Mid-America Apartments, L.P. provides this valuable benefit at no cost to you.
All active, full-time employees
Life and AD&D Insurance
Safeguard the most important people in your life. Think about what your loved ones may face after you’re gone. Term life insurance can help them in so many ways, like helping to cover everyday expenses, pay off debt, and protect savings. AD&D provides additional benefits if you die or suffer a covered loss in an accident. AT A GLANCE: • A cash benefit of one times Annual Earnings rounded to the next higher $1,000 (up to $500,000) to your loved ones in the event of your death, plus an additional cash benefit if you die in an accident • A cash benefit to you if you suffer a covered loss in an accident, such as losing a limb or your eyesight • Personalized Case Management – Dedicated Claims Examiner to actively guide you or your beneficiary through the Life claim process. • Includes LifeKeys® services, which provide access to counseling, financial, and legal support services. • TravelConnect ® services, which give you and your family access to emergency medical assistance when you ’ re on a trip 100+ miles from home You also have the option to increase your cash benefit by securing additional coverage at affordable group rates. See the enclosed optional life insurance information for details. ADDITIONAL DETAILS Conversion: You may be able to convert your group term life coverage to an individual life insurance policy if your coverage reduces or you lose coverage due to leaving your job or for other reasons outlined in the plan contract. Portability: You may be able to port your group term life coverage to a separate group term life insurance policy if your coverage reduces or you lose coverage due to leaving your job or for other reasons outlined in the plan contract. Leave of Absence/Continuation of Coverage: You may be able to continue your coverage if you leave your job for reasons including and not limited to Family and Medical Leave, Lay-off, Leave of Absence or Leave of Absence Due to Disability. Benefit Reduction: When you reach age 70 , life benefits reduce to 65% of the original amount. When you reach age 75 , life benefits reduce to 50% of the original amount.
For complete benefit descriptions, limitations, and exclusions, refer to the certificate of coverage.
Mid-America Apartments, L.P. Benefits At-A-Glance All active, full-time employees
Employee Life and AD&D
One, two, three, four or five times Annual Earnings rounded up to the nearest $1,000
Optional Life and AD&D Insurance
Coverage Options
Maximum coverage amount
This amount may not exceed $500,000
Guaranteed Life coverage amount $300,000 AD&D coverage provides a cash benefit to the beneficiary/beneficiaries you name if you die in an accident, or to you if you suffer a covered loss in an accident, such as losing a limb or your eyesight Dependent Spouse Life and AD&D The amount of Dependent Life Insurance coverage cannot be greater than 50% of the employee benefit. Coverage Options Increments of $5,000 Maximum coverage amount This amount may not exceed $250,000
The Lincoln Term Life Insurance Plan: • Provides a cash benefit to your loved ones in the event of your death • Features group rates for Mid- America Apartments, L.P. employees • Includes LifeKeys ® services, which provide access to counseling, financial, and legal support services • Also includes TravelConnect ® services, which give you and your family access to emergency medical assistance when you’re on a trip 100+ miles from home The Lincoln AD&D Insurance Plan: • Provides a cash benefit to your loved ones if you die in an accident • Provides a cash benefit to you if you suffer a covered loss in an accident • Features group rates for Mid- America Apartments, L.P. employees
Guaranteed Life coverage amount
$50,000
AD&D coverage provides a cash benefit to you should your Dependent Spouse die in an accident or suffer a covered loss in an accident, such as losing a limb or eyesight.
Dependent Child(ren) Life and AD&D Live Birth, but under 26 years
Increments of $5,000
Maximum coverage amount This amount may not exceed $15,000 AD&D coverage provides a cash benefit to you should your Dependent Child(ren) die in an accident or suffer a covered loss in an accident, such as losing a limb or eyesight.
