Page 10 - 2019 Hess Benefits Decision Guide

Security
We know life is full of surprises, and we want to help you be prepared when things don’t go according to plan. That’s why Hess provides Basic Life Insurance, Basic Long-Term Disability Insurance and Business Travel Accident Insurance at no cost to you. Think you may need more coverage? Hess offers additional coverage at reasonable rates.
What Hess Provides
Long-Term Disability Insurance
Beginning January 1, 2019, Hess provides LTD coverage at no cost to you that replaces 60 percent of your base pay up to a maximum benefit payment of $12,000 per month. So, if your base pay is $240,000 or less, you’ll have coverage that replaces 60% of your base salary up to $12,000 per month. However, if your base pay is over $240,000, your monthly LTD benefit will be capped at $12,000.
This coverage is free and there’s no enrollment. To ensure tax-free payments if you become disabled, the company’s cost to provide LTD coverage is considered imputed income to you by the IRS.
Basic Life Insurance
You automatically receive Basic Life coverage equal to two times your annual base pay (rounded up to the nearest $1,000 to a maximum of $1.5 million) at no cost to you. This coverage is free and there’s no enrollment.
Business Travel Accident Insurance
Hess provides Business Travel Accident coverage equal to five times your annual base pay, with a minimum benefit of $100,000 and a maximum benefit of $2.5 million. This coverage is free and there’s no enrollment.
* Evidence of insurability, also known as proof of good health, is an insurance term that means you must confirm your
or your dependent’s physical fitness in writing through a questionnaire or medical examination.
SECURITY—HOW TO ENROLL
Unlike the medical and dental plans, you can add Optional Life, Dependent Life and Family Accident Insurance at any time throughout the year.
Visit the Hess Benefits Center at empyrean.hess.com to view all of your insurance options and costs, as well as to enroll. The cost of optional coverage is based on your annual base pay.
Please Note: You will need to provide evidence of insurability* for Optional Life Insurance when you:
n Enroll in Optional Life Insurance for the first time, n Increase coverage by more than one times your
base pay during Open Enrollment,
n Enroll at four times your annual base pay.
8 SECURITY