What is the XPO-provided Basic Life and AD&PL insurance benefit?
The Basic Life and AD&PL benefit varies depending on your employment status, e.g., hourly or salary. For more information, visit the myXPO Portal and click on the Your Benefits link.
Can I buy higher Life Insurance coverage without providing Evidence of Insurability during Open Enrollment?
If you are currently enrolled in coverage, you can increase your coverage — up to the guaranteed issue — without Evidence of Insurability. Any increase above the guaranteed issue amount may require Evidence of Insurability.
What is the tax impact of "imputed income" for XPO-provided Basic Life Insurance over $50,000?
The imputed income amount is based on the amount of coverage over $50,000 for the basic life insurance benefit. So if your benefit amount is $75,000, the imputed income calculation would be based on $25,000 ($75,000 – $50,000). The rate used for imputed income is calculated from age-based IRS tables. Imputed income will be reported on your W-2.
Can I reduce my basic life insurance coverage to $50,000 in order to avoid imputed income?
Yes. XPO allows employees to reduce coverage to avoid imputed income. Call the XPO Benefit Center if you want to avoid imputed income.
Why am I being asked if my spouse and I use tobacco when I select my life insurance plan?
Our life insurance carrier provides discounted rates to non-tobacco users because they are a lower risk than people who use tobacco products.