Life insurance is about taking care of your loved ones. If you financially support a partner, children, or another dependent, you need life insurance. We have options to help you protect the ones you love.

Am I eligible for coverage?

Benefit eligible team members are eligible for life insurance as of the first of the month following or coinciding with your date of hire and can make plan changes during open enrollment or due to a qualifying life event.

What are my plan options and what do they cost?

Basic Life Insurance:

Sleep Number automatically provides Basic Life and AD&D Insurance coverage at no cost to you through Prudential Insurance. The coverage is equal to 1x your annualized base pay according to your standard hours. Be sure to add beneficiaries during enrollment.

Optional Life Insurance:

In addition to your company-paid Basic Life and AD&D Insurance, you can choose to purchase Optional Life Insurance (100% team member paid) for you, your spouse or your child(ren). Questions regarding Evidence of Insurability forms should be directed to Unum at 1-866-779-1054.

Type of Coverage How Much Requirements
Team Member Optional Life Insurance $10,000 increments to the lesser of 5 times your annual salary or $500,000
  • At initial eligibility, amounts exceeding $200,000 are subject to Evidence of Insurability (EOI).
  • At Open Enrollment:
    • Increases to existing coverage over $40,000 require EOI.
    • Increases to current coverage that result in an annual election amount exceeding the Guarantee Issue amount of $200,000.
    • Newly elected coverage of any amount requires EOI.
  • All other increases require EOI.
Spouse Optional Life Insurance $5,000 increments to $250,000. Not to exceed 50% of your Team Member Optional Life coverage amount
  • To elect, you must have Team Member Optional Life.
  • At initial eligibility, amounts exceeding $50,000 are subject to EOI.
  • All increases or new enrollments after initial eligibility require EOI.
Child Optional Life Insurance $1,000 increments to $10,000
  • To elect, you must have Team Member Optional Life.
  • EOI is not applicable

The cost of the Team Member or Spouse Optional Life Insurance depends on the age of the team member, smoking status and the amount of insurance, as outlined below:

Team Member Team Member/Spouse Optional Life Monthly Rates Per $1,000
Age Smoker Rate Non-Smoker Rate
< 30 $0.096 $0.077
30-34 $0.106 $0.086
35-39 $0.144 $0.125
40-44 $0.221 $0.182
45-49 $0.374 $0.307
50-54 $0.624 $0.509
55-59 $1.018 $0.826
60-64 $1.267 $1.037
65-69 $2.198 $1.795
70-74 $3.571 $2.918
75+ $5.491 $4.493

Note: Beginning at age 65, your coverage will decrease from the original benefit amount every 5 years.

Child Optional Life
Monthly Rate Per $1,000 of coverage $0.124

Having trouble deciding or need more information?

Don’t worry, we have many resources to help you through this important decision: