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Life, Accident, and Disability

As an employee of Grant Thornton, you have the opportunity to enroll in many additional benefits.

Basic Group Life
Life insurance coverage is provided by MetLife. Grant Thornton provides basic life insurance equal to one times your annual base salary up to a maximum of $50,000. Additional supplemental life insurance is available to all employees.

Supplemental Employee Group Variable Universal Life (GVUL)

  • You can elect coverage from 1 to 10 times your salary up to a maximum amount of $3,000,000.
  • Increases to coverage amounts and enrollments during the open enrollment period may be subject to underwriting.

Spousal life insurance

  • Employees who choose supplemental employee GVUL insurance may also purchase spouse life insurance coverage. Coverage may be chosen in increments of $10,000 up to a maximum of $250,000, but cannot exceed the amount of the employee’s own coverage.
  • Increases to coverage amounts and enrollments during the Open Enrollment period are subject to underwriting.

Child life insurance

  • Employees who choose supplemental employee GVUL life insurance may also purchase child life insurance coverage.
  • You may choose either $10,000 or $25,000 in coverage.
  • Increases to coverage amounts and enrollments during the Open Enrollment period are subject to underwriting.

Accident insurance
Accidental death and dismemberment insurance (AD&D) is administered by MetLife. Grant Thornton provides $20,000 of AD&D to employees.

In addition, employees can elect additional voluntary AD&D coverage for themselves, their spouse and dependent children.

Disability insurance

  • Grant Thornton provides a short-term disability benefit up to 12 weeks of pay for eligible employees unable to work due to a non-work related injury or illness.
  • You may purchase basic group long-term disability (LTD) coverage through Lincoln Financial for income protection on your first $150,000 of income. If your approved disability continues beyond 90 days, this benefit will provide approximately 60% of pay with a maximum benefit of up to $7,500 per month (depending on your coverage level). The group LTD benefit is subject to a reduction, or offset, for other group disability benefits that you receive. For example, any Social Security disability benefits, will be offset from your LTD benefit, thereby reducing the benefit received under the plan. Employees enrolling for the first time may be subject to evidence of insurability.
  • If your annual earnings are greater than $150,000, you may also purchase Guardian Individual Disability Income (IDI) protection. When combined with the basic group LTD, this coverage allows you to increase your total monthly benefit up to a maximum of $22,500 per month (higher limits available for managing directors), depending on your earnings. Review the Benefits Handbook, located on Canvas>Life and Career>my Benefits for additional information on how the LTD and IDI plans work together to provide income protection in the event you’re not able to work due to a disability. The Guardian IDI protection benefit is individual coverage and is not reduced, or offset, for other group disability benefits that you receive.

  • Managing Directors are required to sign up for a minimum monthly benefit amount of $1,250 of IDI coverage which is paid for by the firm. Based on your income, additional coverage may be available to purchase if you wish to do so.

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