Participating in the Life Insurance and Accident Plans

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The Life and Accident Insurance Plans

Participating in the Life Insurance and Accident Plans

The general guidelines for participating in the JPMorgan Chase Life Insurance and Accident Plansare described in this section. Since most benefits described here are provided by insurance, the terms of the policy or insurance certificate will control eligibility for benefits. If there is a discrepancy between this description and the policy or certificate, the policy or certificate will control.

Eligibility

In general, you are eligible to participate in the JPMorgan Chase Life and Accident Insurance Plans if you are:

A U.S. dollar-paid employee who receives salary or earns draw, commissions, or production overrides ("salaried employee");

Regularly scheduled to work 20 or more hours per week; and

Employed by JPMorgan Chase & Co. or one of its subsidiaries to the extent that such subsidiary has adopted the plan.

Please Note: An individual classified or employed in a work status other than as a common law salaried employee by his/her employer, such as an:

Independent contractor/agent (or its employee),

Hourly-paid employee,

Intern, and/or

Occasional/seasonal, leased, or temporary employee,

is not eligible to participate in the plan regardless of whether an administrative or judicial proceeding subsequently determines this individual to have instead been a common law salaried employee.

However, in the case of the Business Travel Accident Insurance Plan, all employees of JPMorgan Chase or a participating company are automatically covered by this insurance.

Your participation in the following plans is automatic:

Basic life insurance;

Business travel accident insurance; and

SurvivorSupport® financial counseling services.

Your participation in the following plans is optional:

Employee supplemental term life insurance;

Dependent supplemental term life insurance;

Employee accidental death and dismemberment (AD&D) insurance; and

Dependent accidental death and dismemberment (AD&D) insurance.

Your Eligible Dependents

Imputed Income

You must pay income taxes on the value of your company-provided basic life insurance above $50,000. This value is called "imputed income" and becomes part of your taxable income reported on your W-2. If your benefits pay is greater than $50,000, you can choose to limit your basic life coverage to $50,000. However, if you later wish to increase your coverage, evidence of insurability (EOI) rules will apply.

For details about your eligible dependents under the Dependent Supplemental Term Life Insurance Plan and the Dependent Accidental Death and Dismemberment (AD&D) Insurance Plan, please refer to "Your Eligible Dependents" in the "Medical Plan" section of this Guide.

Please Note: You may choose supplemental term life insurance for your spouse/domestic partner even if you do not elect coverage for yourself. However, you must elect either employee and/or spouse/domestic partner supplemental term life insurance coverage to elect coverage for eligible children. To choose dependent supplemental term life insurance for your domestic partner's children, your domestic partner must be enrolled in supplemental term life insurance. If you are enrolled when your employment terminates and choose to port your employee supplemental term life insurance, you may also port any dependent supplemental term life insurance. If your termination is due to the end of your disability benefits, you may only convert your supplemental term life insurance coverage; it cannot be ported. Otherwise, dependent supplemental term life insurance can only be converted to an individual policy. In the event of a divorce or your death, your covered spouse/domestic parther can elect to port dependent supplemental term life insurance.

You may choose dependent AD&D insurance for your spouse/domestic partner even if you do not elect coverage for yourself. However, you must elect either employee and/or spouse/domestic partner AD&D coverage to elect coverage for eligible children. To choose dependent AD&D insurance for your domestic partner's children, your domestic partner must be enrolled in AD&D insurance when your employment terminates. When your coverage terminates, and you port your AD&D insurance, you may also port any dependent AD&D insurance. In the event of a divorce or your death, your covered dependents can elect to port AD&D insurance.

Cost of Coverage

JPMorgan Chase pays the full cost of your coverage under the Basic Life Insurance Plan, the Business Travel Accident Insurance Plan, and SurvivorSupport® Financial Counseling Service. You pay the full cost of any employee and dependent coverage under the Supplemental Term Life Insurance Plan and employee and dependent coverage under the Accidental Death and Dismemberment (AD&D) Insurance Plan.

Your cost of coverage for supplemental term life insurance depends on your and/or your spouse's/domestic partner's age as of January 1, smoker status, and the amount of coverage you elect. The cost you pay for your children is the same, regardless of the number of children you have and is dependent on the amount of coverage you elect. The cost you pay for AD&D insurance for yourself and/or your dependents, including your spouse/domestic partner or children, depends on the amount of coverage you elect.

