Page 14 - 2019 Murphy Benefits Enrollment
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This year is considered a limited open enrollment opportunity for your voluntary life coverages. This means you have the
opportunity to elect new coverage, or increase your current coverage by two $10,000 increments (or two $5,000 increments for
spouse coverage) up to the plan maximum, without submitting proof of good health. This limited open enrollment applies to both
employee and spouse elections, efective March 1. Please note, if you were previously denied coverage, you must still submit
evidence of insurability to elect or increase coverage.
LIFE AND DISABILITY
INSURANCE
Life and disability insurance is provided through Lincoln Financial.
Basic Life and Accidental Death and
Dismemberment
Basic group term life and accidental death and dismemberment (AD&D)
insurance—in the amount of your annual salary—is provided to you at
no cost through Lincoln Financial. Your basic AD&D coverage amount
equals your basic life beneit.
Employee Voluntary Life and AD&D Insurance
You are eligible to purchase voluntary life insurance in increments of 5
times your annual salary up to a maximum beneit of $300,000. The same
coverage options exist for voluntary AD&D insurance.
Spouse and Dependent Voluntary Life and AD&D
Insurance
If you elect voluntary life coverage for yourself, you can also elect
voluntary life coverage for your spouse in coverage increments of $5,000
up to $100,000, not to exceed 50% of the employee elected amount.
Dependent child life coverage is available in a lat amount of $10,000.
Voluntary AD&D options are in increments of 5 times your annual salary
up to a maximum beneit of $300,000.
Long Term Disability
Murphy Company provides long term disability insurance in the event
you are unable to work due to an accident or sickness. Upon meeting the
deinition of disability, and following a waiting period of 90 days, the plan
may cover 60% of your pre-disability earnings up to a monthly maximum.
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opportunity to elect new coverage, or increase your current coverage by two $10,000 increments (or two $5,000 increments for
spouse coverage) up to the plan maximum, without submitting proof of good health. This limited open enrollment applies to both
employee and spouse elections, efective March 1. Please note, if you were previously denied coverage, you must still submit
evidence of insurability to elect or increase coverage.
LIFE AND DISABILITY
INSURANCE
Life and disability insurance is provided through Lincoln Financial.
Basic Life and Accidental Death and
Dismemberment
Basic group term life and accidental death and dismemberment (AD&D)
insurance—in the amount of your annual salary—is provided to you at
no cost through Lincoln Financial. Your basic AD&D coverage amount
equals your basic life beneit.
Employee Voluntary Life and AD&D Insurance
You are eligible to purchase voluntary life insurance in increments of 5
times your annual salary up to a maximum beneit of $300,000. The same
coverage options exist for voluntary AD&D insurance.
Spouse and Dependent Voluntary Life and AD&D
Insurance
If you elect voluntary life coverage for yourself, you can also elect
voluntary life coverage for your spouse in coverage increments of $5,000
up to $100,000, not to exceed 50% of the employee elected amount.
Dependent child life coverage is available in a lat amount of $10,000.
Voluntary AD&D options are in increments of 5 times your annual salary
up to a maximum beneit of $300,000.
Long Term Disability
Murphy Company provides long term disability insurance in the event
you are unable to work due to an accident or sickness. Upon meeting the
deinition of disability, and following a waiting period of 90 days, the plan
may cover 60% of your pre-disability earnings up to a monthly maximum.
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