Tishman Health & Welfare Benefits Guidebook

Life and AD&D Insurance

Life Insurance Coverage Specifics

⮞ For benefit purposes, coverage amounts are rounded to the next higher multiple of $1,000 if not already a multiple of $1,000. ⮞ The Basic Life Insurance minimum coverage amountfor eligible employees is $10,000; the maximum coverage amount is $1.5 million. The Guaranteed Issue amount for newly eligible employees is $700,000. Coverage amounts that exceed the Guaranteed Issue are subject to Evidence of Insurability. ⮞ The total combined maximum coverage amount for Basic and VoluntaryLife Insurance can be up to $2 million based upon the schedule of benefits that you qualify for. ⮞ The amount of Voluntary Life Insurance you elect for your dependents maynot exceed 100% of your benefit amount (i.e. the employee benefit amount). ⮞ Basic LifeInsuranceAgeReduction: At age 70, your Basic Life Insuranceamountreduces to 67% of the original amount and at age 75 the amount reduces to 33% of the original amount (i.e. the amount of coverage in place before the first reduction at age 70). Voluntary Life Insurance AgeReduction: At age 70, your Voluntary Life Insurance amount reduces to 65% of the original amount and at age 75 the amount reduces to 50% of the original amount.

⮞ Basic Life Insurance coverage in excess of $50,000 will be included as taxable income on your W-2.

⮞ Other Life Insurance Features – AcceleratedBenefits, Portability, and Conversion are all available according to the terms of the Life Policy with Unum. Please refer to your Certificate of Coverage for further details on these and other benefit provisions.

EVIDENCE OF INSURABILITY Evidence of Insurability (EOI) is an insurance company requirement that in most cases is satisfied by completing a formsupplied by Unum and answeringany questions that maybe presented to you. EOIis required as follows:

⮞ For Basic Life Insurance coverage that exceeds $700,000;

⮞ ForEmployeeandDependent Voluntary Life Insurancepurchasesthatexceed the GuaranteedIssue amounts ($70,000 for the employee and $25,000 for the spouse) during initial eligibility; ⮞ When you do not enroll in Voluntary Life Insurancecoverage within 31 days from your benefit eligibility date or applicable Qualifying Life Event;

⮞ Any increase in Voluntary Life Insurance coverage made outside of your initial eligibility period;

⮞ Any purchase of Dependent Voluntary Life Insurance made outside of the initial benefit eligibility date with the exception of applicable Qualifying Life Events.

Life insurance amounts requiring EOI do not become effective until approval is obtained from the insurer. In addition, deductions for Voluntary Life Insurance coverage requiring EOI are not taken from your paycheck until this approval is received.

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