Life Insurance Plan Overview

Medtronic offers basic life insurance equal to one times your Annual Benefits Base Rate, or ABBR, at no cost to you. You have the option of purchasing additional life insurance for you, your spouse, and/or your children.

Basic (Company-Paid)Optional (Employee-Paid)
Coverage is equal to 1X ABBRYou: 1X to 15X ABBR; maximum $4 million basic and optional life benefits combined

Spouse:
  • $10,000 to $100,000 (in $10,000 increments), OR
  • $125,000 to $250,000 (in $25,000 increments)
Child: $5,000 to $25,000 (in $5,000 increments)

Good to Know

Annual Benefits Base Rate (ABBR) = base salary as of January 1 plus a 3-year average of variable pay (i.e., commissions, Medtronic Incentive Plan (MIP), etc.).

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