Life & AD&D Insurance

Company-Paid Basic Life & AD&D

Office Depot provides Company-Paid Basic Life and AD&D Insurance* of:

• 1x your annual base pay‍
  
  • up to a maximum of $250,000 or $500,000 for Vice Presidents and above
• Enrollment is not required
• Coverage follows an age‑reduction formula: your benefit drops to 65% at age 65, then reduces again every five years after that
• Coverage terminates at retirement

* If you aren’t actively working when your life & AD&D coverage is set to begin, your coverage will start the day after you return to active employment.

Supplemental Life

Coworker Life Enhanced Guaranteed Issue

You can purchase additional coverage for extra protection and peace of mind. Costs are deducted from your paycheck.

• ‍1x–7x your annual base salary‍
  
  • up to $2,250,000 or up to $3,000,000 for Vice Presidents and above, including basic life
• If enrolling when initially eligible, the Guaranteed Issue Amount is the lesser of 4x your annual base salary or $500,000. Anything in excess will require EOI
• If you do not enroll when initially eligible, all subsequent enrollments require EOI
• Coverage follows an age‑reduction formula: your benefit drops to 65% at age 65, then reduces again every five years after that
• Coverage terminates at retirement

Spouse Life

Elect from $10,000, up to $250,000

• Spouse Life amount cannot exceed 100% of the total of your Basic and Supplemental Life
• If your spouse/domestic partner also works for Office Depot and is full-time benefits eligible, you cannot enroll them in Spouse Life
• If enrolling when initially eligible, the Guaranteed Issue Amount is $50,000. Anything in excess will require an EOI
• If you do not enroll when initially eligible, all subsequent enrollments require EOI

Child Life

Elect from $5,000 up to $25,000 for children up to age 26. EOI is not required.

Voluntary AD&D

Elect up to 7x your annual base salary to a maximum of $2 million. Coverage terminates at retirement.

Coworker-Only Coverage

• 100% benefit for submitted claim

Family Coverage

Percentages reflect the percentage of the Coworker’s coverage amount.

• Spouse/Domestic Partner with children — 40% benefit
• Spouse/Domestic Partner with no children — 50% benefit
• Child(ren) (Spouse/Domestic Partner) — 15% up to maximum limit
• Child(ren) (with Spouse/Domestic Partner) — 10% benefit up to maximum limit

Evidence of Insurability (EOI)

Review the chart to understand your benefit options and when Evidence of Insurability (EOI) may be required. You will receive an alert in the Office Depot Benefits Hub to complete an online form if EOI is required. The carrier’s underwriting department will review the enrollment and notify you of their decision. You are not eligible for, or paying for, any amounts requiring EOI until and unless it is approved by the life insurance carrier.

Benefit Cost

Designate Your Beneficiaries

Don’t forget! Designate your beneficiaries during enrollment and update anytime during the year. Your beneficiary is the person or people who receive your plan benefits if you die. Be sure to review your beneficiaries periodically, especially when a life event occurs (marriage, divorce, death, etc.) You are automatically the beneficiary for Spouse or Child Life Insurance coverage.

Log in to the Office Depot Benefits Hub. You can review and update your beneficiaries by selecting Profile in the top-right corner of the homepage > Beneficiaries.