VOLUNTARY LIFE INSURANCE
VOLUNTARY LIFE INSURANCE The Company provides all active employees working 30 or more hours per week the option to purchase life insurance coverage through a group plan. The chart below provides an overview of the plan.
Voluntary Life Insurance
Increments of $10,000 up to the lesser of 5x annual salary or $500,000. Minimum of $10,000
Employee Life
Guarantee Issue
$100,000
Increments of $5,000 up to lesser of 100% of employee's amount or $100,000. Guarantee Issue - $30,000 Birth to less than 19 years (23 if full time student) 50% employee’s amount up to $10,000. At age 70, reduces by 33% of original amount, at age 75, reduces by 33% of in force amount. The reduced amounts will not be less than $20,000
Spouse Life
Dependent Life
Benefit Reduction Schedule
Waiver of Premium Benefit Included to the earlier of age 65, retirement or recovery Convertible Included Portable Enrollment Events Includes annual enrollment period
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