BNY Mellon Benefits Guide
Employee Coverage
Life Insurance
BNY Mellon automatically provides you with coverage equal to your annual base pay. Additional benefits include but are not limited to:
  • an accelerated death benefit; and
  • portability and/or the ability to convert your policy.
Additional details about these benefits are available on MySource.
Your Life Insurance Coverage Choices
  • Basic – You automatically receive BNY Mellon-paid coverage equal to your annual base pay, up to $500,000.
  • Buy down – You may "buy down" to $50,000 of coverage and receive a credit (if your annual base pay is greater than $50,000).
  • Supplemental – You may purchase additional coverage of one to eight times your annual base pay, up to a $3 million maximum, subject to Evidence of Insurability as described above.
AD&D Insurance
AD&D (accidental death and dismemberment) insurance provides financial protection for your family in the event of your death or serious injury in an accident. BNY Mellon automatically provides you with coverage equal to your annual base pay at no cost to you.
The plan pays the full coverage amount to your beneficiary in the event of your death as the result of an accident. For certain serious accidental injuries, the plan pays a portion of the coverage amount to you.
Your AD&D Insurance Coverage Choices
  • Basic – You automatically receive basic BNY Mellon-paid coverage equal to your annual base pay, up to $500,000.
  • Supplemental – You may purchase additional coverage of one to eight times your annual base pay, up to a $3 million maximum.
Travel Accident Insurance
In addition to AD&D insurance, BNY Mellon provides you with travel accident insurance that provides accident protection for you while you travel on company business or commute to and from work.
If you're on a company business trip and have an accident, travel accident insurance pays full benefits in the event of your death, or partial benefits if you suffer certain serious injuries. BNY Mellon provides you with coverage equal to five times your annual base pay, with a minimum coverage amount of $250,000 and a maximum coverage amount of $4 million. This coverage is provided automatically at no cost to you. There is no need to enroll.