Life & Accident Insurance
Life Insurance
Life Insurance helps protect your family in the event of your death. Cummins provides 1x your annual base pay in life insurance benefits through New York Life at no cost to you.
You can purchase additional life insurance coverage for you and your dependents on an after-tax basis:
- For you: Up to 8 times* your annual base pay, to a maximum of $2 million
- For your spouse/domestic partner: Up to $250,000* in $10,000 increments
- For your dependent child(ren): $10,000 or $25,000 per child
The cost for additional coverage for yourself and/or your spouse will depend upon the insured’s age, amount of coverage elected, and tobacco use. The cost for coverage for children is fixed per month, regardless of the number of eligible children you have.
*Evidence of Insurability is required for some coverage levels.
Accidental Death & Dismemberment (AD&D)
Accidental Death & Dismemberment (AD&D) coverage pays a benefit if you die or suffer serious injury as a result of a covered accident. AD&D complements your life insurance to give you extra coverage for events including paralysis; loss of limbs, speech, hearing, or sight; brain damage; or coma.
- Cummins provides 1x your annual base pay in AD&D coverage at no cost.
- You may purchase additional AD&D coverage on an after-tax basis from 1x to 8x* your annual base pay, up to a maximum of $2 million.
*Evidence of Insurability is required for some coverage levels.
*Evidence of Insurability – If you elect optional life/accident coverage for the first time, you must provide the insurance carrier with Evidence of Insurability (EOI) – Self assessment questionnaire you provide directly to New York Life of your health or your dependent’s health. Once you have made your benefit elections in CHB, you will be able to complete your EOI via a link to New York Life.
Downloads
Insurance Beneficiary Designation Form