Page 7 - First Bank- Open Enrollment Guide 2015
P. 7
First Bank
Life, AD&D,
Life Insurance—Cigna Long Term
First Bank offers basic Life insurance through Cigna, at no cost to Disability,
eligible employees, at a level of one-times the employee’s annual Short Term
salary. In addition to basic Life insurance, the Bank also provides an Disability, and
Accidental Death and Dismemberment (AD&D) policy which pays Long Term
additional one-times the life value, or pays a portion of the life value, Care
should an accident cause death or the loss of limb.
You may purchase supplemental Life insurance at group rates through
the CIGNA Life program for yourself and eligible dependents.
Supplemental coverage may be purchased by employees at amounts up
to ive times their annual salary to a maximum of $500,000. Through
First Bank’s group plan, employees are guaranteed up to $150,000 in
coverage without completing evidence of insurability documents when
irst eligible. During open enrollment, if you are enrolled you may
increase the amount if insurance by $10,000 without completing an
evidence of insurability request form. For Life insurance coverage in
excess of $150,000, evidence of insurability must be completed and
coverage approved by Cigna before it can become effective. Employees
may cover spouses at one-half the dollar amount of coverage
purchased by the employee, and eligible children may be covered in
$2,500 increments from $2,500 to $10,000.
Accidental Death and Dismemberment (AD&D)—
Cigna
In addition to the AD&D coverage that comes with the Life insurance
above, First Bank offers a “stand-alone” AD&D insurance through
Cigna Insurance. You may purchase coverage in increments of $25,000,
to a maximum of $500,000 on yourself, and lesser amounts on your
spouse and eligible dependent children. This coverage is for accidents
only and does not pay beneits for loss due to sickness or disease.
7
Life, AD&D,
Life Insurance—Cigna Long Term
First Bank offers basic Life insurance through Cigna, at no cost to Disability,
eligible employees, at a level of one-times the employee’s annual Short Term
salary. In addition to basic Life insurance, the Bank also provides an Disability, and
Accidental Death and Dismemberment (AD&D) policy which pays Long Term
additional one-times the life value, or pays a portion of the life value, Care
should an accident cause death or the loss of limb.
You may purchase supplemental Life insurance at group rates through
the CIGNA Life program for yourself and eligible dependents.
Supplemental coverage may be purchased by employees at amounts up
to ive times their annual salary to a maximum of $500,000. Through
First Bank’s group plan, employees are guaranteed up to $150,000 in
coverage without completing evidence of insurability documents when
irst eligible. During open enrollment, if you are enrolled you may
increase the amount if insurance by $10,000 without completing an
evidence of insurability request form. For Life insurance coverage in
excess of $150,000, evidence of insurability must be completed and
coverage approved by Cigna before it can become effective. Employees
may cover spouses at one-half the dollar amount of coverage
purchased by the employee, and eligible children may be covered in
$2,500 increments from $2,500 to $10,000.
Accidental Death and Dismemberment (AD&D)—
Cigna
In addition to the AD&D coverage that comes with the Life insurance
above, First Bank offers a “stand-alone” AD&D insurance through
Cigna Insurance. You may purchase coverage in increments of $25,000,
to a maximum of $500,000 on yourself, and lesser amounts on your
spouse and eligible dependent children. This coverage is for accidents
only and does not pay beneits for loss due to sickness or disease.
7
