Page 13 - 2018-19 US Tool Benefit Guide
P. 13
VOLUNTARY LIFE RETIREMENT
Employee Voluntary Life Insurance SAVINGS PLAN
You are eligible to purchase voluntary life insurance in increments of 401(K)
$25,000 up to $150,000. If you elect more than $150,000, you will be z All full-time and lex time
required to provide evidence of insurability (EOI). If you waived or were employees are eligible to enroll
denied coverage in the past, all amounts will be subject to EOI. in USTG’s 401(k) plan on the
irst of the month
Spouse and Dependent Voluntary Life Insurance z USTG matches 50% of the
If you elect voluntary life coverage for yourself, you can also elect a lat irst 8% of your pre-tax
$10,000 beneit for your spouse. A lat $500 beneit is available for a contributions
dependent child from birth to 14 days. A lat $2,500 beneit is available
for dependent children 15 days to age 23, or age 25 if they are a full-time
student.
Lawful spouses and legally dependent children who are unmarried and
inancially dependent upon parent or guardian to age 23, or age 25 if they
are a full-time student, are eligible for this coverage.
Guarantee Issue
If you are newly eligible and have not previously waived your opportunity
to elect coverage, you can elect up to the guaranteed issue amounts
without submitting evidence of insurability (EOI). If you are a late
entrant and have previously waived the opportunity to purchase additional
coverage, you may be required to submit EOI.
Weekly
Spouse Sample Employee Weekly Premium
Premium
$10,000 $25,000 $50,000 $100,000 $150,000
Under 30 $0.15 $0.37 $0.74 $1.48 $2.22
30–34 $0.18 $0.46 $0.92 $1.85 $2.77
35–39 $0.25 $0.63 $1.26 $2.52 $3.77
40–44 $0.42 $1.04 $2.09 $4.18 $6.27
45–49 $0.69 $1.72 $3.44 $6.88 $10.32
50–54 $1.06 $2.65 $5.31 $10.62 $15.92
55–59 $1.83 $4.58 $9.15 $18.30 $27.45
60–64 $3.20 $8.00 $16.00 $32.01 $48.01
65–69 $5.19 $12.98 $25.96 $51.92 $77.88
70–74 $7.64 $19.11 $38.22 $76.43 $114.65
US Tool Group 13
Employee Voluntary Life Insurance SAVINGS PLAN
You are eligible to purchase voluntary life insurance in increments of 401(K)
$25,000 up to $150,000. If you elect more than $150,000, you will be z All full-time and lex time
required to provide evidence of insurability (EOI). If you waived or were employees are eligible to enroll
denied coverage in the past, all amounts will be subject to EOI. in USTG’s 401(k) plan on the
irst of the month
Spouse and Dependent Voluntary Life Insurance z USTG matches 50% of the
If you elect voluntary life coverage for yourself, you can also elect a lat irst 8% of your pre-tax
$10,000 beneit for your spouse. A lat $500 beneit is available for a contributions
dependent child from birth to 14 days. A lat $2,500 beneit is available
for dependent children 15 days to age 23, or age 25 if they are a full-time
student.
Lawful spouses and legally dependent children who are unmarried and
inancially dependent upon parent or guardian to age 23, or age 25 if they
are a full-time student, are eligible for this coverage.
Guarantee Issue
If you are newly eligible and have not previously waived your opportunity
to elect coverage, you can elect up to the guaranteed issue amounts
without submitting evidence of insurability (EOI). If you are a late
entrant and have previously waived the opportunity to purchase additional
coverage, you may be required to submit EOI.
Weekly
Spouse Sample Employee Weekly Premium
Premium
$10,000 $25,000 $50,000 $100,000 $150,000
Under 30 $0.15 $0.37 $0.74 $1.48 $2.22
30–34 $0.18 $0.46 $0.92 $1.85 $2.77
35–39 $0.25 $0.63 $1.26 $2.52 $3.77
40–44 $0.42 $1.04 $2.09 $4.18 $6.27
45–49 $0.69 $1.72 $3.44 $6.88 $10.32
50–54 $1.06 $2.65 $5.31 $10.62 $15.92
55–59 $1.83 $4.58 $9.15 $18.30 $27.45
60–64 $3.20 $8.00 $16.00 $32.01 $48.01
65–69 $5.19 $12.98 $25.96 $51.92 $77.88
70–74 $7.64 $19.11 $38.22 $76.43 $114.65
US Tool Group 13
