Life Insurance
AD&D
Identity Protection
Basic Life Insurance is offered directly through MetLife and provides financial protection for your survivors if you die while you are an active employee of the Company. BorgWarner pays the full cost of this valuable benefit.
2 times your annual base pay - from a minimum of $50,000 to a maximum benefit of $1 million. Note: Your benefit will be reduced at age 65 and again at age 70.
Note: According to government rules, imputed income will be assessed on your paycheck and appropriate taxes will be deducted. You may choose to cap the benefit at $50,000 of coverage. If you are interested in capping your benefit, please complete the required information on your online enrollment form.
Contact MetLife directly to designate or change your beneficiary for Life Insurance
www.metlife.com/mybenefits
For those who feel they need added protection beyond what is provided under the Basic Life benefit, BorgWarner offers a number of Optional Life Insurance plans directly through MetLife that employees can purchase, including:
To enroll or for details about your Optional Life Insurance options, please refer to your MetLife enrollment materials. Or, contact MetLife at www.metlife.com/mybenefits, or call +1 888-622-6616.
IMPORTANT: You must enroll for optional life insurance within 30 days of a qualifying benefit event to qualify for guaranteed coverage. Guaranteed coverage for employees is four times annual base pay and $25,000 for spouses. Contact MetLife for details.
By purchasing Optional Life Insurance, you gain financial security and peace of mind, but you also gain access to other valuable services:
BorgWarner automatically provides AD&D insurance through MetLife at no cost to you. This coverage provides assurance that you and your family are protected from financial hardship of unforeseen circumstances, such as a loss of limb due to an accident or death. The AD&D coverage is as follows:
1 times your annual pay up to $500,000 Note: Your benefit will be reduced at age 65 and again at age 70.
You may purchase Voluntary AD&D insurance or coverage for you, your spouse and/or your children. You pay the full cost of coverage, but have access to more favorable group rates than if you purchased outside of BorgWarner.
Voluntary AD&D pays benefits if you or a covered dependent suffer a covered accident that results in paralysis or the loss of a limb, speech, hearing, sight, brain damage or coma. If you suffer a fatal accident, benefits would be paid to your beneficiary.
There are some standard benefits included in this coverage - such as air bag and seatbelt use - that may increase the amounts payable to you or help offset additional expenses that result from accidental injury or loss of life. See the Summary Plan description for details.
You may apply for Voluntary Life Insurance during enrollment or anytime throughout the year quickly and securely online using the “MyBenefits” website from MetLife.
metlife.com/mybenefits
Be sure to designate a beneficiary when you enroll.
Getting Married or Having a Baby?Be sure to let MetLife and the HR Link team know of any changes to dependents.
Allstate offers an Identity Protection plan that includes monitoring, immediate and proactive alerts and full-service restoration, with the option to choose individual or family coverage. A dependent is considered to be anyone that lives under the same roof or who is financially dependent upon you for this plan. The plan features deliver low-cost and proactive identity theft protection and defend your and family from cyber threats that cause data breaches and financial losses.
Some of these features include monitoring for:
For more information on the Identity Protection benefit, contact Allstate at +1 800-789-2720.