ADDITIONAL PROTECTION

Life Insurance

Supplement your M&T-provided life and AD&D coverage. You may purchase additional coverage for yourself, your spouse or domestic partner and dependent children.

Invest in peace of mind

M&T offers additional life insurance options for you and your family. Life and accidental death and dismemberment (AD&D) insurance are administered by Unum.

How the plans work

You pay the full cost of coverage for additional life and AD&D insurance. To help you decide, review 2027 premiums when you enroll on Workday. You have the following income protection benefits.

Overview
	Employer-paid Benefits	Optional Benefits
Full-time Employee Life and AD&D	M&T provides enough credits to purchase .5 times your frozen earnings in coverage; you cannot waive this coverage	Purchase additional coverage up to 6 times frozen earnings; combined maximum is $1,000,000 Evidence of Insurability (EOI) required for 3 times frozen earnings or $500,000 (whichever is met first)
Part-time Employee Life and AD&D	Less than 5 years of service: M&T provides credit for $6,000 of coverage 5 or more years of service: M&T provides credit for $10,000 of coverage	Less than 5 years of service: Purchase $4,000 or $9,000 of additional coverage 5 or more years of service: Purchase $5,000 or $10,000 of additional coverage
Spouse/Domestic Partner Life and AD&D	N/A	Full time employees: Elect up to 50% your coverage amount in $10,000 increments; $250,000 maximum. EOI required for coverage above $50,000 Part time, less than 5 years of service: Elect $10,000 of additional coverage Part time, 5 years of service or more: Elect $10,000 or $20,000 of additional coverage
Dependent Life and AD&D All selected dependents are included at no additional cost.	N/A	Elect up to $10,000 of additional coverage in $1,000 increments

Designate a beneficiary

A beneficiary is a person, trust or estate receiving payouts from your life insurance, retirement accounts and other plans upon your death. You can change your beneficiary at any time in Workday.

Note: You must elect at least one primary beneficiary. If you elect spouse or domestic partner or dependent coverage, you are assumed to be the beneficiary. For details, review the Group Life Insurance Policy Description.

Add protection during Open Enrollment

During Open Enrollment, you can add/remove additional life/AD&D coverage for you and/or your family. If you are adding coverage for the first time, you may be required to submit EOI.

Your life/AD&D coverage carries over

No action is required to keep your current life/AD&D coverage. Your elections will carry over at the same coverage level with 2027 premiums. View premiums in Workday.

EOI may be required.

If Evidence of Insurability (EOI) is required, you’ll need to complete the health questionnaire in Workday. A physical examination may be requested by an authorized Unum representative if additional information is needed.

Related Info

Workday

Unum