Page 12 - 2023 Microbe Benefit Guide

Life Insurance and Disability

Life and AD&D Insurance
Microbe Formulas provides basic life and AD&D insurance for employees and offers voluntary insurance options for employees and
their dependents through carrier.
Basic Life and AD&D Insurance
▪ Life insurance is an important part of your financial wellbeing, especially if others depend on you for support.
▪ Microbe Formulas provides basic life and accidental death and dismemberment insurance through OneAmerica to all eligible
associates at no cost up to a maximum of $50,000.
▪ Coverage is automatic; you do not need to enroll.
▪ Benefit Reduction Schedule: 75% at age 65, 35% at 70, 25% at age 75
Voluntary Life and AD&D Insurance
▪ You may choose to purchase additional life and AD&D coverage through OneAmerica for yourself and your dependents at
affordable group rates.
▪ Rates are based on age and the coverage level chosen.
▪ Age reductions apply to Employee and Spouse coverage.

Voluntary Life and AD&D Insurance for you Voluntary Life and AD&D Insurance for your dependents
Employee Spouse Child(ren)
▪ Increments of $10,000 ▪ Increments of $5,000 (not to ▪ $10,000 per child/$1,000 if
▪ Up to a $500,000 maximum exceed 50% of your voluntary under 6 months
▪ Guaranteed issue up to $150,000 life and AD&D coverage) ▪ Guaranteed issue up to $10,000
▪ Up to a $50,000 maximum ▪ Must be added within 31 days
▪ Guaranteed issue up to $25,000 of birth

Protect your loved ones
▪ Affordable supplemental coverage – Take advantage of the group rates offered to get the best deal on your coverage.
Investing in insurance give you peace of mind and the financial protection for yourself and your loved ones.
▪ Be sure to designate your beneficiary – You must choose a beneficiary for life and AD&D insurance. Keep your
beneficiaries up-to-date.

Voluntary Disability Insurance
Disability insurance is available through OneAmerica provides income replacement should you become disabled and unable to
work due to a non-work-related illness or injury. Employees are responsible for the premium, if elected.
Coverage Voluntary Short-Term Disability Voluntary Long-Term Disability
Benefit ▪ 60% of your weekly salary, to a maximum of $2,000 ▪ 60% of your base salary, to a maximum of $6,000
per week for the first 13 weeks of a disability on the first per month if you are disabled and are unable to work for
day of an accident and after the one-week waiting period more than 90 days
for an illness ▪ Pre-existing condition limitation: Any injury or sickness
▪ Pre-existing condition limitation: Any injury or sickness for which the insured received medical treatment within
for which the insured received medical treatment within 3 months prior to his or her effective date will not be
3 months prior to his or her effective date will not be covered for 12 months after the effective date.
covered for 6 months after the effective date. ▪ Benefits are offset with other sources of income, such as
Social Security and Workers’ Compensation.

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