Page 17 - Nortek California Employee Guide
P. 17
Nortek
Evidence of Insurability Disability Insurance
Employees will be allowed to elect coverage up to $300,000 for the Salary Continuation and Long
1/1/2015 election without submitting evidence of insurability. This is a Term Disability (LTD)
one-time offering. Nortek’s Salary Continuation Plan
and Long Term Disability Plan (LTD)
Going forward, you must provide Evidence of Insurability (EOI) and can replace some of your income if
be approved by The Standard if you become ill or injured and cannot
X You are newly hired and elect Optional Term Life Insurance work. You are automatically covered
coverage in excess of $300,000 for the Salary Continuation Plan and
X You did not elect Optional Term Life previously and want to elect the LTD Insurance at no cost to you.
this coverage during Beneits Open Enrollment Your
Disability Coverage * Cost of
If Evidence of Insurability applies to you, you can click the link in Option Coverage
Workday (http://www.standard.com/mybeneits/mhs_ho.html) Salary Employees $0
Continuation
to complete the questionnaire online. Or you can contact your HR Plan For irst working 30
hours per
representative for paper forms. 180 days (6 week receive
months)
65% of salary
up to $2,500
Dependent Life Insurance per week for
up to 180
Dependent Life Insurance provides a beneit to you in the case of the days
death of your spouse, or your dependent child from live birth to age 19 Long Term Long Term $0
Disability
(or age 19 but less than age 25 if a registered full time student). After 180 Disability
begins after
days (6 you have
Coverage Choices months) been disabled
X Spouse Life Insurance—increments of $5,000 up to $250,000 for 180 days;
you will
Note: you cannot elect spousal life insurance greater than receive 60%
your own total additional life insurance value. of your salary
up to $10,000
X You must provide Evidence of Insurability if you elect spouse per month
coverage in excess of $50,000 * To receive disability beneits, you must be
X Premium rates for spouse coverage are based on employee’s age able to provide proof of disability and must
be under a doctor’s care consistent with your
X Child Life Insurance—increments of $2,500 up to $10,000; the medical condition .
cost for this coverage is $0.20 per $1,000 of coverage For more detailed information,
contact your local HR representative.
17
Evidence of Insurability Disability Insurance
Employees will be allowed to elect coverage up to $300,000 for the Salary Continuation and Long
1/1/2015 election without submitting evidence of insurability. This is a Term Disability (LTD)
one-time offering. Nortek’s Salary Continuation Plan
and Long Term Disability Plan (LTD)
Going forward, you must provide Evidence of Insurability (EOI) and can replace some of your income if
be approved by The Standard if you become ill or injured and cannot
X You are newly hired and elect Optional Term Life Insurance work. You are automatically covered
coverage in excess of $300,000 for the Salary Continuation Plan and
X You did not elect Optional Term Life previously and want to elect the LTD Insurance at no cost to you.
this coverage during Beneits Open Enrollment Your
Disability Coverage * Cost of
If Evidence of Insurability applies to you, you can click the link in Option Coverage
Workday (http://www.standard.com/mybeneits/mhs_ho.html) Salary Employees $0
Continuation
to complete the questionnaire online. Or you can contact your HR Plan For irst working 30
hours per
representative for paper forms. 180 days (6 week receive
months)
65% of salary
up to $2,500
Dependent Life Insurance per week for
up to 180
Dependent Life Insurance provides a beneit to you in the case of the days
death of your spouse, or your dependent child from live birth to age 19 Long Term Long Term $0
Disability
(or age 19 but less than age 25 if a registered full time student). After 180 Disability
begins after
days (6 you have
Coverage Choices months) been disabled
X Spouse Life Insurance—increments of $5,000 up to $250,000 for 180 days;
you will
Note: you cannot elect spousal life insurance greater than receive 60%
your own total additional life insurance value. of your salary
up to $10,000
X You must provide Evidence of Insurability if you elect spouse per month
coverage in excess of $50,000 * To receive disability beneits, you must be
X Premium rates for spouse coverage are based on employee’s age able to provide proof of disability and must
be under a doctor’s care consistent with your
X Child Life Insurance—increments of $2,500 up to $10,000; the medical condition .
cost for this coverage is $0.20 per $1,000 of coverage For more detailed information,
contact your local HR representative.
17
