Life and AD&D insurance
Western Union provides Basic Life and AD&D insurance at no cost to you. If you are actively working, you are automatically enrolled in this coverage.
Basic Life and AD&D insurance
Your coverage includes:
- Basic Life insurance: Your annual benefits salary amount, to a maximum of $1,000,000
- Basic AD&D insurance: Your annual benefits salary amount, to a maximum of $1,000,000
Premiums paid by Western Union 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.
If you want more coverage, you have the option of electing voluntary life insurance coverage for you and your eligible dependents.
Voluntary Life and AD&D insurance
You have the option of electing Voluntary Life and AD&D insurance coverage for you and your eligible dependents. You can choose coverage of one to five times your annual salary, up to $1,000,000.
For any Voluntary Life insurance coverage that you elect, you pay the full premium amounts.
Have you named a beneficiary?
This is important because if you die, your beneficiaries will receive your insurance benefit payments. Be sure to name (or change) your life and AD&D insurance beneficiaries while enrolling on the Mercer site. You can access your Mercer account by going to Okta and clicking on the Mercer tile.