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Life and AD&D Insurance.

If you are injured or die, Best Buy offers several ways to protect your income and financial well-being for your beneficiaries.

2022
benefits guide.

Focused on your well-being.

Support for you and your loved ones.

Select your employment category:

Full-time
Part-time or Seasonal
Best Buy
Best Buy Health
Eligible for medical
Not eligible for medical
Learn More

Basic coverage.

You (or your beneficiary) receive a benefit through Best Buy’s Basic Life Insurance and Accidental Death and Dismemberment Insurance (AD&D) in the case of an untimely death or accident. Life insurance helps your beneficiaries pay for things like burial expenses, debts and future expenses. AD&D insurance is in addition to life insurance benefits and can be used to pay for daily expenses and other needs. AD&D insurance also pays partial benefits if you lose your sight, hearing, a limb, ability to speak and more in a covered accident.

Best Buy provides these benefits to you at no cost:

  • Basic Life Insurance: 1x annual pay*
  • Basic AD&D Insurance: 1x annual pay*

*Base pay + bonus or commissions 

Choose your beneficiaries.

Your beneficiary is the person who will receive a benefit should you die. When you enroll, you will be asked to name beneficiaries for your life and AD&D insurance. Make sure to have their names, addresses and Social Security numbers handy when you enroll.

Optional coverage.

You can buy optional life and AD&D insurance coverage for yourself. When you enroll as a new hire, you can elect 1x–8x your annual pay, up to $1 million in coverage. During Benefits Annual Enrollment, you can enroll for the first time or increase your coverage by one level. You can also buy optional life insurance for your eligible dependents.

If you are new to Best Buy benefits for 2022, you’ll be able to increase your Life and AD&D insurance elections by more than one coverage level during Benefits Annual Enrollment, if desired. Typically, you can only increase by one level each year.

Your cost for coverage.

  Monthly Cost per $1,000 of coverage
(up to $1,000,000)
Monthly Cost per $1,000 coverage
(up to $100,000)

Age1

Optional Life

Optional AD&D

Spouse / Domestic
Partner Life

0 – 24 

$0.048 

$0.02 

$0.037

25 – 29 

$0.058 

$0.02 

$0.026

30 – 34 

$0.077 

$0.02 

$0.029

35 – 39 

$0.086 

$0.02 

$0.040

40 – 44 

$0.096 

$0.02 

$0.062

45 – 49 

$0.144 

$0.02 

$0.102

50 – 54 

$0.221 

$0.02 

$0.163

55 – 59 

$0.413 

$0.02 

$0.238

60 – 64 

$0.634 

$0.02 

$0.311

65 – 69 

$1.220 

$0.02 

$0.448

70+ 

$1.980 

$0.02 

$1.080

1. As of Jan. 1 of the year following your birth date. For birthdays on Jan. 1, your rate will be calculated based on the age you turn that day.

Coverage reductions.

Life and AD&D benefits for you and your spouse or domestic partner will be reduced on Jan. 1 of the year following the participant’s 65th and 70th birthdays, as follows:

  • Age 65: benefits reduce 35%
  • Age 70: benefits reduce 50%

For birthdays on Jan. 1, this reduction will take effect on the date the participant turns 65 or 70.

Your cost for child life insurance.

All eligible children, from live birth to age 26, are covered for one cost based on the amount of coverage elected.

Coverage Options Monthly Cost

$5,000

$0.50

$10,000

$1.00

$20,000

$2.00

$30,000

$3.00