Page 21 - Megatel Homes LLC Benefit Guide 8-1-2024

Life / AD&D Insurance:

Mutual of Omaha

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

Megatel Homes, LLC offers full-time employees a Voluntary Life / AD&D policy for yourselves, your spouse, and your
dependent children. In order to elect coverage for a spouse or child, you must elect coverage for yourself. This plan is
offered through a competitive group policy by your employer. It is 100% employee cost and will be paid through pay-
roll deduction. Rates are based on Employees age. Your benefits will reduce to 65% at age 65, and to 50% at age 75.

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

Maximum Benefit 100% of Employee’s Benefit, up to
5x Annual Salary, up to $500,000 $10,000
Amount $250,000

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

Guarantee Issue 100% of Employee’s Benefit, up to
5x Annual Salary, up to $150,000 $10,000
Amount—New Hires $50,000

If previously enrolled, you can
Guarantee Issue increase your amount by $10,000
Amount— up to $30,000 up to the GI amount (EOI) Evidence of Insurability form
limit of $150,000. If you did not applies for employees that are $10,000
(EOI) Evidence of make a voluntary life election dur- NOT new hires
Insurability form ing your new hire enrollment, you
will need to fill out an EOI.

Living Care Benefit /
Accelerated Death 80% of your Life Benefit can be obtained if diagnosed with a terminal illness up to $250,000.
Balance paid at death.
Benefit
If it is determined that you are totally disabled, your life insurance benefit will continue without
Waiver of Premium
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 Seat Belt Child Education Airbag Common Carrier

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 Benefit
without having to provide evidence of insurability (information about your health). This feature
requires the member to contact Mutual of Omaha to initiate.

You may also convert your policy without having to provide evidence of insurability (information
Conversation Benefit
about your health). This feature requires the member to contact Mutual of Omaha to initiate.

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