Page 16 - 2024 FINAL Citizens Bank Benefit Guide
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Life / AD&D Insurance:



         Mutual of Omaha





               Basic Life Insurance and Accidental Death & Dismemberment (AD&D)
         Citizens  Bank  of  Ada  provides  full-time  employees  a  life  insurance  benefit  of  $30,000  and  a
         matching AD&D policy equal to the life insurance benefit.  Citizens Bank of Ada pays the full cost of
         this benefit.  Your benefits will reduce to 67% at age 70, and to 50% at age 75.  Benefits terminate at
         retirement.

            Voluntary Life Insurance and Accidental Death & Dismemberment (AD&D)
         Citizens Bank of Ada offers full-time employees a Voluntary Life / AD&D policy for themselves, their
         spouse, and their dependent child(ren). In order to elect coverage for a spouse or child, you must
         elect  coverage  for  yourself.  This  is  an  affordable  group  policy  by  your  employer.  This  is  100%
         employee paid and will be paid through payroll deduction. Your benefits will reduce to 67% at age
         70,  and  to  50%  at  age  75.  Benefits  terminate  at  retirement.  Spouse’s  benefits  do  not  have  age
         reductions  and  will  terminate  at  Employee’s  age  of  70  or  retirement,  whichever  comes  first.
         Guaranteed Issue for spouses apply at 2024 Open Enrollment and new hire employees.


                                Employee Life / AD&D            Spouse Life / AD&D            Child Life / AD&D

          Maximum Benefit        5x Annual Salary, up to     100% of Employees benefit, up
          Amount                        $500,000                      to $250,000                   $10,000

          Minimum Benefit                $10,000                         $5,000                     $10,000
          Amount

                                 5x Annual Salary, up to
          Guarantee Issue        $100,000 for New Hires.
          (GI) Amount during                                 100% of the Employees Benefit   $10,000 New Hire and
          For New Hires and    Open Enrollment: If already     up to $30,000 at New Hire.       Open Enrollment
                               enrolled, you may increase
          Current Employees
                                  by $10,000 (up to GI).

          Living Care /
          Accelerated Death    80% of Life Benefit is available if diagnosed with a terminal illness not to exceed your
                               life benefit amount.
          Benefit

                               If it is determined that you are totally disabled, your life insurance benefit will continue
          Waiver of Premium
                               without payment of premium, subject to certain conditions.


          Additional AD&D      In addition to basic AD&D benefits, you are protected by the following benefits:
          Benefits               Child & Spouse Education * Seat Belt * Airbag  * Coma * Common Carrier  * Paralysis


                               The portability feature allows you to continue this insurance for yourself and your dependents (if
                               applicable) should your employment end, subject to the terms of eligibility defined in the policy,
          Portability
                               without having to provide evidence of insurability (information about your health).  This feature
                               requires the member to contact your plan administrator to complete forms.


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