Page 12 - 2022 Iodine Software Benefit Guide

Life Insurance and Disability Offered by Sun Life

Life and AD&D Insurance Disability Insurance
Iodine Software provides Basic Life and AD&D insurance Disability insurance provides income replacement
for employees and offers voluntary insurance options for should you become disabled and unable to work due
employees and their dependents. to a non-work-related illness or injury. Iodine Software
provides disability coverage at no cost as shown below.
Basic Life and AD&D Insurance Coverage is automatic; you do not need to enroll.
Life insurance is an important part of your financial
wellbeing, especially if others depend on you for support. Coverage Benefit
Iodine Software provides Basic Life and Accidental Death &
Dismemberment insurance at no cost to you. The benefit Short-Term ● 60% of your weekly salary, to a maximum of
available is one times your annual salary to a maximum Disability $2,300 per week for the first 13 weeks of a
of $500,000; $200,000 of that is guarantee issued. disability after the one-week waiting period.
Any amount over $200,000 will require medical Long-Term ● 60% of your base salary, to a maximum of
questionnaire or EOI. Coverage is automatic; you do not Disability $10,000 per month if you are disabled and
need to enroll. are unable to work for more than 90 days.

● Benefits are offset with other sources
Voluntary Life and AD&D Insurance of income, such as Social Security and
You may choose to purchase additional Life and AD&D Workers’ Compensation.
coverage for yourself and your dependents at affordable
group rates. Rates are based on age and the coverage
level chosen. Age Rated Spouse –
Premiums Employee rate based on
Voluntary Life and AD&D Insurance for you (Includes AD&D) (rate per $1,000) spouse age
Employee (rate per $1,000)
● Increments of $10,000 up to 5x your base annual salary <20 $0.068 $0.068
● Up to a $500,000 maximum 20-24 $0.091 $0.091
● Guaranteed issue up to $150,000 (new hires only) 25-29 $0.091 $0.091
Voluntary Life and AD&D Insurance 30-34 $0.091 $0.091
for your dependents 35-39 $0.105 $0.105

40-44 $0.139 $0.139
Spouse Child(ren)
● Increments of $5,000 ● 6 months to 26 years: 45-49 $0.195 $0.195
(not to exceed 50% of $10,000 50-54 $0.294 $0.294
your voluntary life and 55-59 $0.455 $0.455
AD&D coverage) 60-64 $0.683 $0.683
● Up to a $250,000 maximum
● Guaranteed issue up 65-69 $1.139 $1.139
to $35,000 (New Hires only) 70-74 $2.294 N/A
75-79 $4.604 N/A
80-84 $9.119 N/A
85+ $16.788 N/A
Child Life /
AD&D Rate $0.311

***For example: A 36 year-old employee elects $50,000
of coverage**

$50,000 ÷ $1,000 = 50 X $0.102 = $5.25 ÷ 2 = $2.625
Elected Rate Your Your
Benefit Above Monthly Semi-Monthly
Amount Cost Cost

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