Rag & Bone - 2023 Benefit Guide

Life/AD&D Insurance Coverage (employer-paid) Administered by Prudential

Eligible employees are automatically enrolled for $50,000 of Life and Accidental Death & Dismemberment (AD&D) insurance. This benefit is sponsored by rag & bone. Beneficiaries: Employees can designate/change beneficiaries at any time through the ADP portal.

Age Reduction: Employees who are age 65 or over will receive a reduced benefit.

Age 65 to 69 – coverage reduced by 65%

Age 70 and over - coverage reduced by 50%

Optional Life/ AD&D Insurance Coverage

You may purchase Optional Life and Accidental Death & Dismemberment (AD&D) insurance for yourself, spouse/domestic partner and/or child(ren). Optional Life and AD&D insurance are bundled together and cannot be purchased separately. Premiums are taken through Payroll deductions on a post-tax basis.

Age reductions apply to coverage for employees and spouse/domestic partners.

Life / AD&D Coverage

Who can be covered

Non-Medical Limit (NML)* Maximum Coverage Amount

Evidence of Insurability (EOI) *

Employee

$300,000 $20,000

$500,000 $500,000*

Required for coverage over NML Required for coverage over NML

Spouse/Domestic Partner

Child (ren)

N/A

$20,000

N/A

* NML - Guaranteed issue amount of insurance which does not require an EOI * Spouse/Domestic Partner coverage – may not to exceed the Employee coverage amount * Evidence of Insurability (EOI) is a health questionnaire that helps your insurance carrier determine whether you qualify for new coverage.

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