Page 14 - Watermark Retirement Communities 2022 Benefits Guide Logan Square Union After

Life Insurance and Disability

Life and AD&D Insurance Disability Insurance

Watermark Retirement Communities provides basic life and Disability insurance provides income replacement should you
AD&D insurance for employees and offers voluntary become disabled and unable to work due to a non-work-
insurance options for employees and their dependents. related illness or injury.
Basic Life and AD&D Insurance

Coverage Benefit
Life insurance is an important part of your financial wellbeing,
especially if others depend on you for support. Watermark  Covers 50% of weekly base salary
provides basic life and accidental death and dismemberment STD Base  Weekly maximum benefit up to $1,500
insurance of $15,000 to all benefit eligible, full-time Plan*
 Benefits begin on the 15th day for
associates through UnitedHealthcare. Coverage is automatic;
accident or illness
you do not need to enroll. This benefit is provided at no cost
 Benefit duration is up to 26 weeks
to you.
Voluntary Life and AD&D Insurance STD Buy-Up  Covers 66.67% of weekly base salary
Plan*  Weekly maximum benefit up to $1,500
 Benefit begins on the 1st day for accident
You may choose to purchase additional life and AD&D and 8th day for illness
coverage for yourself and your dependents at affordable  Benefit duration is up to 26 weeks
group rates. Rates are based on age and the coverage
level chosen.
LTD Plan  Covers 60% of monthly base salary
 Monthly maximum benefit up to $10,000
Voluntary Life and AD&D Insurance for you
 Benefit begins after 180 days of disability
 Two Year Own Occupation definition of
Employee
disability; benefits payable to age 65 if
 $10,000 to a maximum of the lesser of 5x earnings or totally disabled
$500,000
 The lesser of 3x salary or $300,000 is Guaranteed Issue
when first eligible *To ensure that you follow the correct procedures for
submitting an STD claim, we have outlined the process on
Voluntary Life and AD&D Insurance the following page. Please refer to this page so you do
for your dependents not delay the process for your claim payment.
Spouse Child(ren)
 Increments of $10,000 to  Increments of $2,000 to a
a maximum of $250,000; maximum of $10,000; not
not to exceed 50% of to exceed 50% of
associate election associate election
 $30,000 Guaranteed Issue  $10,000 Guaranteed
when first eligible

Note: If you do not elect coverage for Voluntary Life and AD&D during your
initial enrollment, you will be subject to Evidence of Insurability (EOI) if you
elect coverage at a later date. United Healthcare will review your application
and either approve/deny your request to enroll.

If you elect benefits over the stated Guaranteed Issue amounts noted above,
you must complete an Evidence of Insurability (EOI) form for United
Healthcare's review. Your request to enroll over the guaranteed issue
amount will then either by approved or denied.

14