Basic Term Life Insurance
- 2x base salary + actual bonus/commissions
- Maximum $500,000
- No additional cost
Basic Dependent Term Life Insurance
- $5,000 for spouse
- $2,500 for child
- No additional cost to employee
Accidental Death and Dismemberment Insurance
This insurance pays two types of benefits: an accidental death benefit and an accidental dismemberment benefit. If you die in an accident, an accidental death benefit is payable to your beneficiary, in addition to the life insurance benefit. This provides an extra layer of protection to ease the financial hardships that can result from an accidental death. If you lose a limb or eyesight in an accident, the accidental death and dismemberment plan pays an accidental loss or dismemberment benefit in varying amounts, depending on the nature of the injury.
- 2x base salary + actual bonus/commissions
- Maximum $500,000
Business Travel Accidental Death and Dismemberment Insurance
If you die in an accident while traveling on company business, you are automatically insured under the business travel accidental death and dismemberment plan. If you lose a limb or eyesight while on company business, you are covered for an accidental loss or dismemberment benefit in varying amounts, depending on the nature of the injury. This benefit is payable in addition to any other benefits that may be payable under the basic group life insurance plans.
- 2x base salary + actual bonus/commissions
- Maximum $500,000
Supplemental Employee Life Insurance
As an SAP employee, you can purchase additional life insurance in $50,000 increments. Newly hired employees can purchase up to $500,000 additional coverage without providing evidence of insurability. If you are an existing employee or you want to purchase more than $500,000 additional coverage, you must complete an evidence-of-insurability form and send it to the insurance company for approval.
After-tax payroll deductions are based on age and amount of coverage elected.
Supplemental Dependent Life Insurance
If enrolled in the Supplemental Life Insurance Program, employees may also purchase:
- $50,000 - $250,000 additional life insurance coverage for spouse
- $10,000 additional life insurance coverage for other eligible dependents