Lincoln Financial Group
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What your benefits cover Employee Coverage
Guaranteed Life Insurance Coverage Amount • Initial Open Enrollment: When you are first offered this coverage, you can choose a coverage amount not to exceed $300,000 without providing evidence of insurability. • Annual Limited Enrollment/Family Status Change: If you are a continuing employee, you can increase your coverage amount by one level without providing evidence of insurability. If you select coverage in an amount higher than this number, you will be required to submit evidence of insurability. If you have been previously denied coverage, you will be required to submit evidence of insurability. • If you decline this coverage now and wish to enroll later, evidence of insurability may be required and may be at your own expense. Maximum Insurance Coverage Amount • You can choose a coverage amount up to $500,000. Evidence of Insurability may be required for optional life coverage. See the Evidence of Insurability page for details. • When you reach age 70, your Optional Life and AD&D coverage amount will reduce to 65% of the original amount. When you reach age 75, life benefits reduce to 50% of the original amount.
Dependent Spouse Coverage - You can secure term life insurance for your spouse if you select coverage for yourself.
Guaranteed Life Insurance Coverage Amount • Initial Open Enrollment: When you are first offered this coverage, you can choose a coverage amount up to $50,000 for your spouse without providing evidence of insurability. • Annual Limited Enrollment: If you are a continuing employee, you can increase the coverage amount for your spouse by one level without providing evidence of insurability. If you select coverage in an amount higher than this number, you will be required to submit evidence of insurability. If you have been previously denied coverage, you will be required to submit evidence of insurability. • If you decline this coverage now and wish to enroll later, evidence of insurability may be required and may be at your own expense. Maximum Insurance Coverage Amount • You can choose a coverage amount up to $250,000 for your spouse. Evidence of Insurability may be required. • When you reach age 70, your Dependent Spouse Optional Life and AD&D coverage amount will reduce to 65% of the original amount. When you reach age 75, life benefits reduce to 50% of the original amount. Dependent Child(ren) Coverage - You can secure term life insurance for your dependent children when you choose coverage for yourself . Coverage Amount • Enrollment: you can choose a coverage amount up to $15,000 if under 26 years.
Optional Life Insurance Benefits At-A-Glance 2
Additional Plan Benefits Included with Life Coverage Accelerated Death Benefit: Enables you to receive a portion of your policy death benefit while you are living if diagnosed with a terminal illness. Please note that the receipt of an accelerated death benefit may be taxable. A covered employee should consult their tax advisor. Waiver of Premium: is a provision that allows you to not pay premiums during a period of disability that has lasted for a particular length of time. Conversion: If all or part of your optional and dependent life coverage ends, you may convert the amount of coverage you had under the group policy to an individual life insurance policy without medical evidence. Portability: If all or part of your optional and optional dependent life coverage ends, you may continue all or part of the amount that ends, less any amounts converted to an individual policy. Portable group term life insurance is not available if coverage ends because the group policy terminates.
Included
Included
Included
Included
This is not intended as a complete description of the insurance coverage offered. Controlling provisions are provided in the policy, and this summary does not modify those provisions or the insurance in any way. This is not a binding contract. A certificate of coverage will be made available to you that describes the benefits in greater detail. Refer to your certificate for your maximum benefit amounts. Should there be a difference between this summary and the policy, the policy will govern. LifeKeys ® services are provided by ComPsych® Corporation, Chicago, IL. TravelConnect® travel assistance services are provided by On Call International, Salem NH. On Call International must coordinate and provide all arrangements in order for eligible services to be covered. ComPsych® and On Call International are not Lincoln Financial Group companies and Lincoln Financial Group does not administer these Services. Each independent company is solely responsible for its own obligations. Coverage is subject to contract language that contains specific terms, conditions, and limitations. Group insurance products and services described herein are issued by The Lincoln National Life Insurance Company, Fort Wayne, IN. The Lincoln National Life Insurance Company does not solicit business in New York, nor is it licensed to do so. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations. Benefit Exclusions Like any insurance, this term life and AD&D insurance policy does have exclusions. For Life Coverages: A suicide exclusion may apply. A complete list of benefit exclusions is included in the policy. State variations apply. For AD&D coverages : Benefits will not be paid if death or dismemberment occurs as the result of: • War, declared or undeclared, or any act of war • Intentionally self-inflicted injuries, suicide, or suicide attempt while sane or insane • Active Participation in a riot • Committing or attempting to commit a felony or misdemeanor • Disease, bodily or mental illness (or medical or surgical treatment thereof) • Infections, except septic infections of and through a visible wound • Controlled Substances voluntarily taken, ingested or injected, unless prescribed or administered by a Physician • Serving on full-time active duty in the Armed Forces of any country or international authority. • The presence of alcohol in the Covered Person’s blood which raises the presumption that the Covered Person was under the influence of alcohol and contributed to the cause of the accident. *A complete list of benefit exclusions and descriptions are included in the policy. State variations apply.
