Page 12 - Polyventive 2022 Benefits Guide
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Life and Disability
Polyventive provides the following beneits at no cost to eligible employees:
■ Group Term Life Insurance in the amount of ■ Eligible Employees are provided Short Term
one (1) time your base annual wages up to Disability coverage paid for by Polyventive.
$250,000, rounded up to the next $1,000. In Short Term Disability will replace a portion of
addition, the company provides Accidental your weekly earnings if you become disabled as
Death and Dismemberment coverage equal to a result of an illness or injury (outside of work)
the group term life beneit. on a short term basis.
Voluntary Long Term Disability (LTD)
If you continue to be disabled beyond the short Voluntary LTD Plan Highlights
term period, Polyventive ofers Employees the ability ■ 60% income replacement to monthly maximum
to purchase Long Term Disability. beneit of $5,000.
■ Starts paying a monthly beneit after 90 days of
Long Term Disability will replace a portion of your disability.
income if you are disabled as a result of an illness or ■
injury on a long term basis (more than 90 days). You are eligible to receive beneits up to your
normal Social Security Retirement Age.
The beneit you receive will be tax-free and can be ■ If you should die while receiving LTD payments
used to pay for your mortgage, rent, utilities, or your survivor will receive a survivor beneit
other monthly expenses. payment equaling three (3) months of your total
monthly LTD beneit.
For a detailed description of the beneit provisions
and the limitations and exclusions, please see the
summary plan description. Any questions can be
directed to your Human Resources Department.
Disability is deined as being prevented from
performing one or more essential duties of your
occupation and as a result your current monthly
earnings are less than 80% of your pre-disability
earnings.
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Polyventive provides the following beneits at no cost to eligible employees:
■ Group Term Life Insurance in the amount of ■ Eligible Employees are provided Short Term
one (1) time your base annual wages up to Disability coverage paid for by Polyventive.
$250,000, rounded up to the next $1,000. In Short Term Disability will replace a portion of
addition, the company provides Accidental your weekly earnings if you become disabled as
Death and Dismemberment coverage equal to a result of an illness or injury (outside of work)
the group term life beneit. on a short term basis.
Voluntary Long Term Disability (LTD)
If you continue to be disabled beyond the short Voluntary LTD Plan Highlights
term period, Polyventive ofers Employees the ability ■ 60% income replacement to monthly maximum
to purchase Long Term Disability. beneit of $5,000.
■ Starts paying a monthly beneit after 90 days of
Long Term Disability will replace a portion of your disability.
income if you are disabled as a result of an illness or ■
injury on a long term basis (more than 90 days). You are eligible to receive beneits up to your
normal Social Security Retirement Age.
The beneit you receive will be tax-free and can be ■ If you should die while receiving LTD payments
used to pay for your mortgage, rent, utilities, or your survivor will receive a survivor beneit
other monthly expenses. payment equaling three (3) months of your total
monthly LTD beneit.
For a detailed description of the beneit provisions
and the limitations and exclusions, please see the
summary plan description. Any questions can be
directed to your Human Resources Department.
Disability is deined as being prevented from
performing one or more essential duties of your
occupation and as a result your current monthly
earnings are less than 80% of your pre-disability
earnings.
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