LIFE AND VOLUNTARY LIFE INSURANCE
LIFE INSURANCE PROVIDED BY UNUM The company provides full-time employees basic life and accidental death and dismemberment benefits at no cost to the employee. VOLUNTARY LIFE INSURANCE PROVIDED BY UNUM 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.
If you are actively at work at least 30 hours per week, you may apply for coverage for:
Choose from $10,000 to $500,000 in $10,000 increments, up to 5 times your earnings. You can get up to $150,000. This is the amount of coverage you can qualify for with no medical underwriting. Get up to $500,000 of coverage in $5,000 increments. Spouse coverage cannot exceed 100% of the coverage amount you purchase for yourself. Your spouse can get up to $30,000 with no medical underwriting, if eligible (see delayed effective date). Get up to $10,000 of coverage in $2,000 increments if eligible (see delayed effective date). One policy covers all of your children until their 19th birthday - or until their 26th birthday if they are full-time students. The maximum benefit for children live birth to 6 months is $1,000.
You:
Your spouse:
Your children:
WHO CAN GET ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) COVERAGE?
Get up to $500,000 of AD&D coverage for yourself in $10,000 increments to a maximum of 5 times your earnings.
You:
Get up to $500,000 of AD&D coverage for your spouse in $5,000 increments, if eligible (see delayed effective date).
Your spouse:
Your children:
Get up to $10,000 of coverage for your children in $2,000 increments if eligible (see delayed effective date).
NO MEDICAL UNDERWRITING IS REQUIRED FOR AD&D COVERAGE.
14 | Foley Products Company Benefit Guide
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