Life and AD&D
Basic Life & AD&D
$30,000 **The Basic Life & AD&D insurance is paid 100% by JL Marine Systems** After age 65 there is a reduction on the basic life amount. Voluntary Life Insurance
Employee Life
Maximum Employee Life
Increments of $10,000 to a maximum of $300,000
Employee Guarantee Issue $150,000 Spouse Life
Increments of $5,000 up to lesser of 100% of employee's amount or $250,000.
100% of employee’s amount or $25,000, whichever is less (for timely entrants/ newly eligible employees)
SpouseGuarantee Issue
Dependent Life
$10,000
AD&D
Included – Equal to life amount
At age 65: 67% reduction At age 70: 34% reduction
Benefit Reduction Schedule
Disability
Short Term Disability JL Marine Systems offers short-term disability (STD) insurance to all active full-time employees. The benefit begins on the 8 th day of accident or sickness and pays 60% of your weekly earning up to a maximum of $1,500. The benefit will pay up to a maximum of 12 weeks. This coverage is 100% paid by JL Marine Systems.
Long Term Disability JL Marine Systems offers long term disability insurance to all active full-time employees. The benefit starts to pay once the short-term disability benefit is exhausted, or after 90 days from the accident or sickness. The benefit pays 60% of your monthly earnings to a maximum of $9,000. The benefit can continue until you are no longer disabled or SSNA (Social Security Normal Retirement Age). This coverage is 100% paid by JL Marine Systems.
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