Life & Accident Insurance

It's not easy thinking about accidents and death, but if they happen, Publicis provides benefits to protect your financial resources. We offer Basic Life Insurance at no cost to you, and you can choose to supplement that coverage with additional insurance coverage through Prudential. Below is a snapshot of the life and AD&D coverage, and you can find the full coverage listed in the Life & AD&D Summary Plan Description.

Prudential

1-800-524-0542

Group number: CG-73011.

Tips for choosing a life and/or AD&D insurance plan:

• Determine the optimal amount of protection for yourself and your family.

• If you die or become permanently disabled, what other sources of income would be available for your family?

• What are your family's living expenses, and how are those likely to increase or decrease over time?

• Compare the different options available to you and determine which plan or plans provide the protection you and your family need.

• Basic Life Insurance

  We offer two basic life insurance coverage options at no cost to you:

  Option	Coverage Amount	Notes
  Option 1	One-and-a-half times your base pay,* rounded to the next higher $1,000 to a maximum of $750,000	*Base pay is your annualized base wage excluding bonuses, commissions, shift differentials, overtime, or any other additional compensation.
  Option 2	Flat dollar coverage of $50,000 for employees who wish to avoid paying imputed income tax.	This option is only available to employees earning more than $33,333.34 per year.

  *NOTE: The IRS requires your employer to include the cost of life insurance coverage over $50,000 in your gross income each year. Option 2 (flat $50,000 coverage) lets you avoid this imputed income tax.

  Evidence of Insurability—a written, notarized acknowledgement that you meet the insurer's conditions for coverage—is not required for your Basic Life Insurance election.

• Supplemental Life Insurance

  You may choose to purchase supplemental life insurance coverage for you, your spouse/domestic partner, or eligible dependents.

  Who's eligible:

  Covered Person	Coverage Choices	Maximum Coverage
  Employees	1 to 8 times your base annual earnings up to a maximum of the lesser of 8 times base annual earnings (post-tax) or $2,000,000	Coverage will reduce at ages 65-69 by 65% and ages 70+ by 50%.
  Spouse / Domestic Partner	$50,000 flat; OR 1 to 5 times employee's base annual earnings	Maximum: $300,000; not to exceed 100% of employee's total life benefit
  Eligible Dependent Children	$5,000, $10,000, or $25,000 per child	Child must be unmarried and under age 21 (or full-time student under 25); must be tax-claimed and live in employee's home

  A few things to note about supplemental life insurance:

  • Your base pay is rounded up to the next $1,000 when calculating your coverage.

  • Supplemental Life Insurance coverage tops out at $2 million. Combined with Basic Life Insurance, your total coverage can't exceed $2.75 million.

  • You'll need evidence of insurability (EOI) in some cases: 

    • As a new hire, you don't need EOI for coverage up to the lesser of three times your base pay or $750,000.

    • You need EOI to enroll in coverage above one times your base pay.

    • During Open Enrollment, you need EOI if you're not already enrolled in Supplemental Life Insurance.

  Dual coverage restrictions

  If you and your spouse both participate in Publicis benefits, two restrictions apply to dependent life coverage:

  • An employee who works at Publicis isn't eligible for coverage as a dependent spouse.

  • A child is only eligible for coverage under one employee's plan.

• AD&D Insurance

  Accidental Death & Dismemberment (AD&D) insurance pays benefits in the event of an accidental death or serious injury. AD&D is available for employees and their eligible dependents.

  Covered Person	Coverage Choices
  Employees	1 to 8 times your base annual earnings up to $2,000,000
  Spouse / Domestic Partner Only	60% of employee's coverage amount (max $500,000)
  Spouse + Children (spouse portion)	50% of employee's coverage amount (max $500,000)
  Children Only	15% of employee's coverage amount (max $50,000)

  At age 65, your Optional AD&D coverage reduces to 65% of the coverage amount, and at age 70, it reduces to 50% of the coverage amount.

• Accelerated Death Benefit

  Terminally ill employees and eligible dependents medically confirmed to have less than 12 months to live can receive an advance payment of up to 100% of their life insurance benefit, generally income tax-free. Contact Prudential at 1-800-524-0542 for details.

• Coverage Continuation

  Your basic, supplemental, spouse, and child life coverage is portable.

  Continuing your coverage:

  • Basic, Supplemental, Spouse, and Child Life coverage can continue for one year, with no coverage or age maximums.

  • Contact Prudential and elect "Continuation" within 30 days of your termination date.

  • After one year, you can "port" your coverage or convert it to an individual policy without proof of insurability. To convert, complete a request form and pay the required premium.

  Portable coverage limits:

  • Employee coverage: portable up to $500,000 ($325,000 if you're 65 or older).

  • Spouse coverage: portable up to $150,000 through age 64 ($97,500 if you're 65 or older).

  • Child coverage: portable up to age 21, or age 25 if your child is a full-time student.

  • Coverage exceeding these limits can be converted to an individual policy.

  Coverage Conversion: Basic, Supplemental, Spouse and Child Life Group Term Life Insurance can continue for one year. No coverage or age maximums apply.

  In order to continue your Group Term Life Insurance coverage, you will need to contact Prudential and elect “Continuation” within 30 days of your termination date.

  When your continued coverage terminates after one year, you have the option to either “port” your group term life insurance or “convert” your Group Term Life Insurance to an individual policy.

  Contact Prudential at 1-800-524-0542 for details.