Page 14 - NC OE Guide
P. 14
Voluntary Term Life and AD&D
Voluntary Term Life Insurance—NEW!
We recognize you and your family have speciic needs and our company paid life
insurance policy may not be enough to ensure your inancial security if your income
were suddenly lost. If necessary, we offer a voluntary life insurance option with
competitive group rates so you can purchase and secure the inancial protection you
need. Voluntary life insurance can be purchased in increments of $10,000 up to the
lesser of 5 times your annual salary or $500,000. As noted to the left, you may elect
up to $150,000 of coverage during this open enrollment period without answering
any medical questions.
Dependent Voluntary Life Coverage—NEW!
If you elect voluntary life coverage for yourself, you can also elect voluntary life
coverage for your spouse and dependent children. This coverage offers inancial
protection to you in the event of your covered family member’s death.
Coverage choices
X Voluntary spouse life insurance—increments of $5,000 up to $500,000
Note: you cannot elect spousal life insurance greater than your own total
additional life insurance value
X You must provide EOI if you elect spouse coverage in excess of $30,000
X Premium rates for spouse coverage are based on spouse’s age
X Voluntary child life insurance—increments of $2,000 up to $10,000 (coverage
from birth to age 6 months is limited to $1,000)
X If you elect coverage for your spouse during this initial offering, each year
at annual enrollment you may increase the amount of spouse life up to the
$30,000 guaranteed issue level without providing evidence of insurability
14
2015 Open Enrollment
Voluntary Term Life Insurance—NEW!
We recognize you and your family have speciic needs and our company paid life
insurance policy may not be enough to ensure your inancial security if your income
were suddenly lost. If necessary, we offer a voluntary life insurance option with
competitive group rates so you can purchase and secure the inancial protection you
need. Voluntary life insurance can be purchased in increments of $10,000 up to the
lesser of 5 times your annual salary or $500,000. As noted to the left, you may elect
up to $150,000 of coverage during this open enrollment period without answering
any medical questions.
Dependent Voluntary Life Coverage—NEW!
If you elect voluntary life coverage for yourself, you can also elect voluntary life
coverage for your spouse and dependent children. This coverage offers inancial
protection to you in the event of your covered family member’s death.
Coverage choices
X Voluntary spouse life insurance—increments of $5,000 up to $500,000
Note: you cannot elect spousal life insurance greater than your own total
additional life insurance value
X You must provide EOI if you elect spouse coverage in excess of $30,000
X Premium rates for spouse coverage are based on spouse’s age
X Voluntary child life insurance—increments of $2,000 up to $10,000 (coverage
from birth to age 6 months is limited to $1,000)
X If you elect coverage for your spouse during this initial offering, each year
at annual enrollment you may increase the amount of spouse life up to the
$30,000 guaranteed issue level without providing evidence of insurability
14
2015 Open Enrollment
