disability & Life insurance

GROUP LIFE AND ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE PROGRAM

LIFE INSURANCE
 

Employees who work 30 or more hours per week are covered for Life and AD&D (Accidental Death and Dismemberment) in the amount of one-time annual earnings, up to $80,000. Coverage becomes effective after 30 days of employment/eligibility. Benefits reduce by 35% at age 65; 50% at age 70; and terminate at retirement.

 

Dependent life insurance includes a $5,000 benefit for a spouse. Dependent children are covered for $500 from 14 days to 6 months and $5,000 from 6 months to age 19 (or to age 25 if a full-time student). Eligible dependents include natural, step, foster and legally adopted children.

 

Other Policy features: premium waiver, living benefit, conversion privilege, seat belt/airbag, increased benefit for accidental death.

(Please refer to the Certificate of Coverage for full details)

 

 

 

LONG TERM DISABILITY

 

Employees who work 30 or more hours per week are provided Long Term Disability income protection. Coverage becomes effective after 30 days of employment/eligibility. Benefits are equal to 60% of monthly earnings and are payable after completing a 90-day “elimination” period. The elimination period may be satisfied by days of total disability, partial disability, or any combination thereof. The maximum monthly benefit is $5,000, Pre-existing conditions are not covered during the first 12 months of coverage.

 

For disabilities beginning prior to age 62, benefits are paid until age 65. For disabilities at or after age 62, benefits are paid for a specific number of months as outlined in the Certificate of Coverage.

 

Other Policy features: partial disability, premium waiver, minimum benefit ($100), recurrent disability, conversion privilege, 3-month survivor benefit, Integration with other income.

 

(Please refer to the Certificate of Coverage for full details)