Life & Accident

Life Insurance Icon


Basic Life and Accident Insurance

(For regular full-time employees in salary grades 25 and below; coverage amounts differ for union employees)

To give you and your family protection and extra peace of mind, Caterpillar provides you with the following coverage, at no cost to you*:

  • Basic Life Insurance — Two times your annual base salary; and
  • Accidental Death and Dismemberment (AD&D) Insurance — One times your annual base salary if you’re injured or die in an accident.

*If you’re a tobacco user, you’ll be required to pay some of the premium.

Naming a Beneficiary

Be sure to name your beneficiaries for life and AD&D insurance when you enroll in your benefits. You can make changes to your beneficiary elections at any time through MetLife at or by calling 1-888-228-1811.

By becoming more aware of how you use your medical and prescription drug benefits, you’ll be able to make better decisions that save you and Caterpillar money.

Imputed Income

The IRS requires that you pay taxes on the premium — called imputed income — that Caterpillar pays on your behalf for life insurance in excess of $50,000. The taxes you pay are based on tables established by the IRS and are small for most employees. This ensures benefits won’t be taxable if paid out to a beneficiary. If your coverage amount exceeds $50,000, you’ll see an “Imputed Income” line item on your paystub — you’ll pay taxes on the amount shown.