Voluntary Life and AD&D Insurance
Depending on your personal situation, basic life and AD&D insurance might not be enough coverage for your needs. CPIhealth provides you the option to purchase voluntary life and AD&D insurance. Voluntary Term Life and AD&D Insurance You can also choose to purchase additional Life insurance beyond what CPIhealth provides you thru Guardian. Voluntary Life coverage is 100% paid by the employee, and premiums are based on age, and the volume amount you choose. When determining how much life insurance you need, think about the expenses you may encounter now and through every stage of your life.
ELEGIBILITY – ALL ELIGIBLE EMPLOYEES
You must be actively working a minimum of 30 hours per week to be eligible for coverage. Tobeeligibleforcoverage, yourdependents mustbeabletoperform normalactivities, and not be confined (at home, in a hospital, or in any other care facility), and any child(ren) must be under age 26. Inorder for your spouse and/or child(ren) to be eligible for coverage, you must elect coverage for yourself.
Eligibility Requirement
Dependent Eligibility Requirement
Premium Payment
The premiums for this insurance are paid infull by you.
COVERAGE GUIDELINES
Covered Person
Minimum
Guaranteed Issue
Maximum
$500,000, in increments of $10,000, but no more than 7 times annual salary 100% of employee’s benefit, in increments of $5,000, up to $100,000 100% of employee’s benefit, in increments of $2,500, up to $10,000
7 times annual salary, up to $200,000 100% of employee’s benefit, up to $30,000
$10,000
For You
$5,000
Spouse
$2,500
Up to $10,000
Child(ren)
BENEFITS
Withinthecoverageguidelines defined above,youselecttheamount oflifeinsurance coverage you want. This plan includes the option to select coverage for your spouse and dependent child(ren).Child(ren) includethoseuptoage26.Intheeventofdeath,the benefitpaidwillbeequaltothebenefit amount after any agereductions lessanyliving care/accelerated death benefits previously paid under this plan. Foryou, your spouse and your dependent child(ren):The PrincipalSum amount isequal to the amount of the life insurance benefit. AD&D coverage is available if you or your dependents are injured ordieas a result of an accident, and the injury ordeath is independent ofsickness and allother causes. The benefit amount depends onthe type of loss incurred and is either all or a portion of the Principal Sum.
Life Insurance Benefit Amount
Accidental Death & Dismemberment (AD&D) Benefit Amount
FEATURES
75%oftheamountofthelifeinsurance benefitisavailabletoyouifterminally ill,notto exceed $375,000. If it is determined that you are totally disabled, your life insurance benefit will continue without payment of premium, subject to certain conditions.
Living Care/Accelerated Death Benefit
Waiverof Premium
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