Page 12 - 2023-24 Gas Clip Technologies Benefit Guide EXECUTIVES

Life / AD&D Insurance

Equitable:

Basic Life Insurance and Accidental Death & Dismemberment (AD&D)

Gas Clip Technologies provides full-time employees with a 100% Employer Paid $25,000 Life Insurance benefit
and AD&D policy equal to the life insurance benefit. Your benefits will be reduced to 65% of the original
amount at age 65, and 50% of the original amount at age 70. Benefits terminate at retirement.

Voluntary Life Insurance and Accidental Death & Dismemberment (AD&D)

Gas Clip Technologies offers full-time employees a Voluntary Life / AD&D policy for you, your spouse, and
your dependent children. In order to elect coverage for a spouse or children, you must elect coverage for
yourself. This plan is offered as an affordable group policy by your employer. This is 100% employee paid
and will be paid through payroll deduction. Your benefits will be reduced to 65% of the original amount at
age 65, and 50% of the original amount at age 70, whichever comes first.

Employee Life / AD&D Spouse Life / AD&D Child Life / AD&D
$5,000 up to $100,000 not to Live Birth less than 15 days:
Maximum Benefit Up to $500,000 exceed 50% of Employee $500
Amount Increments of $10,000 amount. 15 days to 26 yrs: $10,000
Increments of $5,000 Increments of $1,000.

Minimum Benefit
Amount $10,000 $5,000 $1,000
Guarantee Issue Amount
(New Hires) $100,000 $25,000 Up to $10,000

Increase up to 2 increments Increase up to 2 increments
Guarantee Issue (GI)
of $10,000 for total of $20,000 of $10,000 for total of $20,000 Increase up to $10,000
Amount - (Open Enrollment without EOI. Any amount without EOI. Any amount without EOI.
for Employees already enrolled)
above $20,000 REQUIRES EOI. above $20,000 REQUIRES EOI.

Living Care / Accelerat- 75% of the amount of the life insurance benefit is available to you if terminally ill.
ed Death Benefit Not to exceed $250,000

If it is determined that you are totally disabled, your life insurance benefit will continue with-
out payment of premium.
Waiver of Premium
Total Disability Prior to Age 60/ Any Occupation/ 9 Month Elimination Period /
Terminates at age 65

In addition to basic AD&D benefits, you are protected by the following benefits:
Additional AD&D Benefits
Rehab/Physical Therapy Seat Belt Air Bag Common Carrier

Portability: Allows you to take your group term Life insurance with you if you leave your employer.
Portability/Conversion Conversion: Allows you convert your group term Life insurance coverage to an individual, whole life
policy if your coverage is reduced or ends.

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