Protecting What Matters Most
Life, AD&D, and Disability Insurance
Saks Global’s Life and Disability Insurance options provide valuable protection to support your income and your family if the unexpected happens. Whether it’s ensuring financial security for your loved ones or replacing lost income due to illness or injury, these benefits are designed to offer peace of mind when it matters most.
Basic Term Life Insurance
Your benefit equals 1X your base annual earnings, up to a maximum of $1,000,000 or you can opt to have a flat $50,000. This coverage helps protect your loved ones’ financial security in the event of your passing.
Accidental Death and Dismemberment (AD&D)
If you experience a serious injury or lose your life in an accident, AD&D coverage provides an additional benefit equal to your Basic Term Life coverage. This protection extends beyond standard life insurance to give you and your family greater security in the face of the unexpected.
Life and AD&D Insurance
Basic Life and Accidental Death & Dismemberment (AD&D) – Company Sponsored Benefit
Saks Global provides peace of mind by offering Basic Life Insurance and Accidental Death and Dismemberment (AD&D) coverage at no cost to you. Enrollment is automatic—there’s nothing you need to do to receive this important protection.
These benefits are a cornerstone of your financial safety net—helping ensure that you and your family are supported during life’s most difficult moments.
Evidence of Insurability (EOI)
When you enroll, Saks Global’s Enrollment Platform will determine if EOI is required for any of your life insurance elections and notify Reliance of your coverage election. Reliance will send you, by email, instructions on completing any EOI requirements. When you have submitted those requirements to Reliance and Reliance has made their decision on your coverage request, you will receive a notice from Reliance of their decision. If coverage is approved by Reliance, any required payroll deductions will then begin.
Voluntary Life and AD&D
Saks Global offers Voluntary Life and AD&D Insurance to give you and your loved ones an added layer of financial protection, providing peace of mind and security for the unexpected. You can purchase additional coverage for yourself, your spouse, and your children through convenient payroll deductions.
Voluntary Life and AD&D coverage allow you to extend financial security to those who matter most—helping protect your family’s future should the unexpected happen.
Colleagues
- Choose coverage from 1 to 5x your annual base earnings, up to a maximum of $2,000,000.
- Minimum election: $10,000, rounded to the nearest $1,000.
- Guarantee Issue: up to $500,000 without evidence of insurability if elected when first eligible.
Spouses
- Choose $10,000 or increments of $25,000, up to a maximum of $250,000 (not to exceed 100% of the employee amount).
- Guarantee Issue: up to $50,000 when first eligible.
Children
- Choose $5,000 or $10,000 in flat coverage amounts.
Beneficiary Designation
Choosing a beneficiary is an important step in making sure your life insurance benefits are directed
according to your wishes. You will need to designate a beneficiary for both your Basic Life Insurance and any Voluntary Life Insurance you elect.
- If you name more than one beneficiary, be sure to assign a percentage to each person. Your total must equal 100%.
- You can update or change your beneficiary at any time to reflect life changes such as marriage, divorce, or the birth of a child.
Tip: Review your beneficiary designation during each Annual Enrollment period to ensure your elections are current and reflect your intentions. Keeping this information up to date helps provide peace of mind for you and financial security for your loved ones.
