Overview

It's important to plan for your family's financial security in case the unexpected happens. That's why Masonite provides employees with basic life insurance and basic accidental death and dismemberment (AD&D) insurance — at no cost to you, for all benefits-eligible employees.

If you want added protection for you and your family, you can purchase Supplemental Life and AD&D Insurance.

Basic Life and AD&D

Masonite provides basic life and AD&D insurance to assist you and your family in the event of a death or dismemberment. These benefits are fully paid by the company. Note: Company-paid coverage is automatic; you do not need to enroll.

Basic Life and AD&D benefits are equal to:

  • Salary employees: 1.5 times your annual earnings
  • Hourly employees: 1 time your annual earnings
iconWhat is AD&D insurance?

Should you lose your life, sight, hearing, speech, or use of your limb(s) in an accident, AD&D provides additional benefits to help keep your family financially secure. AD&D benefits are paid as a percentage of your coverage amount — from 50% to 100% — depending on the type of loss.

Supplemental Life and AD&D

You can purchase additional life and AD&D insurance for yourself, as well as coverage for your spouse/domestic partner and your child(ren). You pay the full cost of any supplemental life insurance and/or supplemental AD&D insurance coverage. You must purchase coverage for yourself in order to purchase it for your dependents.

  • Supplemental employee life and AD&D – You may elect the following coverage:
  • Supplemental employee life — $10,000 to $500,000, in increments of $10,000.
  • Supplemental employee AD&D — $10,000 to $600,000, in increments of $10,000, not to exceed 5 times your annual earnings
  • Guaranteed issue amount for both life and AD&D is $300,000; electing coverage above the guaranteed issue amount will require Evidence of Insurability
  • Spouse/domestic partner life and AD&D – You may purchase:
  • Life and/or AD&D insurance for your spouse or domestic partner in $10,000 increments, up to $250,000 (not to exceed 100% of your supplemental employee coverage amount)
  • Guaranteed issue amount for both life and AD&D is $50,000; electing coverage above the guaranteed issue amount will require Evidence of Insurability
  • Child life insurance – You may purchase life and/or AD&D insurance for your child(ren). Coverage for children from birth to six months is $1,000. Coverage for children age six months to 19 years or to age 26 if a full-time student in $1,000 increments, up to $10,000 (coverage for children from birth to six months is $1,000)
iconEvidence of insurability

You will need to show proof of good health for life insurance amounts elected above the Guarantee Issue Amount. You will be required to complete an EOI form and submit it to Unum. In addition, if you decline supplemental life insurance and decide to enroll later due to a qualified life event or future Annual Enrollment, then you must complete an EOI form. Unum will evaluate and determine whether the requested coverage is approved or denied.

iconHave you named a beneficiary?

Remember to name a beneficiary for both the Basic and Supplemental Life/AD&D Insurance you choose. If you don't, your benefit will be paid according to insurance company guidelines.