Life Insurance

If your loved ones count on you for support, life insurance can offer a financial safety net in case of your death. Cargill provides basic life insurance at no cost to you. You also may purchase additional coverage for yourself, your spouse and dependent children, as described below. Cargill’s life insurance plans are administered by Prudential.

How much life insurance do you need? Most people want enough life insurance to ensure their family can maintain their current lifestyle.

Don’t forget to designate your beneficiaries. A beneficiary is someone who will receive your life insurance benefits if you die. Your beneficiary designation applies to any Basic, Additional Life, Voluntary AD&D and Business Travel Accident (if applicable) elections you have on file. This means you should have a beneficiary on file for your company-paid Basic life insurance, even if you don’t purchase additional Life or other coverage.

If you do not name a beneficiary or your designated beneficiary dies before you, the benefit will be paid in one sum to the first survivor of the following:

Spouse/Domestic Partner;
Child(ren) (in equal shares);
Parents (in equal shares);
Sisters and brothers (in equal shares); or
Estate.

You are automatically the beneficiary of any Additional Spouse and Dependent Child coverage you elect.

Life insurance for you

You are automatically enrolled in the Basic Life insurance plan equal to two times your salary at no cost to you.
In addition to Basic Life, you have the option to purchase Employee Additional Life insurance for yourself equal to one to five times your salary.
Evidence of Insurability (EOI) or “good health” is not required to enroll or increase your coverage when you are a new hire or during a life event. You may increase your coverage one level during annual enrollment.
Any changes you make will only take effect if you are actively at work and/or if your dependents are not confined for medical care or treatment on the day coverage is effective.

Life insurance for your spouse/domestic partner

You can select up to $250,000 of Spouse Additional Life coverage in $25,000 increments.
You can enroll in or increase your coverage by one $25,000 increment during Open Enrollment.

Life insurance for your dependent children

Your eligible dependents are automatically enrolled in Dependent Life Insurance equal to $2,000 for each dependent
You can elect additional coverage up to $10,000 per dependent in $2,000 increments