Life Insurance
CF Industries offers life insurance coverage designed to provide financial protection for you and your loved ones. CF Industries provides Basic Life, Accidental Death and Dismemberment (AD&D) and Business Travel Accident coverage at no cost to you. You also have the option to purchase Voluntary Life Insurance for yourself and dependents for additional protection.
Life insurance takes effect on your first day of employment. The life insurance options listed below work together to provide coverage for you and your eligible dependents.
Basic Life, AD&D and Business Travel Accident Insurance
CF Industries automatically provides you with this coverage which takes effect on your first day of employment. The Basic Life and AD&D coverage is equal to one time your annual base salary (rounded up to the next $1,000). The Company also provides Business Travel Accident Insurance coverage equal to two times your base salary if you die or are seriously injured while traveling for work.
Coverage amounts for Business Travel Accident Insurance are subject to age reduction. A covered person’s total sum will be reduced to the percentage shown in the chart to the right, which goes into effect on the date prior to the first reduction shown.
Voluntary Life Insurance
You have the option to purchase additional life insurance for yourself and dependents:
| Benefit Amount | Maximum | Guaranteed Issue Amount | |
|---|---|---|---|
| Employee* | One to five times annual base salary (rounded to nearest $1,000) | $1 million | Lesser of four times salary or $400,000 |
| Spouse | Units of $10,000 | $500,000 | $50,000 |
| Child(ren)** | Units of $5,000 | $20,000/$500 if under six months of age | All amounts |
*Coverage amount is reduced by 35% once employee reaches age 65. This applies only to employee coverages (i.e. basic life, AD&D, Voluntary Life and Voluntary AD&D).
**Child(ren) must be under age 26 to be eligible for coverage.
Voluntary AD&D Insurance
You may also purchase Voluntary AD&D Insurance for yourself and dependents to provide you additional coverage. Evidence of Insurability is not required for Voluntary AD&D:
| Benefit Amount | Maximum | |
|---|---|---|
| Employee | Units of $50,000 | Units of $50,000 to a maximum of $500,000, however, benefit amounts in excess of $300,000 are limited to 10 times the employee’s compensation. |
| Spouse* | Units of $50,000 | $500,000 |
| Child(ren)* | Units of $5,000 | $20,000 |
Age Reductions
| Age |
|
|---|---|
| 65 but less than 70 |
|
| 70 but less than 75 |
|
| 75 but less than 80 |
|
| 80 or over |