Page 38 - SIH 2022 Re-Enrollment Guide
P. 38
BASIC LIFE AND ACCIDENTAL DEATH AND
DISMEMBERMENT (AD&D)
Life insurance provides protection for your family in the event you are no longer able to provide for them.
At SIH, full-time employees are provided 1× your salary FREE as a Basic Life and Accidental Death and
Dismemberment Beneit.*
Benefit Reductions Changes in Amount of
X At age 70, the original beneit is reduced to 67% Insurance
X At age 75, the original beneit is reduced to 50% Increases and decreases in the amount of insurance
because of changes in age are efective on the
Basic Life and AD&D is insured through New York
Life Group Beneit Solutions. January 1st coinciding with or next following the
date of the change. Increases and decreases in the
* This represents what the majority of full-time employees are amount of insurance because of changes in class or
provided.
earnings (if applicable) are efective on the date of
the change.
Beneficiary Information
By naming a beneiciary, your life insurance beneit(s) is being passed on to those you want. Events such as marriage, birth/
adoption of children, divorce, or death may dramatically change the intent of how you would want your life insurance beneit
paid.
Some common beneiciary choices are:
X Primary beneiciary—the person or persons named will X Contingent beneiciary—if the primary beneiciary is
receive the beneit no longer living, the beneit is paid to this person
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DISMEMBERMENT (AD&D)
Life insurance provides protection for your family in the event you are no longer able to provide for them.
At SIH, full-time employees are provided 1× your salary FREE as a Basic Life and Accidental Death and
Dismemberment Beneit.*
Benefit Reductions Changes in Amount of
X At age 70, the original beneit is reduced to 67% Insurance
X At age 75, the original beneit is reduced to 50% Increases and decreases in the amount of insurance
because of changes in age are efective on the
Basic Life and AD&D is insured through New York
Life Group Beneit Solutions. January 1st coinciding with or next following the
date of the change. Increases and decreases in the
* This represents what the majority of full-time employees are amount of insurance because of changes in class or
provided.
earnings (if applicable) are efective on the date of
the change.
Beneficiary Information
By naming a beneiciary, your life insurance beneit(s) is being passed on to those you want. Events such as marriage, birth/
adoption of children, divorce, or death may dramatically change the intent of how you would want your life insurance beneit
paid.
Some common beneiciary choices are:
X Primary beneiciary—the person or persons named will X Contingent beneiciary—if the primary beneiciary is
receive the beneit no longer living, the beneit is paid to this person
38
