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Life Insurance
Basic Life Insurance
AEP provides Basic Life Insurance for the family in the unfortunate event of an employee passing. In addition, Supplemental Life Insurance is offered for purchase. This additional coverage may be up to eight times the annual base salary of the employee. Refer to the table below for details.
Your AEP-provided Basic Life Insurance level is dependent on your hire date. Employees hired after December 31, 2019 receive coverage equal to one times (1x) annual base salary; employees hired prior to that date receive coverage equal to two times (2x) annual base salary.
Life Insurance Coverage Limits
Benefit Scout
This online benefits decision tool can help you and your family make your Life Insurance elections with confidence. It provides step-by-step guidance so you can find the insurance that makes sense for you. Benefit Scout walks you through a questionnaire that provides a recommendation for your specific needs and situation along with an explanation of why certain coverage was recommended.
Need help with determining how much Life Insurance you need? Visit lifebenefits.com/aeplife.
Supplemental Life Insurance
If you wish to provide your family with some extra financial protection, AEP provides you with the opportunity to purchase Supplemental Life Insurance coverage.
You may increase your Supplemental Life Insurance coverage during Annual Enrollment by one multiple of your annual base salary without providing evidence of insurability (EOI); however, EOI will be required for increases above one multiple or if one multiple of your annual base pay exceeds the Plan’s guaranteed issue amount. See the Life Insurance Coverage Limits table above for details. Election of coverage that requires EOI will not take effect until the later of January 1, 2025, or the date on which the EOI has been received and approved my Minnesota Life.
If you elect an amount of supplemental coverage that requires proof that you're in good health, your coverage will not take effect until your Evidence of Insurability (EOI) has been received and approved by Minnesota Life Insurance Company. While the approval process is efficient and may be completed in a timely manner, if any required information is missing or incomplete, your approval will take longer. Check aepbenefits.com for EOI messages.
Participant + spouse/domestic partner (monthly cost per $1,000 of coverage)
*Insuring age rate is determined by actual age at the time of payroll deduction.
Coverage is available through Securian Financial. Products are underwritten by Minnesota Life Insurance Company and Securian Life Insurance Company.
Spouse/Domestic Partner Life Insurance
Spouse or Domestic Partner Life Insurance is available in $10,000 increments, up to $500,000 of coverage. The cost for this coverage is based on your spouse or domestic partner’s age, the amount of coverage elected and tobacco-use status. Non-tobacco-use rates apply if your spouse or domestic partner has not used a tobacco or nicotine product (cigarettes, pipes, cigars, snuff, chewing tobacco, e-cigarettes, or any nicotine product, including patches or gum) for at least 12 months prior to the effective date of coverage. Your spouse or domestic partner’s tobacco-use status may change only during the Annual Enrollment period. As your spouse or domestic partner gets older, the cost for coverage will increase.
Increases in coverage during Annual Enrollment will require evidence of insurability (EOI). Election of coverage that requires EOI will not take effect until the later of January 1, 2025, or the date on which the EOI has been received and approved by Minnesota Life.
See the Dependent Eligibility section of this guide to determine if your spouse or domestic partner meets eligibility requirements. An eligible spouse does not include anyone who is insured under the Group Life Plans as an AEP employee.
Child Life Insurance
You may elect $10,000 in coverage for each eligible dependent child. Evidence of insurability (EOI) is not required to elect Child Life coverage. The cost of Child Life Insurance for 2025 is $2.23 per month, regardless of the number of eligible dependent children covered.
See the Dependent Eligibility section of this guide to determine if your child or the child of your domestic partner meets eligibility requirements.
Note: Eligible dependent children include those listed in the Dependent Eligibility section, with one exception. For Life Insurance purposes, any other child you claim as a dependent on your federal income tax return up to age 26—regardless of whether the child’s natural parent resides with you or you are acting as the child’s guardian—is considered an eligible dependent child. An eligible dependent child does not include anyone who is insured under the Group Life Plans as an AEP employee.
AD&D Insurance
Basic Accidental Death & Dismemberment (AD&D) Insurance
AD&D Insurance pays a benefit in the event of your accidental death or catastrophic loss due to a covered accidental injury. As a full-time employee of a participating AEP company, you receive two times your annual base rate of compensation (up to $1.5 million) in company-paid Basic coverage. In the event of your accidental death, a benefit is paid to your beneficiary.
Supplemental AD&D Insurance
You can elect up to an additional 10 times your annual base rate of compensation (with maximum of $1.5 million) for a combined maximum of 12 times your annual base rate of compensation (up to $3 million).
You pay the group cost of any supplemental coverage on a before-tax basis. In the event of your accidental death, a benefit is paid to your beneficiary. If you lose a limb, your eyesight, speech or hearing or become paralyzed as the direct result of a covered accident, you will receive a benefit based on the severity of your loss.
The cost for AD&D coverage will be deducted from your pay on a before-tax basis for your dependents, including those who do not meet the definition of a qualified tax dependent for AD&D coverage purposes. If you have a claim under AD&D for a dependent who is not such a qualified tax dependent, you will be responsible for the income tax reporting of the amount you receive.
