to basic life) up to $1,000,000. Employees pay the entire cost of the voluntary coverage for which they are approved. The cost is based on the employee’s age and the amount of coverage chosen. Changes to voluntary life insurance coverage can be made at any time, however, evidence of insurability will be required.
- If voluntary coverage is elected within 30 days of eligibility, a coverage amount of one times your annual base salary, up to a maximum of $250,000, will be guaranteed without evidence of insurability. Amounts over this will require you to provide evidence of insurability. Coverage will be effective the date on which the carrier authorizes payroll deduction for this coverage. Coverage for two, three, four, or five times annual base salary will become effective on the date the carrier specifies in writing.
- Voluntary AD&D can be elected separately from Voluntary Life Insurance in amounts from one to five times annual salary, up to $1,000,000. Evidence of insurability is not required. Changes to AD&D can be made at any time.
Dependent Life Insurance
- Employees can elect to purchase dependent life coverage as follows:
- $7,000 for legal spouse/civil union partner,
- $3,000 for eligible dependent children ages six months to age 26
- $500 for eligible dependent children under the age of 6 months
Business Travel Accident
- Argonne provides insurance to cover employees while traveling on business for the Laboratory in the event of death or physical dismemberment resulting from an accident. The maximum benefit is $300,000. Employees are covered from the first day of employment and the cost of the Business Travel Accident Plan is paid by Argonne.
- A monthly income benefit equal to 60% of the employee’s monthly wage base, not to exceed $15,000 per month, will be provided to eligible employees who have been on a continuous disability for six months and have had benefits approved by the insurance carrier.
- Health insurance for employees on an approved disability will be continued at active employee rates and retirement contributions will be made by Argonne on behalf of the disabled employee. Service credit for retiree health care continues to accrue while an employee is on disability.