Page 35 - OpenX 2022 Book of Benefits

LIFE & DISABILITY INSURANCE

Life Insurance

Life insurance is an important part of your financial well-being, especially if others depend on you for
support. OpenX provides basic life and accidental death and dismemberment insurance to all eligible
associates equal to $50,000. Coverage is automatic: you do not need to enroll to obtain coverage.

You may choose to purchase additional life and AD&D coverage for yourself and your dependents at
affordable group rates. You pay the full cost of coverage on an after-tax basis for a tax-free benefit
if ever claimed. Rates are based on age and the coverage level chosen. You can increase your life
insurance up to $20k each year during open enrollment with no EOI required.

NEW YORK LIFE BASIC GROUP TERM LIFE INSURANCE

Guaranteed Evidence of
Options
Issue Insurability
Company Paid Life & AD&D Company-provided coverage
$50,000 No EOI required.
Employee of $50,000.

You may purchase coverage
No EOI required if
Supplemental Life & AD&D for yourself in units of $10,000
$200,000 elected at time
Employee up to the lesser of 5x your
of hire.
salary or $500,000.

You may purchase coverage
for your spouse in units of No EOI required if
Voluntary Life & AD&D
$5,000 up to $100,000. May not $30,000 elected at time
Spouse
exceed 50% of an employee’s of hire.
voluntary benefit.

You may purchase coverage
for your child(ren) in units of
Voluntary Life $4,000 up to a maximum of
All amounts No EOI required, ever.
Child(ren) $20,000. One rate applies no
matter how many children are
covered under your policy.

Complete Your Evidence of Insurability

If you apply for coverage more than 31 days from the date you become eligible to elect coverage
under this plan, the Guaranteed Issue amount will not apply, and you will need to complete EOI.
After enrolling in coverage, click here to complete your EOI. EOI must be completed within 31 days of
electing coverage.

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