Your costs for supplemental term life insurance and AD&D insurance are automatically deducted from your pay on an after-tax basis.

If you have coverage but are away from work because of an unpaid leave of absence, you will be directly billed for any required contributions on an after-tax basis.

From time to time, refunds or adjustments of contributions and proceeds from demutualizations are received, which are associated with these and other plans and prior plans of heritage companies. These funds will be placed in trust and will be used solely for the employee plan purposes for which employees pay the costs, including the reduction of contributions for life, AD&D, disability, or employee-paid insurance. Or, these funds will be used to provide benefits under such plans or prior plans.

Smoker Status

Employees and their covered dependents who do not smoke pay less for supplemental term life insurance coverage. Each year, employees must verify their status as a non-smoker or smoker, as well as the status of all covered dependents, under the applicable plans. To be considered a non-smoker and pay lower, non-smoker rates under the applicable plans for a plan year, you and/or any covered dependents must be smoke-free for at least 12 months as of January 1 of that plan year, or complete an approved smoking cessation program. If you continue to smoke, you will need to complete an approved smoking cessation course annually to continue to qualify for the lower, non-smoker rates. You and all your covered dependents (adult and children) must be non-smokers to qualify for lower, non-smoker rates.

Please Note: In your first calendar year of employment, you will be assigned non-smoker rates for your and your dependents' coverage even if you declare yourself and/or your dependent(s) a smoker, because you may not have had an opportunity to complete a smoking cessation course in order to qualify for the lower, non-smoker rates. In subsequent years, however, you will be eligible for non-smoker rates only if you have been smoke-free for 12 months (as of January 1) or if you complete a smoking cessation course, as described in the preceding paragraph.

However, if you were hired on or after October 1, for the current plan year and in the following plan year you will be assigned non-smoker rates for your and your dependents' coverage even if you declare yourself a smoker, because you may not have had an opportunity to complete a smoking cessation program in order to qualify for the lower, non-smoker rates.

You'll receive more information regarding the opportunity to update your smoker status during each annual benefits enrollment period.

For more information on the Smoking Cessation Programs, please go to Company Home > HR & Personal > Life & Well-Being > Personal Health > Smoking Cessation Program.

How Smoker Is Defined

Under the JPMorgan Chase Benefits Program, a person who has smoked any type of tobacco product (e.g., cigarettes, cigars, or a pipe) regardless of the frequency or location (this includes daily, occasionally, socially, at home only, etc.) in the 12 months preceding any January 1 is considered a "smoker." This definition does not pertain to users of tobacco products that are not smoked, such as chewing tobacco or snuff.

How to Enroll

Participation in the Basic Life Insurance Plan, Business Travel Accident Insurance Plan, and SurvivorSupport® Financial Counseling Service is automatic — you don't need to enroll.

Participation in the Supplemental Term Life Insurance Plan and Accidental Death and Dismemberment (AD&D) Insurance Plan is optional. You must enroll to have coverage.


If You:	What You Need to Do to Enroll:
Are an Employee	During an annual benefits enrollment period, you can make your elections through the Benefits Web Center via My Rewards @ Work or via the Benefits Call Center. At the beginning of each enrollment period, you'll receive instructions on how to enroll. You'll also receive information about the choices available to you and their costs at that time. You need to review your available choices carefully and enroll in the option that best meets your needs. You can't change your choices during the year unless you have a qualified change in status. Please see "Qualified Change in Status" for more information.
Are a Newly Hired Employee	If you've just joined JPMorgan Chase and are enrolling for the first time, you need to make your choices through the Benefits Web Center via My Rewards @ Work or via the Benefits Call Center within 31 days of your date of hire for both supplemental term life insurance and AD&D insurance if you are a full-time employee, and within 31 days prior to becoming eligible if you are a part-time employee. Part-time employees will receive their enrollment materials within 31 days prior to becoming eligible and can enroll at that time. You can access your benefits enrollment material online via Company Home > HR & Personal > Pay & Benefits > Enrollment Materials. (In most cases, a copy of these materials will also be sent to you via interoffice mail. However, you do not need to wait for these materials to arrive to make your enrollment elections online.)
Have a Change in Work Status or Qualified Change in Status	If you're enrolling during the year because you're a newly eligible employee due to a work status change or you have a qualified change in status, you'll have 31 days from the date of the change in status to make your new choices through the Benefits Web Center via My Rewards @ Work or via the Benefits Call Center. Please see "Qualified Change in Status" for more information and speaking with a Service Representative.

