Hourly Team Members
Life and AD&D
Life Insurance through Lincoln Financial Group pays a lump-sum benefit to your beneficiaries to help meet expenses in the event you pass away. Accidental Death and Dismemberment (AD&D) insurance pays a benefit if you die or suffer certain serious injuries as a result of a covered accident.
Voluntary Life
You can purchase Voluntary Life Insurance for yourself, your spouse, and/or your dependent child(ren). Your cost for this coverage is based on the amount you elect and your age. You must purchase Voluntary Life Insurance for yourself to purchase spouse and/or dependent child(ren) coverage. If you did not enroll in this coverage when you were first eligible, you will need to provide Evidence of Insurability (EOI). Coverage options are shown below:
Coverage
$10,000 increments
$10,000 increments
$1,000 increments
6 months to 26 years — $10,000 maximum
Review Your Beneficiaries
Be sure to review your beneficiaries for your Life and AD&D Insurance during enrollment to ensure they’re up to date.
- You can change your beneficiary(ies) at any time by logging in to Workday > Benefits > Change Beneficiary.
- If you do not have an account with Lincoln yet, go to lfg.com and register using the code ShakeShack.
Additional Information
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How much life insurance should I get?
It’s important to think about what expenses and income needs your dependents would have if something happened to you. To ensure they have the financial protection they need, consider daily expenses, mortgage payments and loans, and college tuition.
Need a hand calculating? Use Lincoln’s Life Insurance calculator to help you determine how much Life Insurance you may need to elect. For additional details on the plan, see the Benefits Summary on the Resources page.
Life Insurance Terms to Know
- Guarantee Issue (GI): the amount of coverage you can enroll in without providing EOI (see below). GI amounts only apply during the first 31 days following your initial eligibility period. You will only pay the premium for the GI amount until you are approved for your requested coverage amount.
- Evidence of Insurability (EOI): the information Lincoln will use to verify your good health when purchasing insurance. EOI is only needed when you are purchasing insurance amounts over the GI.
Voluntary Life Rates
Team Member and Spouse Rates per $1,000 of Coverage
Team Member and Spouse Rates per $1,000 of Coverage
Team Member and Spouse Rates per $1,000 of Coverage
Team Member and Spouse Rates per $1,000 of Coverage
Team Member and Spouse Rates per $1,000 of Coverage
Child Rate per $1,000 of Coverage
Enrolling in Voluntary Life
Status