When it comes to life and accidental death & dismemberment (AD&D), we provide financial protection for you and your family. We cover the cost of your basic coverage. You can enhance these benefits for yourself and your loved ones with supplemental buy-up options that make a big difference if something unfortunate occurs.
| Basic | Supplemental | |
|---|---|---|
| How to enroll | It’s automatic—you don’t have to do anything to get this benefit. | You need to elect this during open enrollment or a qualified life event. |
| Who pays | NVIDIA pays for basic coverage for you and your family at 100%. | You pay a premium for the supplemental upgrade. |
| For you | 2.5 times your annual total target compensation, up to $2.5 million | 1 to 8 times your annual total target compensation, up to $1 million |
| For your spouse or domestic partner | $25,000 in coverage (pay imputed income on amounts over $2,000)<br/> or<br/> $2,000 in coverage (no imputed income) | $10,000 increments, up to $500,000, not to exceed employee basic life insurance amount |
| For your child(ren) | $5,000 in coverage (pay imputed income on amounts over $2,000)<br/> or<br/> $2,000 in coverage (no imputed income) | $2,500 increments, up to $20,000 |
| Basic | Supplemental | |
|---|---|---|
| How to enroll | It’s automatic—you don’t have to do anything to get this benefit. | You need to elect this during open enrollment or a qualified life event. |
| Who pays | NVIDIA’s got you covered at 100%. | You pay a premium for the supplemental upgrade. |
| For you | 2.5 times your annual total target compensation, up to $2.5 million | 1 to 8 times your annual total target compensation, up to $1 million |
| For your spouse or domestic partner | No basic coverage provided. | $10,000 increments, up to $500,000, not to exceed employee supplemental AD&D insurance amount |
| For your child(ren) | No basic coverage provided. | $2,500 increments, up to $20,000 |
If your basic life insurance coverage exceeds $50,000, as well as basic spouse/domestic partner life coverage exceeds $2,000 and basic child life coverage exceeds $2,000, then imputed income will apply on your paychecks. Here’s more information on imputed income. As a new hire, you are automatically enrolled and approved at the 2.5x salary for basic life insurance. If you chose to reduce the group term life (GTL) insurance benefit to $50,000 to avoid the imputed income, and later wish to increase it, you will be required to complete proof of good health, also known as evidence of insurability (EOI) for the life insurance company to approve or deny the increase in coverage.
Per the Internal Revenue Service, the cost of company-provided life insurance over these limits is treated as taxable income. Additional information on the calculation of the imputed income can be found on the IRS Group-term life insurance website.
Proof of good health, also known as evidence of insurability (EOI), is used to qualify for certain amounts of life insurance coverage.
Life and AD&D coverage reductions apply starting at age 70.
Basic life and accidental death & dismemberment insurance are fully paid for by NVIDIA.
Costs for all other insurance options are based upon age and the amount selected. Costs are available on the U.S. Benefits Enrollment Site. You must be connected to the NVIDIA network to access this link.
You’re automatically enrolled in basic life, accidental death & dismemberment, basic spouse/domestic partner life, and basic child life insurance.
You can enroll in supplemental insurance plans through the U.S. Benefits Enrollment Site at any time. Evidence of insurability may apply; if required, Prudential, the plan administrator, will send you a form to fill out.