Depending on your Supplemental Term Life Insurance Plan election, you may be required to provide evidence of insurability (EOI). (Please see "Evidence of Insurability" for more information.) Please Note: There are no EOI requirements for AD&D insurance.

If You Do Not Enroll


If You:	And You Do Not Enroll:
Are an Employee	If you're already participating in the Life and Accident Insurance Plans and do not change your elections or cancel coverage during the annual benefits enrollment period, you'll keep the same coverage you had before the annual benefits enrollment period. However, you'll be subject to any changes in the plan and coverage costs.
Are a Newly Hired or Newly Eligible Employee	If you're a newly hired or newly eligible employee and do not actively enroll within the designated 31-day eligibility period, you won't be able to choose supplemental term life insurance and/or accidental death and dismemberment (AD&D) insurance until the next annual benefits enrollment period unless you have a qualified change in status. All new coverage elections will require you to provide evidence of insurability (EOI) at that time. Please see "Qualified Change in Status" for more information.
Have a Qualified Change in Status	If you have a qualified change in status that allows you to enroll in supplemental term life insurance and/or accidental death and dismemberment (AD&D) insurance mid-year and you do not actively enroll within the designated 31-day period, you won't be able to choose supplemental term life insurance and/or AD&D insurance until the next annual benefits enrollment period. Please see "Qualified Change in Status" for more information. All new coverage elections will require you to provide evidence of insurability. Please see "Evidence of Insurability" for more information.

When Coverage Begins

Basic life insurance begins on the first day of the month following your date of hire, if you are a full-time employee. Coverage for part-time employees begins on the first of the month following 90 days from your date of hire. In either case, you must be actively-at-work on the date that your coverage is scheduled to begin.

Business travel accident insurance begins on your date of hire. You must be actively-at-work on the date that your coverage is scheduled to begin.


If You:	When the Coverage You Elect Begins:
Are an Employee	Supplemental Term Life Insurance. If you or your eligible spouse/domestic partner enroll for coverage for the first time or make increases in current coverage during an annual benefits enrollment period, your coverage will take effect the later of January 1 of the following plan year or the date that your evidence of insurability (EOI) form is approved by The Prudential Insurance Company of America, the claims administrator. You must be actively-at-work on the coverage effective date. If you elect to reduce or discontinue your supplemental term life insurance during an annual benefits enrollment period, your election will take effect the following January 1. Please see "Evidence of Insurability" for more information. Accidental Death and Dismemberment (AD&D) Insurance. The coverage you elect during the annual benefits enrollment period generally takes effect the beginning of the following plan year (January 1) as long as you are actively-at-work on your first scheduled day on or after this effective date. There is no EOI required for AD&D insurance.
Are a Newly Hired or Newly Eligible Employee	Supplemental Term Life Insurance: The coverage you elect as a newly hired employee takes effect as follows: If you are a full-time employee, coverage begins on the first day of the month following your date of hire. The Prudential Insurance Company of America, the claims administrator, approves any required EOI. If you are a part-time employee regularly scheduled to work at least 20 but less than 40 hours per week, coverage begins on the first of the month following 90 days from your date of hire. The Prudential Insurance Company of America, the claims administrator, approves any required EOI. In either case, you must be actively-at-work on the date that your coverage is scheduled to begin. If you enroll for supplemental term life insurance when you are a newly hired employee, you are allowed to enroll for supplemental term life insurance for an amount up to the lesser of three times benefits pay or up to $500,000 without having to submit EOI. You can enroll a spouse/domestic partner for an amount up to $50,000 without having to submit EOI. Elected amounts above these guaranteed issue amounts will be subject to EOI and will not be effective until approved by Prudential. Please see "Evidence of Insurability" for more information. Accidental Death and Dismemberment (AD&D) Insurance. The coverage you elect as a newly hired employee takes effect as follows: If you are a full-time employee, coverage begins on the first day of the month following your hire date. If you are a part-time employee regularly scheduled to work at least 20 but less than 40 hours per week, coverage begins on the first of the month following 90 days from your date of hire. In either case, you must be actively-at-work on the date that your coverage is scheduled to begin. There is no EOI required for AD&D insurance.
Have a Change in Work Status or Qualified Change in Status	Supplemental Term Life Insurance. If you have a change in work status, or experience a qualified change in status, and you elect to change your elections based on that status change, your coverage will begin on the first day of the month in which payroll deductions begin and following written approval by The Prudential Insurance Company of America, the claims administrator, of any required EOI. You must be actively-at-work on the coverage effective date. Accidental Death and Dismemberment (AD&D) Insurance. If you have a change in work status, or experience a qualified change in status, and you elect to change your elections based on that status change, your coverage will begin on the date of the status change. There is no EOI required.

