Page 21 - Busey 2021 Annual Benefits Enrollment
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First Busey Corporation Benefits Guide
Life and Disability Insurance
Basic Life Insurance (Company Voluntary Associate Life
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 supplementary life
This coverage offers up to two times your beneit insurance in addition to your company paid beneits,
compensation to a maximum of $400,000 to your Busey offers you the ability to purchase voluntary life
beneiciaries in the event of your death. If you should insurance at competitive group rates through Symetra.
die in an accident, the plan will pay an additional
AD&D beneit. Associates have the option to elect the lesser of
If you die while covered by this plan, the beneit is paid $500,000 or 5× your Beneit Compensation in $10,000
increments. The guaranteed issue amount is $200,000.
to the beneiciary (or beneiciaries) you designate. This
core life insurance coverage is paid in full by Busey and Evidence of Insurability (EOI) or proof of good
is fully insured through Symetra. 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 offered 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 (Company Voluntary Associate Life
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 supplementary life
This coverage offers up to two times your beneit insurance in addition to your company paid beneits,
compensation to a maximum of $400,000 to your Busey offers you the ability to purchase voluntary life
beneiciaries in the event of your death. If you should insurance at competitive group rates through Symetra.
die in an accident, the plan will pay an additional
AD&D beneit. Associates have the option to elect the lesser of
If you die while covered by this plan, the beneit is paid $500,000 or 5× your Beneit Compensation in $10,000
increments. The guaranteed issue amount is $200,000.
to the beneiciary (or beneiciaries) you designate. This
core life insurance coverage is paid in full by Busey and Evidence of Insurability (EOI) or proof of good
is fully insured through Symetra. 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 offered 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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