Spouse/Domestic Partner and Child AD&D Insurance
If you are enrolled in Supplemental AD&D coverage, you may also purchase AD&D coverage for your spouse or domestic partner and eligible child(ren).
- Spouse/domestic partner only: Coverage up to 50% of your Supplemental AD&D coverage ($750,000 maximum).
- Family: Coverage for your spouse or domestic partner (if applicable) of 50% of your Supplemental coverage ($750,000 maximum) and/or 10% of your Supplemental AD&D coverage for your eligible child(ren) up to $25,000 for each child.
The cost for AD&D coverage will be deducted from your pay on a before-tax basis for your dependents, including those who do not meet the definition of a qualified tax dependent for AD&D coverage purposes. If you have a claim under AD&D for a dependent who is not a qualified tax dependent, you will be responsible for the income tax reporting of the amount you receive.
An eligible spouse and/or dependent child does not include anyone who is insured under the Group Life Plans as an AEP employee.
Home & Auto Insurance
AEP offers discounts on Homeowners and Auto Insurance from Farmers GroupSelectSM. You can get multiple quotes from top-rated carriers customized to your needs. Policies include auto, home, renters, condo, boat, and many more. You can enroll or discontinue coverage at any time directly through Farmers GroupSelect. The cost is based on the type of coverage you elect and will be deducted from the first two paychecks of each month on an after-tax basis.
Identity theft resolution service is included in your Home or Auto policy at no additional cost. For more information, contact Farmers GroupSelect at 1-800-438-6381 or visit metlife.com/mybenefits.
Credit Monitoring & Fraud and Identity Protection
Protect your personal info, credit, and online accounts from cybercriminals. Introducing Aura, a new benefit available to you at no cost.
With cybercriminals becoming more sophisticated and digital crime more common, AEP understands falling victim to identity theft, fraud, and scams is a growing concern for our employees. That’s why we are offering Aura to employees at no cost.
Activate your account to get these features and more:
You have access to Aura’s DigitalGuard Plan, which includes these features and more:
- Dark web monitoring for your SSN and personal info
- Credit monitoring and alerts
- People search site and spam list removal
- WiFi security (VPN), antivirus, and online ad blocker
- Personalized fraud resolution support and $5M in ID theft insurance
Getting started is fast and easy
- Visit aura.com/redeem
- Enter the AEP Access Code: 105682
- Follow the prompts to activate your account in just 3 minutes.
Legal Plan
AEP offers legal services through MetLife Legal Plans. The Plan provides affordable access to a network of attorneys in the United States for legal advice and assistance. For participating attorney information, call the MetLife Benefits Line at 1-800-438-6388 or visit metlife.com/mybenefits. The cost to participate is $15.25 per month and will be deducted from the first two paychecks each month on an after-tax basis.
Services covered include document review and preparation, as well as telephone advice and office consultations for a wide range of legal matters, such as:
- Family & Personal
- Debt Counseling
- Vehicle & Driving
- Home & Real Estate
- Civil Lawsuits (excludes criminal cases)
- Will, Estate & Future Planning
- Elder Care
You may enroll or discontinue coverage in this program only during Annual Enrollment or during your New Hire Enrollment.
Coverage ends on the last day of the month in which your employment ends. If you are in the middle of a case, MetLife will complete the work that was started while you were enrolled. You also have the option to continue your Legal Plan coverage by enrolling in an individual Plan. Contact MetLife Legal Plans at 1-833-214-4172 to learn more.
Travel Assistance
Securian LifeSuite Services
Travel Assistance from Redpoint provides 24/7/365 access to emergency assistance and transport services when traveling 100 or more miles away from home.
Visit lifebenefits.com/travel
Pet Health Insurance
AEP offers Pet Health Insurance at discounted group rates through MetLife. Coverage is also offered for pet well care (vaccination, dental, heartworm, etc.).
The cost is based on the type of coverage you elect and will be deducted from the first two paychecks of the month on an after-tax basis. You can enroll or discontinue coverage at any time.
To learn more, call MetLife at 1-800-438-6388 or visit metlife.com/mybenefits to enroll.
Long-Term Care Insurance
AEP offers Long-Term Care Insurance from LifeSecure. Long-Term Care planning is an important part of a personal financial plan, as the likelihood of requiring this care increases with age, and typically, health insurance, disability, and Medicare do not cover most of these costs.
To request a quote and use decision-support tools and calculators, go to groupltci.com/aep or call 1-844-898-1176. Direct billing is set up with LifeSecure.
Note: The Long-Term Care (LTC) Insurance market continues to evolve, and there is no guarantee any current carrier will remain in the market.
This guide is not intended to be a Plan document, Summary Plan Description, or required notice with respect to any of the Plans mentioned. AEP reserves the right to modify, amend, suspend, or terminate the Plans at any time. Refer to the applicable Plan document if you have any questions relating to a specific Plan or benefit.