Term Life Insurance

BB&T provides basic Term Life Insurance coverage equal to two times your Benefits Annual Rate at no cost to you. You can also choose an additional one to six times your benefits base salary in supplemental Term Life Insurance coverage.

Once you select a level of coverage when you initially enroll, you may increase your coverage at the rate of one level per year during Annual Benefits Enrollment (provided you are actively employed). If you cancel or decrease your coverage, you will be limited to one level of increase during next year's Annual Benefits Enrollment.

The maximum coverage available (basic plus supplemental) is $2,000,000.


Premiums for the supplemental term life insurance coverage are based upon your Benefits Annual Rate and age.

Evidence of insurability

If you elect supplemental Term Life Insurance coverage greater than $400,000 or four times your salary, you will receive a form, mailed to your home, from The Hartford that you must complete and return as evidence of good health and insurability. You will need to provide evidence of good health and insurability the first time you elect supplemental Term Life Insurance coverage greater than $400,000 or four times your salary and any time you increase your coverage above $400,000 or four times your salary.

Term life insurance example

The Term Life Insurance program provides basic coverage, as well as the option to elect various amounts of Supplemental Coverage. Here's how it works for an associate with a $25,000 Benefits Annual Rate:


Supplemental Term Life Insurance Amount of Supplemental Coverage Amount of Basic Coverage 2 x Benefits Annual Rate Total Life Insurance Coverage
No Additional Coverage $0 $50,000 $50,000
1 x Benefits Annual Rate $25,000 $50,000 $75,000
2 x Benefits Annual Rate $50,000 $50,000 $100,000
3 x Benefits Annual Rate $75,000 $50,000 $125,000
4 x Benefits Annual Rate $100,000 $50,000 $150,000
5 x Benefits Annual Rate $125,000 $50,000 $175,000
6 x Benefits Annual Rate $150,000 $50,000 $200,000

Related information

EXCELLENCE Associate Handbook

View the entire handbook or individual sections.

Summary Plan Descriptions

Summaries for your benefits, retirement and more.

No personal or confidential associate information is contained within BBTBenefits.com.

Information contained within BBTBenefits.com applies to eligible associates residing in the United States, unless otherwise specified.

Not all subsidiaries and affiliates of BB&T Corporation participate in the benefit programs and policies presented within BBTBenefits.com.

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