Pay and Save, inc. DBA Lowe’s is proud to offer it's team members Life and AD&D Insurance through Blue Cross Blue Shield of Texas
Life and Accidental Death and Dismemberment (AD&D) insurance are important parts of your financial security, especially if others depend on you for support. With Life insurance, your beneficiary(ies) can use the coverage to pay off your debts, such as credit cards, mortgages and other final expenses. AD&D coverage provides specified benefits for a covered accidental bodily injury that causes dismemberment (e.g., the loss of a hand, foot or eye). In the event that death occurs from an accident, 100% of the AD&D benefit would be payable to your beneficiary(ies).
BASIC LIFE AND AD&D INSURANCE
Basic Life and AD&D insurance are provided by Pay and Save, Inc. at no cost to you through BCBSTX. You are automatically covered for $10,000.
VOLUNTARY LIFE AND AD&D INSURANCE
You may purchase additional Life and AD&D insurance for you and your eligible dependents. If you decline Voluntary Life and AD&D insurance when first eligible or if you elect coverage and wish to increase your benefit amount at a later date, Evidence of Insurability (EOI) — proof of good health — may be required before coverage is approved.
You must elect Voluntary Life and AD&D insurance for yourself in order to elect coverage for your spouse or children. Coverage is provided through BCBSTX. If you leave Pay and Save, Inc., you may be able to take the insurance with you.
DESIGNATING A BENEFICIARY
A beneficiary is the person or entity you designate to receive the death benefits of your Life and AD&D insurance policies. You can name more than one beneficiary and you can change beneficiaries at any time. If you name more than one beneficiary, you must identify the share for each.