When coverage begins and ends.
- You must be classified as full-time hourly or management associate to be eligible for company paid life insurance. You must be actively at work in order for your coverage to become effective.
- If your job status changes to part-time, it ends on the last day of your full-time pay period.
- There are also ways to continue coverage when you leave the company.
Who’s covered?
All Walmart full-time hourly associates and salaried associates are automatically enrolled in company-paid life insurance up to a maximum of $50,000.
Additional Coverage
All Walmart full-time associates and management associates are automatically enrolled in company-paid life insurance up to a maximum of $50,000. The question you need to ask yourself is: ‘“Should I consider purchasing additional coverage?’”
Depending on your personal financial needs and the needs of others who rely on you for financial support, the company-provided coverage may not be enough.
More than 7 in 10 American households say that they haven’t bought more life insurance because they have other financial priorities right now. Nearly two-thirds say they simply can’t afford it.*
Over half of all households say they would have to rely on life insurance to help pay their bills and to maintain their lifestyle in the event of the primary wage earner's death.*
*LIMRA’s 2016 Household Trends in Life Insurance Ownership Study
Do I need additional optional life insurance?
You work hard every day to provide for your family. The last thing you want is to leave them in dire financial straits. Optional life insurance can offer additional financial protection. All eligible, full-time and hourly associates can purchase optional life insurance with coverage up to $200,000. Management can purchase additional coverage up to $1 million. Additionally, if a spouse, partner or dependent were to pass away, optional dependent life insurance is available for up to $200,000 for spouses and $20,000 for dependent children.
How much additional coverage will I need?
If you’re thinking about increasing coverage, start by asking yourself a few important questions:
- Have there been any changes in my life, like a new baby, a new home or a change in marital status?
- How much money would my family need to make ends meet without my current income?
- If you’re single, ask: How much money will my parents or loved ones need to pay off existing debts like a mortgage, car payment or medical expenses?
- If you’re married, ask: How much money would my spouse or partner need to fund his/her retirement?
- Are there family members like parents or children who need my ongoing support?
The answers to these questions will help you determine the amount of supplemental insurance that’s right for you. Use the Prudential needs calculator to help answer these questions.
Enrolling in Higher Coverage
If you're enrolling in optional associate life insurance for higher coverage, or to cover your dependents, you'll be required to complete a questionnaire, or have an exam to show proof of good health if:
- During your initial enrollment period the coverage amount you select is above $25,000.
- During your initial enrollment period the coverage amount you select for optional spouse/partner life insurance is above $5,000.
- Proof of good health is not required for child life insurance.
- After your initial enrollment period, you enroll in any amount of coverage.
Or, after your initial enrollment period you increase the amount of your coverage.
Download the Proof of Good Health application form: English | Spanish
Naming a beneficiary
To ensure your life insurance benefit is paid according to your wishes, you must name one or more beneficiaries. A beneficiary is a person you choose to receive your money in case of your death. You can name anyone you wish. If no beneficiary is named, payment will be made to your surviving family members. Learn more about designating beneficiaries or designate your beneficiary(ies) online. Associates purchasing optional life insurance for their dependents are automatically designated as the beneficiary on those policies.
Within 12 months of your death, your beneficiaries must contact Prudential at 877-740-2116 and provide the following information:
Your name
Your Social Security number
Your date of death
Your cause of death
They must mail an original or certified copy of the death certificate to:
The Prudential Insurance Company of America
Group Life Claim Division
P.O. Box 8517
Philadelphia, PA 19176
If you are terminally ill, you can receive up to 50% of the amount your beneficiary(ies) will receive upon your death, while you are still living. Payment can be made in one lump sum or in 12 equal monthly installments. When you die, your beneficiary(ies) will receive the remaining 50%. This benefit is called the "accelerated benefit" and can help many families during difficult financial times.
Walmart and Prudential provide two options to continue your life insurance when you leave the company. The portability option allows you to continue all or a portion of your current coverage through a group term policy with Prudential. The conversion option allows you to convert all or a portion of your coverage to a Prudential individual policy. Either way, you may be able to continue your coverage.
In addition to life insurance, Walmart offers you estate-planning services through a partnership with EstateGuidance. EstateGuidance offers you the convenience of preparing your will online so that your assets will be distributed as you see fit. To complete the online questionnaire, log onto willguidance.com, promotional code: WALMART.
Whenever you have questions, you can always call Prudential at 877-740-2116 or visit www.prudential.com/walmart. You can also view detailed information about the company-paid and optional life insurance plans in the Associate Benefits Book.
See the 2024 Associate Benefits Book for more information about your benefits and eligibility. It will control over any conflicting information on this page.
