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LIFE AND AD&D INSURANCE

Your Life and AD&D Insurance - Unum

To provide financial protection for your family, the Down East Wood Ducks provide 100% employer
paid Basic Life and AD&D insurance to benefit eligible employees through Unum. In the event of our
death, life insurance benefits protect your family financially. AD&D is a benefit paid in the event of
dismemberment or as an addition to your life insurance if death results from an accident. You have
the option to purchase, at reduced group rates, additional (voluntary) life insurance for yourself, your
spouse, and dependents.

Benefit Information

• Premiums paid by the Company
• Employee Benefit Amount:

You are provided with 1.5 times your annual earnings of term life insurance to an overall maximum benefit of $300,000.

You will also receive 1.5 times your annual earnings of Accidental Death and Dismemberment insurance to an overall
maximum benefit amount of $300,000.

Reduction Schedule:
• 65% at age 65
• 50% at age 70

.
Portability and Conversion:

You can continue your life insurance when your coverage is ending with Conversion and Portability.

• Conversion: You can change your group term life coverage to an individual whole life policy where you pay
the premiums. Upon the termination of your insurance and within 31 days you will need to complete a state-
specific life conversion form. The rates will be included on this form.
• Portability: You can take your group term life coverage with you when your insurance terminates. This
term life plan would be available at group rates. Upon termination and within 31 days you would complete a
portability form and request rates through Unum.

Please see HR to obtain a full list of qualifying events to allow either Conversion or Portability.

The above is a summary of this benefit option.

Click here for more detailed information on this available benefit option.

2023 Down East Wood Ducks Benefit Guide Page 11