Merck offers different types — and levels — of life insurance protection for you and your family, including basic life, optional life, accidental death and dismemberment (AD&D), dependent life and business travel accident insurance.
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Type of insurance |
Cost |
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Basic life |
Merck pays the full cost equal to 1x base pay. Note: You will be required to include the value of basic life insurance coverage in excess of $50,000 as taxable income. |
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All other options
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Certain life insurance rates are based on your age and salary as well as your smoker/non-smoker status. Your rate is unique to your age and coverage amount, which will be available when you enroll. |
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To estimate your contributions for optional life and AD&D insurance, and to see how your contributions may change during the year due to any anticipated changes in your base pay or your age, go to NetBenefits.
About smoker rates
Your rates for optional life insurance coverage will depend on whether you elect smoker or non-smoker rates. If you previously elected smoker or non-smoker rates and you do not make an affirmative election during annual enrollment, your current smoker/non-smoker status will continue to apply.
To elect non-smoker rates, you must qualify as a non-smoker by being smoke and tobacco free (cigarettes, e-cigarettes, cigars, pipes, chewing tobacco, etc.) for 12 full consecutive months prior to the date you enroll for coverage.
If you cannot qualify for non-smoker rates, as described above, you must elect smoker rates. If you fail to elect smoker rates and if it is later determined that you do not qualify as a non-smoker, you will be considered to have provided false enrollment information. Any benefits that might eventually be paid to the beneficiary(ies) for your life insurance could be affected.
The following is a high-level summary of the benefits offered under the Merck life insurance plan. For details about Merck life insurance, including any exclusions and limitations that may apply, click here to access the plan documents.
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Type of insurance |
Considerations and coverage options |
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Basic life |
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Optional life |
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Accidental death and dismemberment (AD&D) |
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Dependent life |
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Business travel accident |
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Mid-year changes permitted
You can change your employee-paid life insurance coverages during the year by contacting the Benefits Service Center at 800-66-MERCK (800-666-3725). However, increases in those coverages are effective only if you satisfy the plan’s EOI and active-at-work requirements.
Beneficiary designations
To review or update your beneficiaries, click here. If you have questions, call a Customer Service Representative at 800-66-MERCK (800-666-3725). If you pass away and do not have a valid beneficiary designation on file, life insurance benefits will be paid based on the following hierarchy:
Find out how much insurance you need
Take advantage of Fidelity financial planning consultants, available at no cost to you, by calling 800-603-4015.
Generally, your annual base pay, excluding commissions, overtime, bonuses and any special or supplemental pay, adjusted to reflect scheduled hours, if part-time. For union employees with cost-of-living adjustments (COLA), base pay includes COLA.
The IRS requires you to be taxed on the value of employer-provided group term life insurance over $50,000. The taxable value of your Basic Life Insurance coverage is called “imputed income.” Even though you don’t receive cash, you are taxed as if you received cash in an amount equal to the value of this coverage.
If you elect to participate in the Optional Life Insurance Plan or would like to increase your coverage amount, EOI questions can be answered online — and you can get an immediate response from Prudential right in the same enrollment session.
