Page 10 - 2015 New Hire Guide
P. 10
New Hire
Beneits Guide
Olshan Properties provides Basic Life and AD&D Insurance through
Life and Mutual of Omaha to all eligible employees. This coverage pays a
Accidental beneit to your named beneiciary in the event of your death or certain
Death & debilitating injuries. This beneit is 1 x annual salary to a maximum of
Dismemberment $50,000 and paid for by Olshan Properties.
(AD&D) Insurance Voluntary Life
Coverage If you would like to purchase voluntary life insurance in addition
to your company paid beneit, the Olshan Properties offers you the
ability to purchase voluntary life insurance at competitive group rates.
Voluntary Life Insurance can be purchased in increments of $10,000
up to a maximum of 5 times your salary, or $500,000, whichever is less.
Once you’ve elected coverage for yourself, you can elect coverage for
your spouse and/or dependent children.
Spouses can elect coverage in $5,000 increments to a maximum 50%
of the employee’s elected beneit, or $50,000, whichever is less. You
can also elect coverage for your child(ren) in $2,000 increments to a
maximum of $10,000.
Special New Hire Opportunity!
During your initial new hire eligibility period, you may elect voluntary
life coverage up to the guaranteed issue amount without evidence of
insurability. Going forward, if you want to increase your coverage
amount by more than one increment, evidence of insurability or proof
of good health will be required before our Mutual of Omaha inalizes
and approves your election. The guaranteed issue amounts are as
follows:
X Employee Guaranteed Issue Amount = 5x Annual Salary, up to
$200,000
X Spouse Guaranteed Issue Amount = $50,000
X Child(ren) Guaranteed Issue Amount = $10,000
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Beneits Guide
Olshan Properties provides Basic Life and AD&D Insurance through
Life and Mutual of Omaha to all eligible employees. This coverage pays a
Accidental beneit to your named beneiciary in the event of your death or certain
Death & debilitating injuries. This beneit is 1 x annual salary to a maximum of
Dismemberment $50,000 and paid for by Olshan Properties.
(AD&D) Insurance Voluntary Life
Coverage If you would like to purchase voluntary life insurance in addition
to your company paid beneit, the Olshan Properties offers you the
ability to purchase voluntary life insurance at competitive group rates.
Voluntary Life Insurance can be purchased in increments of $10,000
up to a maximum of 5 times your salary, or $500,000, whichever is less.
Once you’ve elected coverage for yourself, you can elect coverage for
your spouse and/or dependent children.
Spouses can elect coverage in $5,000 increments to a maximum 50%
of the employee’s elected beneit, or $50,000, whichever is less. You
can also elect coverage for your child(ren) in $2,000 increments to a
maximum of $10,000.
Special New Hire Opportunity!
During your initial new hire eligibility period, you may elect voluntary
life coverage up to the guaranteed issue amount without evidence of
insurability. Going forward, if you want to increase your coverage
amount by more than one increment, evidence of insurability or proof
of good health will be required before our Mutual of Omaha inalizes
and approves your election. The guaranteed issue amounts are as
follows:
X Employee Guaranteed Issue Amount = 5x Annual Salary, up to
$200,000
X Spouse Guaranteed Issue Amount = $50,000
X Child(ren) Guaranteed Issue Amount = $10,000
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