Basic Life, Basic AD&D, STD & LTD
Eligible Employees Include: Full-Time Employees
A life insurance policy is a contract with an insurance company. In exchange for premium payments, the insurance company provides a lump-sum payment, known as a death benefit, to beneficiaries upon the insured's death. The rider covers the unintentional death or dismemberment of the insured. Dismemberment includes the loss of, or the loss of use of, body parts or functions (e.g., limbs, speech, eyesight, or hearing).
Basic Life Insurance
Employer pays 100% of premium for Basic Life
Benefit: $50,000
Coverage decreases incrementally beginning at age 70
Eligible Employees Include: Full-Time Employees
Basic Accidental Death & Dismemberment Insurance
Employer pays 100% of premium for Basic Life
Benefit: $50,000
Coverage decreases incrementally beginning at age 70
Income Benefit
60% of Weekly Earnings
Disability benefits protect your income during a period in which you are unable to work because of an illness or accident not related to your job.
Voluntary Short-Term Disability Benefits
8 th or 15 th day of disability
Benefits Begin
Maximum Weekly Benefit
$1,385
Maximum Benefit Period
13 weeks
Employee pays 100% of premium for Short-Term Disability
Income Benefit
66.67% of Monthly Earnings
Disability benefits protect your income during a period in which you are unable to work because of an illness or accident not related to your job.
Long-Term Disability Benefits
91 st day of disability
Benefits Begin
Maximum Monthly Benefit
$15,000
Maximum Benefit Period
To Normal Social Security Retirement Age (age 65-67)
Employer pays 100% of premium for Long-Term Disability
$10,000
Benefit Increments
Voluntary Life and AD&D Insurance
Benefit Maximum
$500,000 or 5x earnings
Employees pay 100% of the premiums for Voluntary Benefits.
EMPLOYEE BENEFIT
Guarantee Issue
$100,000 Premiums are based on your benefit choice and your age.
SPOUSE BENEFIT
Benefit Amount
$5,000 up to $250,000
CHILD(REN) BENEFIT
Benefit Amount
$5,000 or $10,000
Evidence of Insurability is required for new enrollments in the plans or increases in benefit amount.
Page 11 | CREA, LLC | Plan Year 2024
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.
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