Basic Life Insurance

Inovalon provides Basic Life and Accidental Death & Dismemberment (AD&D) insurance through Prudential to eligible employees at no cost.

  • You will automatically be enrolled in basic life and AD&D insurance coverage in the amount of 1x your annual base salary with a maximum of $250,000.

  • Company-paid life insurance in excess of $50,000 is considered a taxable benefit per Section 79 of the Internal Revenue Code. Any premium that is paid by the Company on the benefit amount above $50,000 is imputed income and will be reflected on your paystub.

2021 life and accidental death and dismemberment information

For more detailed information, see the Summary Plan Description.

Beneficiary Designation

You will need to designate at least one beneficiary for your life insurance(s). Your beneficiary is the spouse, parent, guardian of your child(ren), trust, etc. that will receive the money from the insurance company in the event of your death. You may designate or change your life insurance beneficiary on the benefits enrollment website at www.enroll.apbenefitadvisors.com.

Voluntary Life Insurance

You can purchase Voluntary Term Life Insurance for you and your dependents through Prudential.

Life insurance for the employee that is in addition to the Company-provided Basic Life insurance.

Amount You May Purchase:

1x – 5x annual base salary, up to $750,000

If you are a new hire, you will have to submit and pass evidence of insurability if:

  • The total coverage amount exceeds (1) 4x your annual base salary or (2) $300,000

You may be able to elect coverage or increase your election during the annual Open Enrollment. However, the full amount will be subject to evidence of insurability if you are electing coverage for the first time, increasing coverage more than 1x or increasing coverage above 4x your annual base salary or $300,000.

The cost of coverage is available on the benefits enrollment site.

Life insurance for an employee’s spouse or domestic partner.

Amount You May Purchase:

$5,000 to $250,000. Amount may not exceed 100% of your own Voluntary Employee Life insurance. Your spouse will have to submit and pass evidence of insurability if:

  • They are electing an amount greater than $50,000

Your spouse/domestic partner may be able to elect coverage or increase their election during the annual Open Enrollment. However, the full amount will be subject to evidence of insurability.

The cost of coverage is available on the benefits enrollment site.

Life insurance for the child(ren) of the employee, the employee’s spouse or domestic partner.

Amount You May Purchase:

$2,500 to $10,000 of coverage for children that are unmarried, depend on you for at least 50% of their support and are under age 26. Amount may not exceed 100% of your own Voluntary Employee Life insurance. Evidence of insurability is not required.

The cost of coverage is available on the benefits enrollment site.

Provides extra protection in the event the employee dies or suffers certain injuries as the result of an accident.

Amount You May Purchase:

1x – 5x annual base salary, up to $750,000
Evidence of insurability is not required.

The cost of coverage is available on the benefits enrollment site.

Provides extra protection in the event your spouse dies or suffers certain injuries as the result of an accident.

Amount You May Purchase:

$5,000 to $250,000
Amount may not exceed 100% of your own Voluntary Employee AD&D insurance. Evidence of insurability is not required.

The cost of coverage is available on the benefits enrollment site.

Provides extra protection in the event your child(ren) dies or suffers certain injuries as the result of an accident.

Amount You May Purchase:

$2,500 to $10,000 of coverage for children that are unmarried, depend on you for at least 50% of their support and are under age 26. Amount may not exceed 100% of your own Voluntary Employee AD&D insurance. Evidence of insurability is not required. The cost of coverage is available on the benefits enrollment site.

Evidence of insurability is a process where Prudential reviews your medical information and either approves or denies your coverage. Usually, this is a questionnaire; however, it may include reviewing medical records and a physical exam. The medical information you provide to Prudential is kept strictly confidential and will not be shared with your employer

The following dual coverages are not allowed under the life insurance plans:

  • Legal spouses who are both employed by Inovalon may not be covered as both an employee and a legal spouse
  • Legal spouses who are both employed by Inovalon may not both cover the dependent child(ren)
  • Dependents who are both employed by Inovalon may not be covered as both an employee and a dependent child(ren)

Ready to enroll or make benefits changes?

Log In
Contact the Inovalon Benefits Center for questions and enrollment help (M-F 8:00 a.m. – 5:30 p.m. ET)
1-888-896-8031
inovalon@assuredpartners.com