Basic Life & Disability Insurance
BankUnited is pleased to provide all eligible employees with Basic Life and AD&D Insurance, Short Term, and Long Term Disability Insurance through Prudential at no cost to you. Below is a description of each of these benefit policies in which you are automatically enrolled and begin as of the 1st of the month following 30 days from your hire date.
|Basic Life and AD&D
|Basic Employee Life Insurance
|1 x annual salary rounded up to nearest $1,000 to the max of $400,000*
|Same as Basic Life
|Age Reduction Schedule
|Reduces by 35% at age 65, and then by 50% at age 70
|90% benefit up to $500,000. Terminal illness with less than 12 months
|Convert without evidence of insurability
|*Coverage reduced to $50,000 for Executive Split-Dollar Life plan participants
|Short Term Disability
|8th day due to Sickness or Accident
|Percentage of Income Replaced
|60% of your weekly pre-disability earnings
|*Weekly Maximum Benefit
|Up to $2,500
|*Special provisions apply to commissioned employees.
|Long Term Disability
|Up to 66 2/3% of your monthly pre-disability earnings, up to max of $20k
|ADEA | (Age 65)
|Definition of Disability
|You are limited from performing the occupational trade or profession you were employed in prior to your disability.
|6/12 | A pre-existing condition is one which an individual has seen a medical practitioner or taken medication in the 6 months prior to coverage effective date. No benefits will be covered for the first 12 months of the policy effective date.
- Life and Disability Coverage Highlights – Learn the highlights for each of the Prudential policy types.
- Prudential How Life Insurance Helps– Learn how life insurance can help you and your family.
- Life Insurance SPD – A Summary Plan Description provides a deeper dive into all covered and excluded benefits as required by law.