Page 11 - Acadia 2021 Benefits Guide Corporate
P. 11
Life and Accidental Death & Dismemberment
(AD&D) Insurance Plans
Basic Life & AD&D SUPPLEMENTAL LIFE
Acadia provides Basic Life/AD&D coverage at no cost to you. AND AD&D SCHEDULE AMOUNT
The employee life insurance beneit is 1½ times annual salary Increments of $10,000 10x salary
rounded to the next higher $1,000 to a maximum of $50,000. Employee or $500,000 max
The AD&D beneit pays a lump sum if you lose a limb or die in Spouse * Increments of $5,000
an accident. The maximum AD&D beneit will be equivalent 50% of Employee Approved Amount
to your basic life beneit. Children - Birth to 26 $10,000
Supplemental Life & AD&D Coverage GUARANTEE ISSUE AMOUNT
In addition to the company paid insurance, Acadia provides
you an opportunity to purchase Supplemental Life Insurance Employee $400,000
for yourself, spouse and children through payroll deductions. Spouse $50,000
Employees must enroll in order to elect coverage for their
spouse or child(ren). If you do not enroll in the Supplemental Children – Birth to 26 $10,000
Life when you are irst eligible, evidence of insurability may
be required on any amount if you decide to enroll during *Spouse rate is based on spouse’s age. Spouse coverage terminates at age 70.
future open enrollments. When electing the Supplemental Employee Voluntary Life – beneits begin reducing at age 70
Life, you are automatically enrolled in the Supplemental Spouse Voluntary Life – beneits begin reducing at age 65
AD&D Insurance for the same beneit amount. This will pay Supplemental Life & AD&D Coverage
in addition to Supplemental Life if the cause of death is an
accident or beneits will be paid for dismemberment. AGE BAND SUPPLEMENTAL LIFE & AD&D
RATE PER $1,000 (24 PAY PERIODS)
Life Insurance Guarantee Issue Less than 30 $0.040
Guarantee Issue is the amount of life insurance you can elect 30-34 $0.050
without answering any medical questions. Guarantee Issue 35-39 $0.060
is only available when you are newly beneit eligible. 40-44 $0.070
45-49 $0.110
If insurance is applied for beyond the initial enrollment period, 50-54 $0.175
medical evidence of insurability will always be required. For 55-59 $0.290
more information, please see “My Company Page” in UltiPro.
60-64 $0.425
Your Beneiciary 65-69* $0.580
It is important to name a beneiciary for your Life and AD&D 70+* $0.935
insurance. If there is not a beneiciary designated, your family Child Rate Flat Rate $0.40
could encounter delays and probate before receiving your Calculating Your Life Semi-Monthly Premium
beneits and this can be very time consuming and costly. It Example: $50,000/$1,000 x $0.060 (age 38) = $3.00 Semi-Monthly
is also important to keep your beneiciary designation up-
to-date. If you elect Supplemental Life Insurance for your Enter Amount Desired:
spouse or child(ren), you will automatically be the beneiciary.
Divide by $1,000:
Multiply by Age Band Rate from Table:
Your Semi-Monthly Premium:
Note: Amount cannot exceed Guaranteed Issue or Max Allowed
2021 Employee Beneits Guide | 11
(AD&D) Insurance Plans
Basic Life & AD&D SUPPLEMENTAL LIFE
Acadia provides Basic Life/AD&D coverage at no cost to you. AND AD&D SCHEDULE AMOUNT
The employee life insurance beneit is 1½ times annual salary Increments of $10,000 10x salary
rounded to the next higher $1,000 to a maximum of $50,000. Employee or $500,000 max
The AD&D beneit pays a lump sum if you lose a limb or die in Spouse * Increments of $5,000
an accident. The maximum AD&D beneit will be equivalent 50% of Employee Approved Amount
to your basic life beneit. Children - Birth to 26 $10,000
Supplemental Life & AD&D Coverage GUARANTEE ISSUE AMOUNT
In addition to the company paid insurance, Acadia provides
you an opportunity to purchase Supplemental Life Insurance Employee $400,000
for yourself, spouse and children through payroll deductions. Spouse $50,000
Employees must enroll in order to elect coverage for their
spouse or child(ren). If you do not enroll in the Supplemental Children – Birth to 26 $10,000
Life when you are irst eligible, evidence of insurability may
be required on any amount if you decide to enroll during *Spouse rate is based on spouse’s age. Spouse coverage terminates at age 70.
future open enrollments. When electing the Supplemental Employee Voluntary Life – beneits begin reducing at age 70
Life, you are automatically enrolled in the Supplemental Spouse Voluntary Life – beneits begin reducing at age 65
AD&D Insurance for the same beneit amount. This will pay Supplemental Life & AD&D Coverage
in addition to Supplemental Life if the cause of death is an
accident or beneits will be paid for dismemberment. AGE BAND SUPPLEMENTAL LIFE & AD&D
RATE PER $1,000 (24 PAY PERIODS)
Life Insurance Guarantee Issue Less than 30 $0.040
Guarantee Issue is the amount of life insurance you can elect 30-34 $0.050
without answering any medical questions. Guarantee Issue 35-39 $0.060
is only available when you are newly beneit eligible. 40-44 $0.070
45-49 $0.110
If insurance is applied for beyond the initial enrollment period, 50-54 $0.175
medical evidence of insurability will always be required. For 55-59 $0.290
more information, please see “My Company Page” in UltiPro.
60-64 $0.425
Your Beneiciary 65-69* $0.580
It is important to name a beneiciary for your Life and AD&D 70+* $0.935
insurance. If there is not a beneiciary designated, your family Child Rate Flat Rate $0.40
could encounter delays and probate before receiving your Calculating Your Life Semi-Monthly Premium
beneits and this can be very time consuming and costly. It Example: $50,000/$1,000 x $0.060 (age 38) = $3.00 Semi-Monthly
is also important to keep your beneiciary designation up-
to-date. If you elect Supplemental Life Insurance for your Enter Amount Desired:
spouse or child(ren), you will automatically be the beneiciary.
Divide by $1,000:
Multiply by Age Band Rate from Table:
Your Semi-Monthly Premium:
Note: Amount cannot exceed Guaranteed Issue or Max Allowed
2021 Employee Beneits Guide | 11
