Benefits for 2026
Life Insurance
SUMMARY OF COVERAGE
All benefit eligible Spear employees are provided employer-paid Basic Life and Basic Accidental Death & Dismemberment (AD&D) coverage. All eligible employees are automatically enrolled in Basic Life and Basic AD&D.
As an added benefit, Spear employees have the option to purchase additional coverage described on the table to the right.
Plan Features
Lincoln Basic Life and AD&D
Employee Benefit Amount
1x Base Annual Earnings
Maximum Benefit Amount
$50,000
AD&D Benefit
1x Base Annual Earnings
If disabled, insurance will continue until age 65 or no longer disabled.
Waiver of Premium
The following shows how much benefits are reduced at certain ages:
Age Band
Benefit Reduction
65
65%
70
50%
Plan Features
Lincoln Voluntary Life
Employees can choose different amounts of coverage between the minimum and maximum benefit amount. See plan documentation for more details. Maximum: Lesser of $500,000 or 5x Base Annual Earnings Guarantee Issue: $300,000
Employee Benefit Amount
Employee Benefit Amount
Maximum: $250,000 Minimum: $50,000
Accelerated Death Benefit
Maximum: $250,000 Guarantee Issue: $30,000
Spouse Life and AD&D
Child(ren) Life and AD&D
Maximum: $10,000
The following shows how much benefits are reduced at certain ages:
Age Band
Benefit Reduction
65
65%
70
40%
This booklet provides only a summary of your benefits. All services described within are subject to the definitions, limitations, and exclusions set forth in each insurance carrier or provider’s contract.
2026 Employee Benefit Guide
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