Page 40 - SIH 2022 Re-Enrollment Guide
P. 40
SUPPLEMENTAL EMPLOYEE LIFE INSURANCE
You may select any of the life insurance options when you are irst eligible or as a new hire. Beneit amounts
between 1 and 4 times your base annual earnings, up to a maximum of $1,000,000 are available.* Medical
underwriting may be required. The Basic Life coverage amount is included in the $1,000,000 coverage
maximum for full-time employees. Eligible part-time employees may also elect this coverage.
If you purchase at least 1 time your salary when you are irst eligible, you can increase your life insurance one
step during re-enrollment each year without medical underwriting.
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
Supplemental Employee Life Insurance is insured
through New York Life Group Beneits Solution. January 1st coinciding with or next following the
date of the change. Increases and decreases in the
* This represents what the majority of employees are provided. amount of insurance because of changes in class or
earnings (if applicable) are efective on the date of
the change.
40
You may select any of the life insurance options when you are irst eligible or as a new hire. Beneit amounts
between 1 and 4 times your base annual earnings, up to a maximum of $1,000,000 are available.* Medical
underwriting may be required. The Basic Life coverage amount is included in the $1,000,000 coverage
maximum for full-time employees. Eligible part-time employees may also elect this coverage.
If you purchase at least 1 time your salary when you are irst eligible, you can increase your life insurance one
step during re-enrollment each year without medical underwriting.
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
Supplemental Employee Life Insurance is insured
through New York Life Group Beneits Solution. January 1st coinciding with or next following the
date of the change. Increases and decreases in the
* This represents what the majority of employees are provided. amount of insurance because of changes in class or
earnings (if applicable) are efective on the date of
the change.
40
