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Life Insurance
Life and accidental death and dismemberment (AD&D) insurance provide financial protection for you and your family. You are generally eligible to participate if you are an active employee scheduled to work at least 30 hours per week. These benefits are administered by Prudential.
If you do not elect coverage within the first 31 days of hire, your next opportunity to enroll will be during Open Enrollment or if you have a link to life events during the year.
Employee life insurance
Cision provides an employee basic life insurance benefit at no cost to you. Your basic life insurance benefit gives your beneficiary two time your salary, up to a maximum of $400,000.
You can purchase supplemental life insurance for yourself in $10,000 increments, up to $1,000,000. During Open Enrollment and eligible life events, you may elect an increase of up to $10,000 with no evidence of insurability (EOI). For new hires, Evidence of Insurability (EOI) is required at levels above $200,000.
For additional information, visit the IRS website and read about Group-Term Life Insurance.
Spouse life insurance
You may purchase life insurance for your spouse or domestic partner in $5,000 increments, up to $500,000. For new hires, Evidence of Insurability (EOI) is required at levels above $50,000. Evidence of insurability is sometimes called “proof of good health” and is used to qualify for certain amounts of life insurance coverage.
During Open Enrollment and eligible life events, your spouse will need to complete EOI for increases greater than $5,000.
The combined coverage for child life and spouse/partner life cannot exceed the amount you choose for yourself and is capped at 50% of your election.
Child life insurance
You may purchase life insurance for your children over 6 months up to age 26 in $2,000 increments, up to $10,000.
The combined coverage for child life and spouse/partner life cannot exceed the amount you choose for yourself.
If your spouse is also a Cision employee, only one of you may cover your child(ren). You cannot cover your child who is a Cision employee.
The maximum benefit payable for a child under the age of 6 months is $1,000.
Supplemental Life Insurance
| Benefit | |
|---|---|
| Supplemental Life Maximum (Employee) Supplemental AD&D Maximum (Employee) | Increments of $10,000 up to $1,000,000 |
| Supplemental Life Maximum (Spouse) Supplemental AD&D Maximum (Spouse) | Maximum benefit is the lesser of $500,000 or 50% of the employee's optional life amount |
| Supplemental Life Maximum (Child) Supplemental AD&D Maximum (Child) | Live birth to 6 months, benefit is $1,000; 6 months to 26 years, maximum benefit is $10,000 |
Employee Contributions
The rates shown in the following tables are the per-pay-period post-tax costs for life and accidental death and dismemberment (AD&D) insurance. The rates are per thousand dollars of coverage.
| Age Range | Employee/Spouse Supplemental Life Semi-Monthly Rates (per $1,000) |
|---|---|
| 0-19 | $0.030 |
| 20-24 | $0.030 |
| 25-29 | $0.030 |
| 30-34 | $0.040 |
| 35-39 | $0.045 |
| 40-44 | $0.050 |
| 45-49 | $0.079 |
| 50-54 | $0.148 |
| 55-59 | $0.276 |
| 60-64 | $0.512 |
| 65-69 | $0.738 |
| 70-74 | $1.446 |
| Child Supplemental Life Semi-Monthly Rates (per $1,000) | |
|---|---|
| Child | $0.490 |
| Supplemental AD&D Semi-Monthly Rates (per $1,000) | |
|---|---|
| Employee | $0.0080 |
| Spouse | $0.0085 |
| Child | $0.0085 |