Veradigm provides basic life coverage at no cost to you:

• Benefit amount: 2 x your annual salary, rounded to the next higher $1,000, up to $1,000,000.
  Evidence of Insurability (EOI): EOI may be required for reinstatements if required under the terms of the Certificate of Insurance.
• Imputed income: Premiums paid by Veradigm for basic life insurance coverage amounts over $50,000 are considered non-monetary compensation, or “imputed income,” and per IRS guidelines, must be included as taxable income to you since imputed income is the value of a benefit you are receiving. The IRS establishes the cost per month for each additional $1,000 of coverage (above $50,000) based on age.
• Coverage begins: If you are actively working, you are automatically enrolled in this coverage. If you are not actively at work on your hire or eligibility date, your coverage will become effective on the day you are actively at work

Your basic life insurance amount is based on your age and eligible earnings as of January 1 of the plan year (or as of your new hire/benefit eligibility date, if applicable). Your coverage will stay the same through December 31 of the plan year. Your eligible earnings include base pay and commissions paid in the preceding 12-month period.

You also have the option of electing voluntary life insurance coverage for you and your eligible dependents. For any voluntary life insurance coverage that you elect, you pay the full premium amounts.

• Benefit amount: You can choose coverage of up to 5 x your annual salary, rounded to next higher $1,000, up to $1,000,000.
• Evidence of Insurability (EOI): EOI is required for any coverage amount greater than $500,000; other situations such as elective increases or late application requires EOI to become insured for any amount. Review the Certificate of Insurance for more information.

Voluntary insurance coverage is based on your age and eligible earnings as of January 1 of the plan year (or as of your new hire/benefit eligibility date, if applicable). Your coverage and deductions will stay the same through December 31 of the plan year. Your eligible earnings include base pay and commissions paid in the preceding 12-month period.

Voluntary spouse or domestic partner life insurance

• Benefit amount: From $25,000 up to $250,000 in increments of $25,000.
• Evidence of Insurability (EOI): Necessary for amounts greater than $100,000 during initial enrollment. Required to become insured for any amount if electing coverage outside of your newly eligible period, and for elective increases.

Voluntary child(ren) life insurance

• Benefit amount (2 options):
  • $10,000 per child
  • $25,000 per child
• Evidence of Insurability (EOI): No EOI necessary.

Important to know about voluntary life insurance

• If you are a new hire or newly eligible for benefits, you can elect up to $500,000 in voluntary life insurance on yourself and up to $100,000 in voluntary life insurance on your spouse within your new hire enrollment window without having to provide EOI to New York Life.
• Some qualifying life events allow you to increase your voluntary life insurance by one multiple of your salary without having to provide EOI (up to certain amounts).
• Your coverage elections subject to evidence of insurability will not become effective prior to the date New York Life approves the EOI.

Your cost for voluntary insurance is based on the coverage amount you choose and your age and eligible earnings as of January 1 of the plan year (or as of your new hire/benefit eligibility date, if applicable). Your coverage and deductions will stay the same through December 31 of the plan year.

See Voluntary life insurance rates for details.