Life Insurance
Basic Group Life: $25,000 Insurance Plan-Employer Paid
Voluntary Life Benefits: Available with employer sponsored $25,000 Basic Group Life
Eligibility: All Active Employees working a minimum of 30 hours per week
Voluntary Life Amounts: Buy in $10,000 Increments
Voluntary Maximum Benefit: $500,000 or 5 Times Basic Annual Earnings. Base earnings calculated every Anniversary without Bonuses or Commisions. Overtime Excluded and extra Compensation Excluded
New Hire Special: Guarantee Issue Limit $130,000
Family Coverage: Spouse or Partner and Childrens coverage available.
Limitations and Exclusions
Evidence of Insurability: Late entrants and amounts over Guarantee Issue Amount require a short form health statement
Benefit Reduction: Age 65 the Plan reduces benefit by 35% Age 70 the plan reduces benefit by 50% Coverage ends at employment termination Suicide is not covered the first 2 years
Note: See Benefit Service Contract for a complete set of details.
For more details click here to submit a request for more information.