Page 11 - Future Steps
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Life and Accidental Death 2017 Beneits Enrollment
& Dismemberment (AD&D) Naming a
Insurance Coverage Beneficiary
EPS provides basic life and AD&D insurance to all eligible employees. This coverage You must name a beneficiary
for your life insurance.
pays a beneit to your named beneiciary in the event of your death or certain You may change your
debilitating injuries. The life beneit is $50,000 and the AD&D beneit is $50,000, beneficiary at any time by
both are provided at no cost to you. logging on to the ADP Portal.
Beneficiary changes are
effective immediately upon
Please note this beneit is subject to age reduction schedule. designation. If you fail to name
a beneficiary, in the event of
Voluntary Life your death, your benefit will
be paid as set forth in the
insurance certificate.
If you would like to purchase voluntary life insurance in addition to your company
paid beneit, EPS offers you the ability to purchase voluntary life insurance at
competitive group rates. Voluntary life insurance can be purchased in increments of
$1,000 up to a maximum of 5x annual earnings or $500,000.
Enrolled employees can elect Spousal coverage up to 100 percent of your elected
beneit to a maximum of $500,000. You can also elect coverage for your child(ren)
which is the lesser of 100 percent of your coverage election amount to a maximum
of $10,000.
Please note this beneit reduces by 50 percent when you turn 70.
Newly eligible employees may elect up to the guarantee issue amount of $150,000
without completing evidence of insurability (EOI). Each annual enrollment moving
forward will continue to allow enrolled employees to increase their coverage any
number of units up to the guarantee issue without having to complete EOI. Any
amount of insurance applied for above the guarantee issue amount will require EOI.
Late entrants will also have to submit EOI for any amount of insurance moving
forward.
Guarantee Issue Amount
Employee $150,000
Spouse $50,000
Child(ren) (Ages 6 months—26 years) $10,000
Child(ren) (Live birth–less than 6 months) $1,000
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& Dismemberment (AD&D) Naming a
Insurance Coverage Beneficiary
EPS provides basic life and AD&D insurance to all eligible employees. This coverage You must name a beneficiary
for your life insurance.
pays a beneit to your named beneiciary in the event of your death or certain You may change your
debilitating injuries. The life beneit is $50,000 and the AD&D beneit is $50,000, beneficiary at any time by
both are provided at no cost to you. logging on to the ADP Portal.
Beneficiary changes are
effective immediately upon
Please note this beneit is subject to age reduction schedule. designation. If you fail to name
a beneficiary, in the event of
Voluntary Life your death, your benefit will
be paid as set forth in the
insurance certificate.
If you would like to purchase voluntary life insurance in addition to your company
paid beneit, EPS offers you the ability to purchase voluntary life insurance at
competitive group rates. Voluntary life insurance can be purchased in increments of
$1,000 up to a maximum of 5x annual earnings or $500,000.
Enrolled employees can elect Spousal coverage up to 100 percent of your elected
beneit to a maximum of $500,000. You can also elect coverage for your child(ren)
which is the lesser of 100 percent of your coverage election amount to a maximum
of $10,000.
Please note this beneit reduces by 50 percent when you turn 70.
Newly eligible employees may elect up to the guarantee issue amount of $150,000
without completing evidence of insurability (EOI). Each annual enrollment moving
forward will continue to allow enrolled employees to increase their coverage any
number of units up to the guarantee issue without having to complete EOI. Any
amount of insurance applied for above the guarantee issue amount will require EOI.
Late entrants will also have to submit EOI for any amount of insurance moving
forward.
Guarantee Issue Amount
Employee $150,000
Spouse $50,000
Child(ren) (Ages 6 months—26 years) $10,000
Child(ren) (Live birth–less than 6 months) $1,000
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