Page 16 - 2020 Intertek Benefits Enrollment
P. 16
Life Insurance
Basic Life Insurance
Intertek provides basic life insurance with accidental death and
dismemberment insurance at no cost to you.
Basic Life Benefit
X Two times your base annual earnings up to a maximum of $500,000
X You may opt out of this level of coverage and elect a lat $50,000
beneit to avoid imputed income
X A lat payment of $5,000 for your spouse or same-sex domestic
partner
X A lat payment of $2,000 for dependent children
X Guaranteed issue
Voluntary Life Insurance
You can also purchase voluntary life
coverage for your spouse or same- Intertek ofers you the ability to purchase voluntary life insurance at
sex domestic partner if you’ve also competitive group rates. Voluntary Life Insurance can be purchased from
purchased voluntary life coverage 1 to 6 times your base annual salary.
for yourself. This coverage is
available in $10,000 increments not Evidence of Insurability (EOI) or proof of good health is required under
to exceed the lesser of 50% of your the following circumstances.
employee election or $120,000.
X Late entrant: you have previously waived the opportunity to elect this
Age Rate per $1,000 of
Band Beneit Coverage coverage and are now electing coverage for the irst time
18–29 $0.056 X Current participant: you currently have this coverage and are
30–34 $0.064 requesting an increase to your current coverage amount
35–39 $0.096 X Newly eligible: you have never been ofered this coverage previously
40–44 $0.144
45–49 $0.224 or waived this coverage previously and you are requesting over the
50–54 $0.368 guaranteed issue amount of 3× earnings or $250,000, whichever is
55–59 $0.592 less
60–64 $0.728 Online Will Preparation
65+ $1.160
Take advantage of online will preparation services through Lincoln
Optional life insurance rates for Financial to complement your life insurance coverage. This is a secure
you and your spouse or same-sex
domestic partner. Spouse rates are and convenient way to create legally binding, state-speciic wills and
based on spouse’s age band. other personal legal documents online. Visit workhealthlife.com/mlassist
and use the username “mllife” to get started.
16 2020 Benefits Guide
Basic Life Insurance
Intertek provides basic life insurance with accidental death and
dismemberment insurance at no cost to you.
Basic Life Benefit
X Two times your base annual earnings up to a maximum of $500,000
X You may opt out of this level of coverage and elect a lat $50,000
beneit to avoid imputed income
X A lat payment of $5,000 for your spouse or same-sex domestic
partner
X A lat payment of $2,000 for dependent children
X Guaranteed issue
Voluntary Life Insurance
You can also purchase voluntary life
coverage for your spouse or same- Intertek ofers you the ability to purchase voluntary life insurance at
sex domestic partner if you’ve also competitive group rates. Voluntary Life Insurance can be purchased from
purchased voluntary life coverage 1 to 6 times your base annual salary.
for yourself. This coverage is
available in $10,000 increments not Evidence of Insurability (EOI) or proof of good health is required under
to exceed the lesser of 50% of your the following circumstances.
employee election or $120,000.
X Late entrant: you have previously waived the opportunity to elect this
Age Rate per $1,000 of
Band Beneit Coverage coverage and are now electing coverage for the irst time
18–29 $0.056 X Current participant: you currently have this coverage and are
30–34 $0.064 requesting an increase to your current coverage amount
35–39 $0.096 X Newly eligible: you have never been ofered this coverage previously
40–44 $0.144
45–49 $0.224 or waived this coverage previously and you are requesting over the
50–54 $0.368 guaranteed issue amount of 3× earnings or $250,000, whichever is
55–59 $0.592 less
60–64 $0.728 Online Will Preparation
65+ $1.160
Take advantage of online will preparation services through Lincoln
Optional life insurance rates for Financial to complement your life insurance coverage. This is a secure
you and your spouse or same-sex
domestic partner. Spouse rates are and convenient way to create legally binding, state-speciic wills and
based on spouse’s age band. other personal legal documents online. Visit workhealthlife.com/mlassist
and use the username “mllife” to get started.
16 2020 Benefits Guide
