PG. 16
BASIC LIFE & DISABILITY
BASIC LIFE AND AD&D BENEFIT To protect you and your family from the unexpected, we provide basic life and AD&D insurance for you and dependent life insurance for your spouse and children through Voya, at no cost to you. The basic life and AD&D benefit is a flat $50,000 benefit for all full-time associates and $5,000 for dependents, and it is not based on your years of service!
Averitt-Provided Life and AD&D
Eligible after 30 day waiting period Associate Basic Life Insurance
$50,000 for all full time associates
Associate Basic AD&D Insurance
Amount equal to basic life coverage
Dependent Life Insurance
$5,000 for spouse and each dependent child (birth to 26 years)
SHORT-TERM DISABILITY COVERAGE Short-term disability coverage protects your income and security at no cost to you after one year of service. This benefit ensures that you continue to receive a portion of your income for up to 26 weeks in the event of a disability.
Averitt-Provided Short-Term Disability Eligible after one year of full-time service
Benefits Begin
On the 15th day of disability
Year 1 — no benefit Year 2 — 40% Year 3 — 45% Year 4 — 50% Year 5 — 55% Year 6+ — 60%
Plan pays a percentage of your weekly earnings
Benefits continue
Up to 26 weeks
See Summary Plan Description (SPD) for further details.
WHO’S IN YOUR ORBIT? Take a moment during annual enrollment to check that your beneficiaries are correct.
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