Schneider Electric is increasing the amount of Company-provided Basic Life and AD&D Insurance to 2 times your base pay (up from 1 times), and the maximum benefit is $1.5 million (up from $1 million).* The Basic and Supplemental Life combined limit is $3.5 million. Any amount over $3 million will be subject to evidence of insurability (EOI). As a reminder, any increases to current Supplemental Life Insurance also require EOI.
* Depending on your coverage level, you may be required to pay taxes (imputed income). See Your 2022 Benefits Guide for more information.