Qualified Change in Status

The Supplemental Term Life Insurance Plan and/or Accidental Death and Dismemberment (AD&D) Insurance Plan elections you make during the annual benefits enrollment period will stay in effect through the following plan year (or the current plan year if you enroll during the year as a newly eligible employee). However, you may be permitted to change your elections before the next annual benefits enrollment period if you have a qualified change in status.

Please Note: Any changes you make during the year must be consistent with your qualified change in status.

If you have a qualified change in status and want to change your coverage, please see the Benefits Status Change Guide available on the Company Home > HR & Personal > Pay & Benefits > Library, which includes details on how to make changes. This Guide is also available on request through the Benefits Call Center. You need to enroll through the Benefits Web Center via My Rewards @ Work or via the Benefits Call Center within 31 days of the qualifying event. Otherwise, you will not be able to make the change in coverage until the following annual benefits enrollment period. Documentation of eligibility isn't always required when you enroll but may be required at any time by JPMorgan Chase or the claims administrator.

If you have questions during the year about qualifying events and what the allowed benefits changes are, please visit the Benefits Web Center via My Rewards @ Work or contact the Benefits Call Center and speak with a Service Representative.

You and/or your eligible dependents may need to satisfy certain evidence of insurability (EOI) requirements for the Supplemental Term Life Insurance Plan, as determined by the claims administrator, before coverage due to a qualified change in status can begin. (Please see "Evidence of Insurability" for more information.) Your coverage will begin on the first day of the month in which payroll deductions begin and following written approval by The Prudential Insurance Company of America, the claims administrator, of any required EOI. In addition, you must be actively-at-work on the effective date of your coverage.

Qualified changes in status under the Supplemental Term Life Insurance Plan and Accidental Death and Dismemberment (AD&D) Insurance Plan are listed in the following table .

* You must have or elect employee and/or adult supplemental term life insurance to cover your dependent children under the plan. You must elect adult supplemental term life insurance for your domestic partner to cover your domestic partner's children under the plan.

** You must have or elect employee and/or adult AD&D insurance to cover your dependent children under the plan. You must elect adult AD&D insurance for your domestic partner to cover your domestic partner's children under the plan.

*** Also applies to a domestic partner relationship.

Beneficiaries

A beneficiary is the person, people, estate, or entity you name to receive benefits from the Life and Accident Insurance Plans if you die. You can name anyone as your beneficiary — including a trust — or you can name more than one person to share the benefit. You can also change your beneficiary at any time, and you can have different beneficiaries for each benefit.

Keep in mind that if you name more than one person as your beneficiary, you should specify what percentage of your benefit each beneficiary would receive to total 100%. If you don't specify what percentage each beneficiary would receive, all your beneficiaries will share in your benefit equally.

For company-paid life and business travel accident insurance, employee supplemental term life insurance and employee accidental death and dismemberment (AD&D) insurance: If you don't have a designated beneficiary (or your named beneficiary dies), benefits will be paid in equal shares in the following order:

Surviving spouse/domestic partner

Surviving children

Surviving parents

Surviving siblings

Your estate

For dependent supplemental term life insurance and dependent accidental death and dismemberment (AD&D) insurance: You're automatically the beneficiary for your spouse/domestic partner and/or children. If you and your spouse/domestic partner both work for JPMorgan Chase, the parent who covers the child(ren) is the beneficiary.

Assignment of Rights

You're entitled to transfer your basic and supplemental term life insurance ownership rights to another person, people, trust, or estate. Generally, the primary reason for making an assignment (i.e., transfer ownership) of your life insurance is estate planning. For more information, please call the Benefits Call Center and speak with a Service Representative.