What you need to know
Honeywell understands that the unexpected happens. That’s why we offer several benefits to protect the financial security of you and your family when unplanned events prevent you from working and receiving your paycheck. In addition to disability benefits, we offer life, accidental death and dismemberment (AD&D), and business travel accident (BTA) Insurance.
If you cannot work due to an approved non-work-related illness or injury, we provide short-term disability (STD) and long-term disability (LTD) benefits.
Short-term disability (STD)
STD provides you with income for up to 26 weeks if you are approved by the Honeywell Leave and Disability administrator, New York Life, and unable to work due to illness or an injury. STD is provided automatically at no cost to you. The amount you receive is based on your base salary.
Long-term disability (LTD)
LTD covers 60 percent of your annual base pay (or optional annual base pay plus variable pay for incentive-eligible employees) if you are approved by the administrator and cannot work due to illness or injury for more than 26 weeks.
Enrollment in LTD is voluntary, and you pay the full cost of coverage. You must enroll within your first 90 days to receive coverage without having to provide evidence of insurability (EOI). If you enroll after 90 days, you have to provide EOI to the Honeywell Leave and Disability administrator, New York Life, for coverage approval.
Learn more about STD and LTD in the Benefit Center.
Honeywell automatically provides you with basic life insurance equal to 1 times your annual base pay. In the event you die while working at Honeywell, this amount is paid to your beneficiary.
In addition to basic life insurance, you have the option of purchasing additional group universal life (GUL) insurance. You pay the full cost coverage, which varies based on age, coverage level and tobacco status.
The cost tends to be lower than you would pay if you purchased it elsewhere, because we offer group rates.
Purchase life insurance, or learn more
You may purchase coverage for:
- You – Up to 8 times your annual base pay
- Your spouse – Up to 4 times your annual base pay
- Your dependent children – Coverage of $10,000 or $20,000 for each eligible child
You also have the option of setting aside additional money in the GUL cash value account, which earns a fixed rate of interest, tax deferred. You can withdraw or take loans from the account at any time.
Evidence of insurability is required:
- For certain amounts of life insurance above guaranteed issue for you and your spouse
- If you do not enroll within 31 days of your start date
Accidental death and dismemberment (AD&D) insurance
In the event of your accidental injury or death, your beneficiary receives your AD&D insurance benefit. It is equal to 1.5 times your annual base pay. This coverage is provided at no cost to you.
You also have the option to purchase additional AD&D insurance for you and your family each year during Annual Enrollment. You may purchase coverage for:
- You only – Up to 8 times your annual base pay
- You and your spouse – Up to 8 times your annual base pay for you and 60 percent of your coverage for your spouse
- You and your child(ren) – Up to 8 times your annual base pay for you and 20 percent of your coverage for each eligible child
- You, your spouse and your child(ren) – Up to 8 times your annual base pay for you, 50 percent of your coverage for your spouse, and 10 percent of your coverage for each eligible child
Business travel accident (BTA) insurance
If you die or are severely injured while traveling on company business, you are covered by the BTA insurance benefit. It also covers emergency medical expenses and evacuation if you are injured outside of the country where you live. It is equal to 5 times your annual base pay. This coverage is provided automatically at no cost to you.
A beneficiary is the person (or people) you name to receive a benefit in the
event of your death.
Choose your beneficiary