LIFE AND VOLUNTARY LIFE INSURANCE
LIFE INSURANCE
The company provides full-time employees Basic Life and Accidental Death and Dismemberment benefits at no cost to the employee.
VOLUNTARY LIFE INSURANCE
and you may not purchase more for your dependent(s) than you purchase for yourself. Guaranteed Issue (GI) is limited to employees in their New Hire eligibility window. Evidence of Insurability (EOI) will be required for newly elected amounts above the GI or for elections at Annual Enrollment. Rates are age-banded and based on the amount of coverage elected. Benefits begin to reduce at age 65. You may purchase additional life insurance for yourself, your spouse, or your child(ren). You must purchase coverage for yourself in order to purchase coverage for a dependent,
The voluntary life benefit is in addition to the basic life coverage the company provides. The voluntary life plan is 100% employee paid.
Employee
Increments
Available in $10,000 increments
Maximum Benefit
$300,000
Guarantee Issue
$150,000
Spouse
Increments
Available in increments of $5,000
Maximum Benefit
$150,000
Guarantee Issue
$30,000
Children (birth to age 26) Available if the employee or spouse is insured for voluntary coverage
Maximum Benefit
$10,000
Guarantee Issue
$10,000
14 The Concrete Company Benefit Guide |
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