Life insurance and accidental death and dismemberment (AD&D) insurance will help financially protect you and your family in the case of death or serious injury.
Life and AD&D Benefits
All eligible Coke Northeast employees that work at least 30 hours per week are provided company-paid life insurance and accidental death and dismemberment (AD&D) insurance through Lincoln Financial Group. These benefits are non-contributory, which means Coca-Cola pays 100% of the cost.
Coverage | Summary of Benefits |
---|---|
Eligibility | All active, full-time employees. |
Life Benefit | 2x your Annual Earnings rounded to the next higher multiple of $1,000 and does not exceed $750,000. |
AD&D Benefit | 2x your Annual Earnings rounded to the next higher multiple of $1,000 and does not exceed $750,000. |
Age Reduction Schedule | The amount of life and AD&D will reduce at age 70 or older as follows: Ages 70-74: to 50% Ages 75-79: to 30% Ages 80+: to 20% |
Conversion Privilege | Yes |
Contribution Status | Non-Contributory, Coca-Cola pays 100% for employees. |
Optional Employee Life Benefits
All eligible Coke Northeast employees that work at least 30 hours per week are offered optional employee life insurance through Lincoln Financial Group.
Coverage | Summary of Benefits |
---|---|
Eligibility | All active, full-time employees |
Life Benefit | 1x to 5x your Annual Earnings rounded to the next higher multiple of $1,000 and the amount may not exceed $750,000. |
Age Reduction Schedule | The amount of Optional Life will reduce at age 70 or older as follows: Ages 70-74: to 50% Ages 75-79: to 30% |
Conversion Privilege | Yes |
Guaranteed Life Coverage Amount | The lesser of 3x your Annual Earnings or $250,000 |
Contribution Status | Contributory; Age Banded Rates |
Employee Age Range | Life Premium Rate |
---|---|
0 - 24 | $0.050 |
25 - 29 | $0.060 |
30 - 34 | $0.080 |
35 - 39 | $0.090 |
40 - 44 | $0.100 |
45 - 49 | $0.150 |
50 - 54 | $0.154 |
55 - 59 | $0.288 |
60 - 64 | $0.442 |
65 - 69 | $0.851 |
70 - 74 | $1.380 |
75 + | $1.380 |
Optional Dependent Life Benefits
All eligible Coke Northeast employees that work at least 30 hours per week are offered optional dependent life insurance through Lincoln Financial Group.
Coverage | Summary of Benefits |
---|---|
Eligibility | All active, full-time employees |
Life Benefit Spouse Child (under 19 years) | $20,000 $5,000 |
Guaranteed Spouse Life Coverage Amount | $20,000 |
Contribution Status | Contributory |