BNY Mellon Benefits Guide
Coverage Amounts
If one times your annual base pay results in a number that is not a multiple of $1,000, your coverage will be rounded up to the next higher $1,000. For example, if your annual base pay is $27,750 and you have life insurance coverage of one times your base pay, your coverage amount would be $28,000.
- Would your family have other sources of income if you were unable to work?
- What predictable costs (such as college tuition or mortgage payments) would you like to see taken care of if something happened to you?
- Do you have a private source of insurance in addition to BNY Mellon coverage?
- Do you have enough protection for your family?
- Does your spouse/domestic partner earn a steady income? If so, you may not need as much insurance coverage as you would if you were the sole wage earner.