Page 9 - tru fru 2023 Benefit Guide

Life and AD&D Insurance

Basic life and AD&D insurance

y Life insurance is an important part of your financial wellbeing, especially if others depend on you for support.
y trü frü provides basic life and accidental death and dismemberment insurance through Sun Life US to all Associates
at no cost equal to 1.5 times your base annual earnings, up to a maximum of $600,000.
y Coverage is automatic; you do not need to enroll.

What is Imputed Income?
Life insurance coverage amounts over $50,000 are subject to tax based on imputed income. Imputed income is an amount
that reflects the premiums paid on company-provided life insurance over $50,000. The IRS requires you to pay income taxes
on the cost of coverage above this amount.

Voluntary life and AD&D insurance
y You may choose to purchase additional life and AD&D coverage through an independent broker or through trü frü’s
voluntary life insurance plan for yourself and your dependents at affordable group rates.
y In order to purchase Spouse/Child life insurance, you must purchase voluntary life insurance for yourself.
y Associate and Spouse rates are based on age and volume.
y All approved benefits will be portable if you were to leave trü frü; portability refers to changing to a personal term life policy.

Voluntary life and AD&D insurance for you Voluntary life and AD&D insurance for your dependents

Associate Spouse Child(ren)
y Increments of $10,000 up to the lesser of y Increments of $10,000 up to the lesser y Flat benefit amount of
$500,000 or 5x your base annual earnings of $150,000 or the amount purchased $10,000
y Guaranteed issue up to $100,000 by the Associate y If you are not a new hire and are

y If you are electing new coverage or have existing y Guaranteed issue up to $50,000 electing coverage, you must
coverage and are electing over $100,000, y If you are not a new hire and are electing submit Evidence of Insurability
you must submit Evidence of Insurability. any amount of coverage, you must submit to be reviewed.
Evidence of Insurability to be reviewed.

What is Guaranteed Issue?
Guaranteed issue is the maximum you may purchase without going through an underwriting or medical approval. If you
wish to purchase additional coverage beyond the guaranteed issue, Sun Life US will require you to complete an application
and it could take between 1 to 1.5 months for an approval before the benefit is effective.

Protect your loved ones

y 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.
y Be sure to designate your beneficiary – You must choose a beneficiary for life and AD&D insurance. Keep your
beneficiaries up-to-date by notifying HR.

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