Overview

It’s important to plan for your family’s financial security in case the unexpected happens. That’s why Xerox provides employees with basic life insurance — at no cost to you.

You also have the option of buying supplemental life and/or supplemental accidental death & dismemberment (AD&D) insurance for yourself and your family through easy payroll deductions.

 

Life Insurance

Xerox offers a variety of life insurance options to protect your family’s financial future. Xerox provides basic life insurance at no cost to you; this benefit is fully paid by the company and is automatic, so you do not need to enroll. (Note that the IRS requires you to pay income taxes on the value of basic life insurance over $50,000, known as imputed income.)

You also have the option to purchase additional coverage for you and your dependents (called optional life insurance). If you purchase additional coverage for yourself and your spouse/domestic partner, the cost varies depending on whether you or your spouse/domestic partner uses tobacco. (Note that any attestation already on file will automatically roll over for next year; be sure to make changes — if applicable — when you enroll.)

If you make changes to your optional life insurance, you may be required to submit evidence of insurability (EOI); see the chart below for when EOI is required. Note that new coverage and new rates will not be effective until your EOI is approved.

Life Insurance Coverage and Options

Coverage Your Options When Evidence of Insurability (EOI) Is Required
Employee Basic Life Insurance (company paid) 1x base annual earnings*, rounded to the next higher $1,000, up to $300,000

Note: When you are age 65 or older, your amount of basic life insurance is limited to 65% of your base annual earnings. When you turn 70, it is limited to 50%.
EOI is not required.
Employee Optional Life Insurance
  • No coverage
  • 1 to 10 times base annual earnings*, up to $5 million
  • You do not enroll for coverage when first eligible and wish to enroll at a future date
  • When you are first eligible, you elect coverage that exceeds the guaranteed issue amount** – the lesser of $500,000 or three times your base annual earnings
  • During Annual Enrollment, you may increase your existing coverage by one increment up to the guaranteed issue amount** (the lesser of $500,000 or three times your base annual earnings) without EOI
Spouse/Domestic Partner Life Insurance***
If you and your spouse/domestic partner both work for Xerox, you may not elect spouse/domestic partner life insurance coverage.
Rates are based on spouse/domestic partner age and elected coverage.
  • No coverage
  • $25,000 increments, up to $250,000
  • You do not enroll for coverage when you are first eligible and wish to enroll at a future date
  • When you are first eligible, you elect coverage that exceeds the guaranteed issue amount** – $25,000
  • You increase this coverage
Child Life Insurance***
Children may be covered up to age 26.
  • No coverage
  • $5,000 increments, up to $20,000
  • Note: All eligible children are automatically covered for the same amount.

EOI is not required.

*For Xerox employees - Base annual earnings means your pay as of September 1, 2021, or your date of hire, whichever is later.

*For XBS employees - Base annual earnings means your pay as of September 1, 2021, or your date of hire, whichever is later. For sales employees, an Annual Benefit Base Rate (ABBR) will be used to determine your coverage benefit. The ABBR is based on gross wages from September 2020 through August 2021, or base pay as of September 2021, whichever is higher.

** A guaranteed issue amount is the amount of insurance available to you regardless of your health status, age, gender, or other factors that may predict your health services usage.

*** You are the beneficiary of spouse/domestic partner and/or child coverage. It is your responsibility to remove child life insurance and/or child AD&D once you no longer have any children under age 26, it will not automatically drop coverage.

You’re covered wherever you are with the Travel Assistance Program

With basic life insurance coverage, you also have access to the Travel Assistance Services through the International Medical Group (IMG). Call 1.855.847.2194 toll-free from within the U.S, or visit BenefitsWeb to view the details.

 

Accidental Death & Dismemberment (AD&D) Insurance

Xerox offers a number of AD&D insurance options to meet your needs. This coverage pays benefits in the event you and/or your eligible dependents die or suffer certain serious impairments due to an accidental injury.

You pay the full cost of any AD&D coverage you elect. Note that evidence of insurability is not required for AD&D coverage.

AD&D Coverage and Options

Coverage Your Options
Employee AD&D Insurance
  • No coverage
  • $50,000 increments, up to $1 million
Spouse/Domestic Partner AD&D Insurance
  • No coverage
  • $50,000 increments, up to $500,000
Child AD&D Insurance
  • No coverage
  • $25,000
  • $50,000
Have you named a beneficiary?

It's important to designate a beneficiary to receive the benefit paid by a life insurance or AD&D policy. As personal circumstances change, be sure to keep that information up-to-date. Visit BenefitsWeb or call 1.800.428.2203 to add or change a beneficiary.