Protecting our loved ones if something happens to us is one of the most important things we can do. Life and AD&D insurance provides financial support to help your family manage expenses during a difficult time.
To support your family’s financial wellbeing, Primo Brands pays the full cost of Basic Life and AD&D Insurance. If you want additional coverage at low rates, you can choose Supplemental Life and AD&D Insurance as a new hire or during Annual Enrollment.
Primo Brands automatically provides Basic Life Insurance at no cost to you.
You can purchase additional Supplemental Life Insurance for yourself, your spouse/domestic partner, and children.
Coverage is provided through Securian Financial.
Basic Life covers 1.5 x your annual base salary.
Basic AD&D covers 1 x your annual base salary, up to $100,000.
You can choose a variety of coverage amounts for Supplemental Life and AD&D Insurance. See Securian Financial’s Why Life Insurance Matters and coverage calculator to determine how much you may need.
Benefits are paid to you if you have a qualifying injury.
Benefits are paid to your beneficiary in the event of death.
Make sure you provide your beneficiary information when you enroll and keep it up to date.
*Federal tax law requires you to pay taxes on the cost of basic life insurance coverage over $50,000. This is called “imputed income” and will be added to your gross taxable income. It will be included on your paychecks and on your Form W-2 each year. The amount of imputed income is based on your age and coverage amount.
Basic, company-provided life and AD&D coverage is fully paid for by Primo Brands. You pay the full cost for supplemental life and AD&D coverage through after-tax payroll contributions. You can see your specific rates when you enroll.
When you enroll in your benefits, you’ll be prompted to choose or update your beneficiary information too. Make sure you keep this information up-to-date, so any benefits are paid out according to your wishes.
