Belong

Overview

To help protect the financial wellbeing of your loved ones, Nutanix provides basic life insurance and accidental death and dismemberment (AD&D) insurance—at no cost to you. You also have the opportunity to purchase additional coverage for yourself, your spouse or domestic partner, and your children.

Basic Life and AD&D Insurance | Voluntary Life and AD&D Insurance

Is your beneficiary current?

It's important to designate a beneficiary to receive the benefit paid by a life insurance policy. As personal circumstances change, be sure to keep this information up to date. Get instructions on how to add or update your beneficiaries in Workday here.

Basic Life and AD&D Insurance

Nutanix provides coverage at no cost to you. Life insurance pays your beneficiary a set amount if you pass away. AD&D insurance pays a benefit if you die in an accident or if you’re dismembered in an accident (you lose sight, hearing, speech, or use of a limb). AD&D benefits are paid as a percentage of your coverage amount—from 50% to 100%—depending on the type of loss.

Coverage for both Basic Life Insurance and Basic AD&D Insurance is automatic—you don’t need to enroll.

Plan Coverage
Basic Life Insurance 3 times your annual base pay, up to $1 million
Basic AD&D Insurance 3 times your annual base pay, up to $1 million

Imputed Income

Due to IRS tax regulations, if your company-paid life insurance coverage is over $50,000, the portion that’s above $50,000 is added to your taxable income. This money is known as “imputed income” and is subject to federal and state income and payroll taxes.

On your paycheck, you’ll see the value of the premium added to your pay, and then subtracted, in order to pay taxes on the benefit. Additionally, the imputed income will be shown as taxable wages on your W-2.

Voluntary Life and AD&D Insurance

Purchasing additional financial protection above the basic coverage provided by Nutanix can protect you even further. You can elect Voluntary Life and/or AD&D insurance for you and your family members through Prudential, where the cost is paid by you through payroll deductions.

Note: If you want to purchase Voluntary AD&D coverage for you or a family member, you must also purchase Voluntary Life for the same individual.

Voluntary Employee Life and/or AD&D Voluntary Spouse Life and/or AD&D Voluntary Child Life and/or AD&D
Coverage amounts $10,000 increments, up to $1 million or 6 times your annual base pay (whichever is less) $5,000 increments, up to $500,000 or 100% of the employee's Basic and Voluntary Life amounts combined (whichever is less) $2,000 increments, up to $20,000 or 100% of the employee's Basic and Voluntary Life amounts combined (whichever is less)
Guarantee issue amounts for new hires (amounts that are automatically approved) Voluntary Life: $500,000
Voluntary AD&D: Doesn’t apply		 Voluntary Life: $100,000
Voluntary AD&D: Doesn’t apply		 Voluntary Life: Not required
Voluntary AD&D: Doesn’t apply
Enrollment To enroll in AD&D, you must also enroll in Employee Voluntary Life To enroll in Spouse AD&D, you must also enroll in Spouse Voluntary Life To enroll in Child AD&D, you must also enroll in Child Voluntary Life

 

Evidence of insurability*

If you elect Voluntary Life Insurance when you’re first eligible, you only need to provide Evidence of Insurability (EOI) for coverage amounts above the guaranteed issue amounts.

New enrollments or increases to coverage after your new hire election will require EOI.

Coverage above the guaranteed issue amounts won’t be effective until the insurance company approves it in writing. After approval is received by Nutanix, your premiums will be adjusted and reflected in your paycheck.

*Doesn’t apply to voluntary AD&D coverage.