Basic Life and AD&D

Basic Life Insurance pays your beneficiary a lump sum if you die. AD&D (Accidental Death & Dismemberment) provides another layer of benefits to either you or your beneficiary if you suffer from loss of a limb, speech, sight, or hearing, or if you have a fatal accident. The cost of coverage is paid in full by Five9.

Basic Life insures you for 2x your annual salary, up to a maximum of $1,000,000. Age reductions apply.

Basic AD&D insures you for 2x your annual salary, up to a maximum of $1,000,000.

Imputed Income

Under current tax laws, imputed income is the value of your Basic Life insurance that exceeds $50,000 and is subject to federal income, Social Security and state income taxes, if applicable. This imputed income amount will be included in your paycheck and shown on your W-2 statement.

Please note that any beneficiaries added to the Life benefit will also be automatically applied to the AD&D benefit. In other words, beneficiaries for the Basic Life plan will be applied to the Basic AD&D plan, and the beneficiaries for the Voluntary Life plan will be applied to the Voluntary AD&D plan. To review or add your beneficiaries, please visit the Five9 US Benefits Hub, powered by PlanSource.

Voluntary Life and AD&D

In addition to Basic Life and AD&D, eligible employees may purchase additional Voluntary Life and AD&D insurance at favorable group rates. Participants pay 100% of the premium. Note: It is important to provide beneficiary information during the enrollment process and keep this information up to date. Should you select coverage above the guarantee issue amount, decline coverage or make an election after your initial eligibility period without experiencing a family status change you will need to submit an Evidence of Insurability form with additional information about your health for the insurance company to approve the higher amount of coverage.

For you: Increments of $10,000 up to lesser of 5 times your covered annual earnings or $500,000. Guaranteed issue: $200,000 for employees between 15-64 years of age, $10,000 for those between 65-69. Evidence of insurability is required for those 70 or over.

For your spouse: Increments of $5,000 up to lesser of 50% of employee amount or $250,000. Guaranteed issue: $50,000 for spouses/Domestic Partners between 15-64 years of age, and $5,000 for those 65 and older.

For your children: Increments of $1,000 up the lesser of 10% of employee coverage or $10,000. Guaranteed issue of $10,000.