LIFE AND VOLUNTARY LIFE INSURANCE
LIFE INSURANCE PROVIDED BY PRUDENTIAL The Company provides full-time employees basic life and accidental death and dismemberment benefits at no cost to the employee. For a nominal cost to the employee, $2,000 per dependent can be purchased. Ask HealthAdvocate for more information.
VOLUNTARY LIFE INSURANCE PROVIDED BY PRUDENTIAL You may purchase additional life insurance for yourself, your spouse, or your child(ren). You must purchase coverage for yourself order to purchase coverage for a dependent, 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. The voluntary life benefit is in addition to the basic life coverage the Company provides. The voluntary life plan is 100% employee paid. Employee • Available in $5,000 increments • Minimum benefit is $10,000 • Maximum benefit is $300,000 • Guaranteed Issue (GI) Amount: up to age 65: $100,000. Evidence of Insurability (EOI) is required for any amount above the GI amount Spouse • Available in increments of $5,000, up to 100% of employee’s life amount • Maximum benefit is $150,000 • Guaranteed Issue (GI) Amount: up to age 65: $30,000. Evidence of Insurability (EOI) is required for any amount above the GI amount
Children • Available if the employee or spouse is insured for voluntary coverage • $10,000 (birth to age 26) • Guaranteed Issue (GI) Amount: $10,000
17 The Concrete Company Benefit Guide |
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