Life Insurance—2018

Thinking about the worst is hard. Preparing for the worst with Dominion Energy life insurance is easier. We offer life insurance coverage options for you and for your family.

Employee Life Insurance

Dominion Energy automatically provides you basic life insurance coverage equal to your annual base pay (rounded to the next $1,000). You don’t pay anything for this coverage and you don’t have to enroll to receive it.

The value of employer-provided group life insurance coverage that is more than $50,000 is subject to income taxes.

Need more than basic coverage?

You can buy supplemental life insurance coverage for yourself on an after-tax basis.

You can buy coverage amounts of two to 10 times your annual base pay (for a total of 11 times your annual base pay, including the Dominion Energy basic life insurance coverage).

How much more coverage can you get?

The maximum amount of employee life insurance coverage you may have is $1.5 million and the maximum amount of supplemental life insurance you may buy is $2.5 million.

Do you need proof of good health?

Increasing coverage by one level, up to five times your annual base pay, does not require a Statement of Health to be approved by MetLife.

Increasing your coverage by two or more levels or coverage greater than five times your annual base pay requires a Statement of Health.

The maximum amount of coverage available to new employees without a Statement of Health is five times annual base pay.

Additional Features

Your Dominion Energy life insurance also provides you with several important features, such as an accelerated benefit if you suffer a terminal illness and free will preparation. Read on for information that will help you and your beneficiary get the most from your life insurance benefits.

Accelerated Benefits

You can receive up to 80% of your life insurance benefit if you have been diagnosed with a terminal illness with 12 months or less to live.

Your request is subject to an independent medical review and approval by MetLife. Payment is generally made in a lump sum, up to a maximum of $500,000.

You may use the accelerated benefit payment in whatever way you choose; for example, to help pay medical bills, nursing home expenses or living expenses.

Upon your death, your remaining employee life insurance benefit will be paid to your beneficiary(ies).

Will Preparation

If you have elected coverage of two or more times your annual base pay, you and/or your spouse may have a will prepared at no cost. MetLife is offering this service through its company, Hyatt Legal Plans. MetLife will fully cover the cost associated with having your will prepared or updated when you use an attorney in the Hyatt Legal Plans network. When calling Hyatt, you will need to provide the Dominion Energy group number, 6967, and the last four digits of your Social Security number.

For more information, contact Hyatt Legal Plans at 1-800-821-6400.

Naming a Beneficiary

When you first enroll, you must designate a beneficiary via Your Benefits Resources™ (YBR). You can name the same or separate beneficiaries for Basic and Supplemental Life Insurance.

You may also change your beneficiary designation at any time by visiting YBR.

If you die without a valid beneficiary, benefits are paid in the following order:

  • Your spouse
  • Your children (in equal shares)
  • Your parents (in equal shares)
  • Your siblings (in equal shares)
  • Your estate

Want to Know More?