Page 24 - Busey 2022 Benefits Guide
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Voluntary Spouse Life Voluntary Short Term Disability
Insurance (Associate Paid)
(Associate Paid) Voluntary short term disability (STD) provides you
Once you elect coverage for yourself, you can elect with a percentage of your weekly income while
voluntary life insurance coverage for your spouse. you are out of work following a non-work related
You can elect up to $250,000 not to exceed 50% of accident or illness. You may purchase STD coverage
your elected amount in $5,000 increments for your at competitive group rates. This beneit is ofered
Requested periods on bullet points spouse. The guaranteed issue amount for your spouse through Symetra. Busey ofers 2 STD options, the
is $100,000. EOI is required if you have previously Base and Buy-up option.
waived this coverage, are increasing your existing ■ Base Plan—Pays 60% beneit up to a maximum
coverage by more than $10,000, or are electing of $1,000 per week.
coverage greater than the guaranteed issue amount.
■ Buy-up Plan—Pays 66.67% beneit up to a
Voluntary Child(ren) Life maximum of $1,500 per week.
Insurance Please note, EOI will be required if you have
(Associate Paid) previously waived this coverage. For those associates
If you’ve elected coverage for yourself, voluntary child currently on the Base plan, EOI will not be required if
you switch to the Buy-up plan. Both plans are subject
life insurance is also available to purchase. Children to pre-existing condition rules, which are outlined in
are eligible for a lat $10,000 of coverage from birth the Certiicate of Insurance.
to age 19 or 26 if a full-time student.
Voluntary Dependent Life Long Term Disability
Insurance (Company Paid)
(Associate Paid) Long term disability (LTD) protects your family’s
inancial circumstances in the event of an illness or
In addition to the voluntary spouse and child(ren) injury by providing you with a percentage of your
life insurance, you can elect a lat $15,000 for your income while you are disabled. Busey provides
spouse and $10,000 for child(ren). You do not need to LTD at no cost to you. This beneit is insured
elect coverage for yourself in order to elect coverage through Symetra.
for your spouse and child(ren). EOI may be required
under certain circumstances. ■ Beneit Levels 2-5 are eligible for up to a
maximum monthly beneit of $12,500.
■ Beneit Levels 6-10 are eligible for up to a
maximum monthly beneit of $20,000.
Pre-disability earnings means your gross weekly rate of earnings as reported on the prior calendar year’s W-2 form from the
employer in efect just prior to the date disability begins, or for the period of employment if no W-2 form was received. If your
job title is Mortgage Originator or Financial Advisor and you have not yet received a full year’s W-2, your pre-disability earnings
will be based on an annual salary of $75,000. Once you have received a full year’s W-2, your pre-disability earnings will be based
on the prior year W-2. A full year’s W-2 will be deined as a full calendar year’s worth of work over the 12 months, January
through December.
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Insurance (Associate Paid)
(Associate Paid) Voluntary short term disability (STD) provides you
Once you elect coverage for yourself, you can elect with a percentage of your weekly income while
voluntary life insurance coverage for your spouse. you are out of work following a non-work related
You can elect up to $250,000 not to exceed 50% of accident or illness. You may purchase STD coverage
your elected amount in $5,000 increments for your at competitive group rates. This beneit is ofered
Requested periods on bullet points spouse. The guaranteed issue amount for your spouse through Symetra. Busey ofers 2 STD options, the
is $100,000. EOI is required if you have previously Base and Buy-up option.
waived this coverage, are increasing your existing ■ Base Plan—Pays 60% beneit up to a maximum
coverage by more than $10,000, or are electing of $1,000 per week.
coverage greater than the guaranteed issue amount.
■ Buy-up Plan—Pays 66.67% beneit up to a
Voluntary Child(ren) Life maximum of $1,500 per week.
Insurance Please note, EOI will be required if you have
(Associate Paid) previously waived this coverage. For those associates
If you’ve elected coverage for yourself, voluntary child currently on the Base plan, EOI will not be required if
you switch to the Buy-up plan. Both plans are subject
life insurance is also available to purchase. Children to pre-existing condition rules, which are outlined in
are eligible for a lat $10,000 of coverage from birth the Certiicate of Insurance.
to age 19 or 26 if a full-time student.
Voluntary Dependent Life Long Term Disability
Insurance (Company Paid)
(Associate Paid) Long term disability (LTD) protects your family’s
inancial circumstances in the event of an illness or
In addition to the voluntary spouse and child(ren) injury by providing you with a percentage of your
life insurance, you can elect a lat $15,000 for your income while you are disabled. Busey provides
spouse and $10,000 for child(ren). You do not need to LTD at no cost to you. This beneit is insured
elect coverage for yourself in order to elect coverage through Symetra.
for your spouse and child(ren). EOI may be required
under certain circumstances. ■ Beneit Levels 2-5 are eligible for up to a
maximum monthly beneit of $12,500.
■ Beneit Levels 6-10 are eligible for up to a
maximum monthly beneit of $20,000.
Pre-disability earnings means your gross weekly rate of earnings as reported on the prior calendar year’s W-2 form from the
employer in efect just prior to the date disability begins, or for the period of employment if no W-2 form was received. If your
job title is Mortgage Originator or Financial Advisor and you have not yet received a full year’s W-2, your pre-disability earnings
will be based on an annual salary of $75,000. Once you have received a full year’s W-2, your pre-disability earnings will be based
on the prior year W-2. A full year’s W-2 will be deined as a full calendar year’s worth of work over the 12 months, January
through December.
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