©2021 Lincoln National Corporation LCN-3750761-090821 GP-OPLAD-FLI001_Z01
Optional Life Insurance Benefits At-A-Glance 3
Monthly Optional Life Insurance Premium Calculate Your Premium.
Calculate Your Cost Use the appropriate rate provided in the tables to the left to calculate your cost based on the amount of coverage you select. The following example calculates the monthly cost for a 36-year-old employee who would like to purchase $100,000 in employee optional term life insurance coverage.
Group Life Rates for You
Employee Age Range
Life Premium Rate
0 - 29
$0.070 $0.080 $0.110 $0.160 $0.250 $0.430 $0.780 $1.170 $2.207 $3.440
30 - 34 35 - 39 40 - 44 45 - 49 50 - 54 55 - 59 60 - 64 65 - 69
Calculation Example
Example
You
Using the table above, enter the rate that corresponds with your age. Enter the desired coverage amount in dollars. Enter the desired coverage amount in increments of $1,000. To calculate, divide the coverage amount by $1,000. Calculate the monthly cost. Multiply Step 1 by Step 3.
Step 1
$0.110
Step 2
$100,000
Step 3
100
70 +
Step 4
$11.00
Note: Rates are subject to change and can vary over time.
Group AD&D Rates for You
AD&D Premium Rate $0.020
Please see prior page for product information. Optional Life Insurance Premium Calculation
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Calculate Your Dependent Spouse Cost Use the appropriate rate provided in the tables to the left to calculate your cost based on the amount of coverage you select. The following example calculates the monthly cost for a 36-year-old employee who would like to purchase $100,000 in spouse optional term life insurance coverage.
Group Life Rates for Your Spouse
Employee Age Range
Life Premium Rate
0 - 29
$0.070 $0.080 $0.110 $0.160 $0.250 $0.430 $0.780 $1.170 $2.207 $3.440
Calculation Example
Example
You
30 - 34 35 - 39 40 - 44 45 - 49 50 - 54 55 - 59 60 - 64 65 - 69
Using the table above, enter the rate that corresponds with your age. Enter the desired coverage amount in dollars. Enter the desired coverage amount in increments of $1,000. To calculate, divide the coverage amount by $1,000. Calculate the monthly cost. Multiply Step 1 by Step 3.
Step 1
$0.110
Step 2
$100,000
Step 3
100
Step 4
$11.00
70 +
Note: Rates are subject to change and can vary over time.
Group AD&D Rates for Your Spouse AD&D Premium Rate $0.030
Group Life and AD&D Rates for your Dependent Child(ren)
Child(ren) Life Premium Rate, per $1,000
Child(ren) AD&D Premium Rate, per $1,000
$0.120
$0.030
One affordable monthly premium covers all of your eligible dependent children.
Note: To be eligible for coverage, a spouse or dependent child cannot be confined on the date the increase or addition is to take effect, it will take effect when the confinement ends.
Please see prior page for product information. Optional Life Insurance Premium Calculation
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