Life Insurance


Your Life Insurance Options	The Corporation automatically provides free basic life insurance coverage equal to one times your total annual compensation, up to $100,000. If your annual compensation is more than $50,000, you have the option to limit your basic life insurance coverage to $50,000 to avoid taxes on the value of coverage above $50,000, which IRS rules consider to be "imputed income." You may purchase Supplemental coverage, as follows: Choose coverage for yourself of up to eight times your annual compensation, rounded to the next higher $500, up to a maximum of $2.5 million. Choose coverage for your spouse up to $100,000 in $10,000 multiples. Choose coverage for your eligible dependent children equal to $5,000 or $10,000 for each child.
Eligibility	You are eligible for life insurance coverage if: you are employed by a business unit that participates in the applicable plan, you are an active full-time or part-time employee, you are regularly scheduled to work at least 20 hours per week, and you are employed in the United States, or you are a U.S. employee temporarily working abroad. Your spouse and eligible dependent children also are eligible for life insurance coverage if they meet the requirements defined in the Summary Plan Description. Your spouse must be your legal spouse according to the laws where you live. Children must be at least 14 days old and younger than age 23 Domestic partners, their children, and other adult family members are not eligible for life insurance coverage.
Enrolling	If you are eligible, basic life insurance coverage is automatic, and begins on the first day you are eligible. There is no need to enroll and no evidence of insurability is required, but you do need to name a beneficiary. You may enroll for supplementary life insurance as of the first day you are eligible. If you enroll for coverage of less than $250,000, coverage begins the first day you are eligible, provided you are actively at work on that day and you enroll within 31 days of the date you became eligible. Otherwise, coverage begins when the insurance company approves your application, provided you are actively at work on that day. If you are eligible, you may enroll your spouse and eligible dependent children, respectively, for spousal and children's life insurance coverage at any time. Coverage begins when the insurance company approves your application. You can begin the enrollment process via Employee Self-Service on The McGraw-Hill Companies Intranet.
Evidence of Insurability	You can enroll for supplementary life insurance without providing evidence of insurability if: you enroll within 31 days of becoming eligible, and you enroll for coverage of less than $250,000. If you do not meet both of the requirements above, you must always provide evidence of insurability to elect supplementary life insurance. Evidence of insurability is required for all spousal life insurance coverage. You can enroll your eligible children for life insurance coverage without providing evidence of insurability if you enroll within 31 days of becoming eligible or during an annual enrollment period.
Paying for Coverage	The Corporation pays the full cost of your basic life insurance. You pay for any supplementary, spousal, and children's life insurance through after-tax payroll deductions.
How Benefits Are Paid	Life insurance benefits are paid to the beneficiary on record in one lump sum.
Filing a Claim	To file a claim, notify the Human Resources Service Center (HRSC) at 1-888-THE-HRSC (1-888-843-4772). A representative will explain the benefits that are provided and what is needed to process the claim.