Page 12 - Future Steps
P. 12
Age Reduction of Life and AD&D Insurance
Benefits
Life and AD&D benefits reduce Voluntary Life and AD&D Insurance
beginning at age 70. See
the Plan document for more Life and AD&D insurance can provide valuable inancial protection and GESM
details. offers you the opportunity to elect voluntary life and AD&D insurance for you
and your dependents. The plan is available at competitive group rates so you can
purchase and secure the inancial protection you need. Voluntary life and AD&D
insurance can be purchased in increments of $10,000 up to the lesser of ive times
your annual salary or $500,000.
In the event of your death, the life insurance policy helps provide a general safety
net for your beneiciaries. If your death is the result of an accident or if an accident
leaves you with certain debilitating injuries, you’ll be covered under our accidental
death and dismemberment insurance for the same amount.
If you die while covered by this plan, the beneit is paid to the beneiciary (or
beneiciaries) you designate. You can add or change your beneiciary(ies) at any time
on ADP’s employee self-service web portal at HRVerify@goodwilleasterseals.org.
You can also call 651.379.5800 with any questions regarding ADP employee self
service.
Evidence of Insurability
If you are newly eligible and have not previously waived your opportunity to
elect additional term life insurance, you can elect coverage up to the guaranteed
issue amounts without submitting evidence of insurability (EOI). If you are a late
entrant and have previously waived the opportunity to purchase additional term life
insurance, you will be required to submit EOI. EOI is required for life insurance
amounts which do the following.
X Exceed $150,000 for employees
X Exceed $30,000 for spouses
GESM
12
Benefits
Life and AD&D benefits reduce Voluntary Life and AD&D Insurance
beginning at age 70. See
the Plan document for more Life and AD&D insurance can provide valuable inancial protection and GESM
details. offers you the opportunity to elect voluntary life and AD&D insurance for you
and your dependents. The plan is available at competitive group rates so you can
purchase and secure the inancial protection you need. Voluntary life and AD&D
insurance can be purchased in increments of $10,000 up to the lesser of ive times
your annual salary or $500,000.
In the event of your death, the life insurance policy helps provide a general safety
net for your beneiciaries. If your death is the result of an accident or if an accident
leaves you with certain debilitating injuries, you’ll be covered under our accidental
death and dismemberment insurance for the same amount.
If you die while covered by this plan, the beneit is paid to the beneiciary (or
beneiciaries) you designate. You can add or change your beneiciary(ies) at any time
on ADP’s employee self-service web portal at HRVerify@goodwilleasterseals.org.
You can also call 651.379.5800 with any questions regarding ADP employee self
service.
Evidence of Insurability
If you are newly eligible and have not previously waived your opportunity to
elect additional term life insurance, you can elect coverage up to the guaranteed
issue amounts without submitting evidence of insurability (EOI). If you are a late
entrant and have previously waived the opportunity to purchase additional term life
insurance, you will be required to submit EOI. EOI is required for life insurance
amounts which do the following.
X Exceed $150,000 for employees
X Exceed $30,000 for spouses
GESM
12
