Bean Automotive • 2024-2025 Benefits Guide
LIFE AND DISABILITY INSURANCE THE HARTFORD Basic & Voluntary Life Insurance Bean Automotive provides Employer Paid Life Insurance and AD&D to all full-time eligible associates in the amount of: z All Executive and Managers $25,000 z All Other Full-Time Benefit Eligible Associates and Technicians $15,000 Accidental Death and Dismemberment (AD&D) benefit amount will match your benefit amount. Benefits will reduce 65% at age 65 and will terminate at retirement. If you would like additional coverage, Voluntary Life and AD&D insurance is available to you, your spouse and your dependent children. You must enroll in coverage for yourself in order to cover your spouse or children. If you don’t enroll in Voluntary Life when it’s first available to you, or elect an amount over the Guaranteed Issue, you may be required to complete an Evidence of Insurability (EOI) form.
Insurance Coverage
Benefit Amount
Guarantee Issue
Other Benefits Included
Choice of $10,000 Increments
z
Accidental Death & Dismemberment (AD&D)
z
Not to exceed 6 times your annual salary
Up to $200,000 at initial enrollment
z
z
Voluntary Associate Life
Living Care/Accelerated Death Benefit
z
Maximum Amount $500,000
z
Choice of $5,000 Increments
z
Waiver of Premium
Not to exceed 100% of associate’s elected amount
z
z
Voluntary Spouse Life
Up to $50,000
z
Portability
z
Maximum Amount $200,000
z
Conversion
$10,000
Up to $10,000
Voluntary Child Life
z
z
z
Disability You have the opportunity to purchase Short-Term and/or Long-Term Disability. These plans give you income protection in the event you are ill or injured in a non-work related injury, and can’t come to work. If you don’t enroll in Disability coverage when it’s first available, you may be required to complete and an Evidence of Insurability (EOI) form.
Short-Term Disability Benefits
Long-Term Disability Benefits
Elimination Period
7 days
Elimination Period
180 days
Weekly Benefit
60% of weekly earnings
Monthly Benefit
60% of monthly earnings
Maximum Weekly Benefit $1,000
Maximum Monthly Benefit $6,000
The greater of your Social Security Normal Retirement Age or 3.5 years
Maximum Benefit Period 25 weeks
Maximum Benefit Period
Pre-Existing Period
3/6/12
Pre-Existing Period
3/12
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