2020 Life, Accident and Occupational Insurance

2020 Life, Accident and Occupational Insurance

Basic Life Insurance is automatically provided upon employment at The Aerospace Corporation. You may elect to purchase supplemental life insurance equal to one up to eight times your annual salary rounded to the nearest thousand to a maximum of $1,500,000. Except for new hires and newly eligible dependents who enroll within 31 days of their eligibility effective date, evidence of insurability (EOI) will be required for those who enroll in or increase their life insurance coverage.

You may also purchase limited life insurance coverage for your spouse and/or dependent children only if you elect additional life insurance for yourself. The cost for spousal coverage is based on your spouse’s age at the time application is made to the insurance company. Coverage for eligible dependent children is available at flat weekly rates.

If you are a part-time employee (working between 20 and 40 hours a week), your annual salary for purposes of determining payroll deductions is your hourly pay rate times 20 times 52.

Occupational Accident Plan/Accidental Death and Dismemberment (ADD)
This plan offers you protection for accidental death and dismemberment that occurs while on the job, traveling on company business, or commuting directly to and from your home and your place of work.

Beneficiary Changes 
To update your beneficiaries, please call or log into the Aerospace Benefits Service Center.


Life Insurance
Employee Basic Life Insurance
Basic Life Insurance coverage equals one times your annual salary up to a maximum of $200,000.  This coverage is provided at no cost to you.
(Spouse and dependent coverage below)

Supplemental/Optional Life Insurance
You have the opportunity to further protect your family with Supplemental/Optional Life Insurance coverage. You may choose coverage equal to one, two, three, four, five, six, seven, or eight times your annual salary up to a maximum of 1.5 million.  The cost of this coverage* is age rated. You must elect at least one-time salary of Optional Life Insurance Coverage for yourself in order to elect coverage for your eligible dependents.  Dependent coverage amounts cannot exceed 50 percent of the total life insurance coverage on you.

Spouse Life Insurance*
You may elect Optional Dependent Life Insurance Coverage for your spouse of $25,000 or $50,000. The following rates reflect the weekly cost of coverage. 
Dependent Life Insurance*
Your dependent children must be at least 14 days old to qualify for this coverage. Remember, you must elect at least one-time salary of Optional Life Insurance Coverage for yourself in order to elect coverage for your eligible dependents. 

*Weekly payroll deduction amounts can be found on the Life Insurance Rates page.


Voluntary Personal Accident Insurance
This plan offers full 24-hour, 365-day protection against accidental death and dismemberment anywhere in the world, on or off the job, except as otherwise excluded or limited by the insurance policy. All regular and temporary Aerospace employees who work at least 20 hours a week are eligible for coverage. Your legally married spouse or registered same-gender domestic partner and unmarried children under age 19 are also eligible for coverage. If attending school regularly and depending on you for support, unmarried dependent children over 19 years of age, but under 26 years of age, are also eligible.

Eligible employees and their dependents who work at Aerospace can be enrolled  either as an employee or a dependent, but not both. 

You can select an amount of coverage for yourself in increments of $10,000 up to $600,000, as long as any amount you choose over $300,000 is not more than 10 times your basic annual earnings. You can also cover your spouse or legally registered same-gender domestic partner and each of your dependent children. The maximum coverage available for spouse only coverage is $600,000 (or up to 100% of employee coverage if less). If child coverage is also elected, the maximum coverage for your spouse is $500,000 (or up to 80% of employee coverage if less). You can change your coverage at this annual open enrollment or within 31 days of a change in status event as defined by the IRS Code Sec. 125.

Voluntary Personal Accident Insurance (VPA) Certificate of Insurance

Please see VPA Rates for weekly payroll deductions and information about decreased coverage beginning at age 70.


Occupational Accident Plan/Accidental Death and Dismemberment (ADD)

This plan offers you protection for accidental death and dismemberment that occurs while on the job, traveling on company business, or commuting directly to and from your home and your place of work. These benefits are in addition to Workers‘ Compensation benefits.

Who is eligible?

All regular, casual, and temporary Aerospace employees are eligible for coverage. Regular employees are those who work on a regularly scheduled and assigned basis, either full or part time. Casual employees are those who normally work fewer than 20 hours a week on a noncontinuous, irregular, infrequent, and unscheduled basis. Temporary employees are those who work for not more than 12 months.

Currently, the entire cost of this coverage is paid by the company. You do not have to pay anything to be covered under this plan.

You are covered for accidents on the job and while traveling on business, and for certain specified hazards. The amount of the benefit is four times your basic yearly salary ($50,000 minimum coverage; $400,000 maximum coverage) offset by any amount paid or payable for the same accident under the American Express Card member Travel Accident Program underwritten by Fireman’s Fund American Life Insurance Company, Trust Policy DGA 3251111 (including any rewrite or successor of this Policy), but only if the benefit payable is under an American Express Card issued to you that is sponsored by your employer.

Your basic yearly salary is calculated by multiplying your current weekly salary (excluding bonuses, overtime pay, and other extra compensation) times 52.

Occupational Accident Insurance

Occupational AD&D Certificate of Insurance

How Likely are You to Become Disabled?

The following online tool helps individuals calculate their own Personal Disability Quotient, or PDQ. The calculator, developed by the non-profit Council for Disability Awareness (CDA), first asks the user a few simple questions and calculates a personalized PDQ. It then estimates the user’s future earnings potential, and offers practical tips on how to prevent a disability if possible, or at least prepare for it financially, if unavoidable.