Page 10 - 2021 Marcolin Benefit Guide

Life, AD&D and Disability

Marcolin USA has partnered with Cigna to offer the following benefits at no cost to all active, full time employees:

• Basic Life and AD&D:
o Life insurance is an important part of your financial security, especially if you support a family or you
have people who rely on your income.
o Accidental Death & Dismemberment (AD&D) insurance is designed to provide a benefit in the event of
accidental death or dismemberment. If you die in an accident, the amount of your AD&D coverage is
paid to your beneficiary in addition to your Group Term Life Insurance. However, Accident Insurance
also pays a benefit if you are seriously injured in an accident. Part of your benefit may be paid to you if
you lose a limb or the ability to see.
o Both offer a benefit of 1 times salary up to a maximum of $50,000.

• Short Term Disability:
o Short Term Disability (STD) offers a benefit to you if you become ill or injured. Benefits are payable
depending on resident State. Please contract HR for details.

• Long Term Disability:
o Long Term Disability (LTD) takes over after a period of STD. These benefits begin after 180 days and
can last up to your Social Security Normal Retirement Age.
o Your benefit will be 60% of your monthly salary up to a maximum of $10,000.

• Voluntary Supplemental Life:
o Marcolin USA employees also have the option to purchase supplemental life benefits for themselves
and their eligible dependents.

o Employees can purchase in increments of $10,000, up to $750,000 (maximum of 5 times annual
salary)
▪ Guaranteed Issue: $150,000 – new hires only (non-new hires must complete a medical
questionnaire for any elected amounts.

o Spouses can purchase this benefit in increments of $10,000, up to $250,000 (the benefit cannot be
more than 50% of employee elected amount)
▪ Guaranteed Issue: $50,000 – new hires only

o Employees can purchase this benefit for their children at $5,000, or
$10,000 each (from the age of 14 days to 26 years)

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Note: This is a summary of your coverage only. Please refer to your summary plan description for the full scope of coverage.