BNY Mellon Benefits Guide
Dependent Coverage
Spouse/Domestic Partner Life Insurance
This benefit provides life insurance coverage for your spouse or domestic partner. You are automatically the beneficiary for this coverage. You pay for this coverage with after-tax dollars. To make our life insurance benefits more consistent with industry standards, we are changing premium rates for spouse/domestic partners from a flat fee to age-based rates.
You may choose from the following three options:
  • No Coverage
  • $25,000
  • $50,000
During Open Enrollment (or if you make a mid-year change due to a Qualified Life Event), you may increase coverage by one level only. For more information, see "What Is a Qualified Life Event" in the Changing Coverage section.
Child Life Insurance
This benefit provides life insurance coverage for one or more of your dependent children. If you elect this benefit, it covers all of your eligible dependent children*—you cannot elect separate coverage for each child. You are automatically the beneficiary for this coverage. You pay for this coverage with after-tax dollars.
You may choose from the following three options:
  • No Coverage
  • $10,000
  • $15,000
* Eligibility: Your children up to age 26, regardless of full-time student status, residency, financial support, marital status or access to other employer-sponsored coverage. No person can be insured as a dependent of more than one employee under the Policy.