Page 23 - Busey 2022 Beneftits Guide
P. 23
2022 Benefits Guide
Life and Disability Insurance
Basic Life Insurance Voluntary Associate Life
(Company Paid) Insurance
Busey provides, at no cost to you, basic life with (Associate Paid)
accidental death and dismemberment insurance. If you would like to purchase additional life
This coverage ofers up to two times your beneit insurance to supplement your company paid
compensation to a maximum of $400,000, to your beneits, Busey ofers you the ability to purchase
beneiciaries in the event of your death. If you voluntary life insurance at competitive group rates
should die in an accident, the plan will pay an through Symetra.
additional AD&D beneit. This core life insurance
coverage is paid in full by Busey and is insured You have the option to elect the lesser of $500,000
through Symetra. or 5× your Beneit Compensation in $10,000
increments. The guaranteed issue amount is
$200,000.
Evidence of Insurability (EOI) or proof of good health
is required under the following circumstances.
■ Late entrant: you have previously waived the
opportunity to elect this coverage and are now
electing coverage for the irst time
■ Current participant: you currently have this
coverage and are requesting an increase to your
current coverage amount by more than $20,000
■ Newly eligible: you have never been ofered
this coverage previously and you are requesting
over the guaranteed issue amount
Beneficiary Information
During annual open enrollment, please use this time to
verify your life insurance beneiciary information.
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Life and Disability Insurance
Basic Life Insurance Voluntary Associate Life
(Company Paid) Insurance
Busey provides, at no cost to you, basic life with (Associate Paid)
accidental death and dismemberment insurance. If you would like to purchase additional life
This coverage ofers up to two times your beneit insurance to supplement your company paid
compensation to a maximum of $400,000, to your beneits, Busey ofers you the ability to purchase
beneiciaries in the event of your death. If you voluntary life insurance at competitive group rates
should die in an accident, the plan will pay an through Symetra.
additional AD&D beneit. This core life insurance
coverage is paid in full by Busey and is insured You have the option to elect the lesser of $500,000
through Symetra. or 5× your Beneit Compensation in $10,000
increments. The guaranteed issue amount is
$200,000.
Evidence of Insurability (EOI) or proof of good health
is required under the following circumstances.
■ Late entrant: you have previously waived the
opportunity to elect this coverage and are now
electing coverage for the irst time
■ Current participant: you currently have this
coverage and are requesting an increase to your
current coverage amount by more than $20,000
■ Newly eligible: you have never been ofered
this coverage previously and you are requesting
over the guaranteed issue amount
Beneficiary Information
During annual open enrollment, please use this time to
verify your life insurance beneiciary information.
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