Pavement Restoration 2019

BASIC LIFE AND AD&D & VOLUNTARY LIFE INSURANCE

BASIC LIFE INSURANCE Pavement Restoration provides life insurance to all active full time employees at no cost to the employee. The chart below provides an overview of the plan.

Basic Life Insurance

Employee Benefit Amount

$15,000

35% at age 65 60% at age 70 75% at age 75

Age Reduction Schedule

Included Equal to basic life

Accidental Death & Dismemberment (AD&D)

VOLUNTARY LIFE INSURANCE

Pavement Restoration provides all active employees working 30 or more hours per week the option to purchase life insurance coverage through a group plan, at the employee’s cost. The chart below provides an overview of the plan. Please note that anyone enrolling outside of their initial open enrollment period is considered a late entrant and will be subject to medical underwriting.

Voluntary Life Insurance

Employee Life

Increments of $25,000 up to $200,000

Employee Guarantee Issue

$100,000 for timely entrants

Spouse Life

Increments of $5,000 up to 100% of employee's amount or $100,000

Spouse Guarantee Issue

$25,000 for timely entrants

10% of employee’s amount not to exceed $10,000 (Coverage limits based on child age.)

Dependent Life

VOLUNTARY LIFE - Weekly

$50,000 Policy (Employee) Election Amount

$75,000 Policy (Employee) Election Amount

$100,000 Policy (Employee) Election Amount

$25,000 Policy (Employee) Election Amount

Age

Employee

Spouse

Child

Employee

Spouse

Child

Employee

Spouse

Child

Employee

Spouse

Child

<30

$0.64

$0.32

$0.09

$1.27

$.64

$.19

$1.90

$.95

$.28

$2.54

$1.27

$.37

30-34

$0.69

$0.35

$0.09

$1.39

$.69

$.19

$2.08

$1.04

$.28

$2.77

$1.39

$.37

35-39

$0.75

$0.38

$0.09

$1.50

$.75

$.19

$2.25

$1.13

$.28

$3.00

$1.50

$.37

40-44

$1.21

$0.61

$0.09

$2.42

$1.21

$.19

$3.64

$1.82

$.28

$4.85

$2.42

$.37

45-49

$2.02

$1.01

$0.09

$4.04

$2.02

$.19

$6.06

$3.03

$.28

$8.08

$4.04

$.37

50-54

$3.12

$1.56

$0.09

$6.23

$3.12

$.19

$9.35

$4.67

$.28

$12.46

$6.23

$.37

55-59

$4.79

$2.39

$0.09

$9.58

$4.79

$.19

$14.37

$7.18

$.28

$19.15

$9.58

$.37

60-64

$6.92

$3.46

$0.09

$13.85

$6.92

$.19

$20.77

$10.39

$.28

$27.69

$13.85

$.37

65-69

$10.96

$5.48

$0.09

$21.92

$10.96

$.19

$32.89

$16.44

$.28

$43.85

$21.92

$.37

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