Page 13 - Mitsubishi-2022-Benefit Guide-MCPP-V9(JO)-LRI_Neat

Life insurance and disability

Life and AD&D Insurance Short-Term and Long-Term Disability Insurance
MCA provides basic life and AD&D insurance for employees Short-Term and Long-Term Disability Insurance provide
and offers voluntary insurance options for employees and income replacement should you become disabled and
their dependents. unable to work due to a non-work-related illness or injury.
MCA provides eligible employees with short-term and
Basic Life and AD&D Insurance long-term disability coverage at no cost as shown below.
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.
MCA provides basic life and accidental death and Coverage Benefit
dismemberment insurance to all eligible associates at no
cost equal to 2 times your base annual earnings, up to a ● 70% of your weekly salary
maximum of $750,000. Also, a cash benefit of $10,000 to ● 26-week benefit period if out of work due
you in the event of your spouse’s death and a $5,000 cash Short-Term to injury, illness, surgery or recovery from
benefit in the event of your child(ren)’s death. Coverage is Disability childbirth
automatic; you do not need to enroll. ● Elimination Period: 0 Days for injury and
after 7 calendar days for sickness
Supplemental and Dependent Insurance ● 66 2/3% of your base salary, to a maximum
of $10,000 per month if you are disabled and
You may choose to purchase additional life coverage for are unable to work for more than 180 days.
yourself and your dependents at affordable group rates.
● The employer cost for this coverage is
Rates are based on age and the coverage level chosen. Long-Term imputed into your pay taxation. In the event
Disability you are approved for an LTD claim, this
Supplemental Life Insurance for you 66 2/3% benefit will be non-taxable to you.
● Benefits are offset with other sources
Employee of income, such as Social Security and
● 1x - 4x your base annual salary Workers’ Compensation.
● Up to a $750,000 maximum
California residents: Coverage may be available through
Supplemental Life Insurance for your dependents California State Disability. Please reach out to the state
disability office for claim filing requirements.
Spouse Child(ren)
● The amount of Dependent ● $15,000 per child
Life Insurance coverage
cannot be greater than Evidence of Insurability
50% of the combined
basic and optional If you elect over the guaranteed issue amount
Employee Benefit for supplemental life, an Evidence of Insurability
● Up to a $150,000 maximum (EOI) form will need to be completed. Coverage
will take effect the first of the month following
approval of your EOI. Human Resources will send
you a copy of the form if applicable.

13