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Information provided is in summary
format. Any difference between the summary provided and
actual contract will be settled in favor of the contract.
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Eligibility
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You
are eligible for Life coverage if you
are an active employee working a minimum of 30 hours per
week
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Employee Voluntary Life/AD&D Amounts |
Employees may choose an amount in increments
of $10,000 to a maximum of the lesser of 5 times your
annual earnings or $500,000 |
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Evidence Required |
Evidence of
insurability is required for amounts over $50,000 |
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Dependent Spouse Voluntary
Life/AD&D Amounts |
Eligible spouses may
choose an amount in increments of $5,000, not to
exceed the employee's selected amount |
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Evidence Required |
Evidence of
insurability is required for amounts over $25,000 |
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Dependent Children Voluntary
Life/AD&D Amounts |
Eligible dependent
children may choose an amount in increments of $2,000,
not to exceed $10,000 |
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Evidence Required |
No evidence of
insurability required for dependent children enrolling
when initially eligible |
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Benefit
Reduction Formula |
Life/AD&D benefits reduce to 65% of the
original amount at age 70 and 50% of the original
amount at age 75 |
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Accelerated
Death Benefit
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If you become
terminally ill while you are insured by the plan, you
may request a benefit payment of up to 50% of your
life insurance benefit |
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Repatriation
Benefit |
Up to $5,000 |
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Seat
Belt Benefit |
An additional $10,000 benefit will be paid if the
death is the result of an auto accident and seatbelts
were properly being worn at the time |
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Air Bag |
An additional $5,000 benefit will be paid if the
death is the result of an auto accident, the auto was
equipped with airbags, and seatbelts were properly
being worn at the time |
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Education
Benefit: |
Benefit Amount per
Academic Term for which a Qualified Child is enrolled: |
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Each Qualified Child |
The
lesser of:
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12.5% of the Full Amount of the employee's accidental
death and dismemberment insurance; or
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$12,500 |
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Maximum Benefit Payments |
8 per lifetime |
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Maximum
Payment Amount |
$100,000 |
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Maximum Benefit Period |
6 years from the date
the first benefit payment has been made |
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Conversion
Privilege
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When your coverage
ends under the plan, you may be eligible to convert
your coverage to an individual life policy, without
evidence of insurability
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Portability |
When your coverage
ends under the plan, you may be eligible to port your
term life coverage, without evidence of insurability |
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Who
Pays for the Plan? |
The employee pays 100% of the cost of Additional
Life/AD&D coverage |
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Rates |
Click Here |
