Page 22 - IPsoft 2018 Benefits Guide

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Voluntary Life and AD&D Insurance
Insured by First Reliance Standard
Employees who want to supplement their IPsoft
paid Group Life Insurance bene ts may purchase additional coverage through First Reliance Standard’s voluntary program. When you enroll yourself and/or dependents into this program, you are responsible for paying the full cost through payroll deductions.
Employees can elect: up to $1,000,000 maximum coverage in increments of $50,000.
Spouse Amount*: A maximum of $250,000, not to exceed 50% of employee’s coverage amount.
Child Amount: $10,000.
* Spouse coverage based on employee age and terminates at age 70. EOI required.
You are guaranteed coverage up to $150,000 without answering medical questions if you enroll when
you are rst eligible. IPsoft employees who waive Voluntary Life Insurance upon hire and would like
to purchase additional coverage in the future MUST complete an “evidence of insurability questionnaire”. If you have any questions, please contact Human Resources.
If you are interested in updating your bene ciaries on your Life Insurance Policy, please contact Human Resources.
First Reliance Standard’s Voluntary Life and AD&D coverage is a convenient, affordable measure of protection you can give your family against the very aspects of life no one wants to think about, let alone plan for.
Short and Long-Term Disability
Administered by First Reliance Standard
Disability Insurance provides income if you become disabled due to an injury or illness. IPsoft provides full-time employees with short and long-term disability income bene ts. In accordance with the law, both the employer and the employee are required to contribute towards their New York State short-term disability bene t.
Short-term Disability (STD) insurance provides income if you become disabled due to an injury or illness. Bene ts begin on the rst day for accidents and eighth day for illness and can continue up to 26 weeks. The plan replaces 60% of your pre-disability earnings to a maximum of $1,500 a week.
Long-term Disability insurance provides income when you have been disabled for 180 days or more. Your bene t is 60% of your monthly earnings, up to $7,500 per month. This amount may be reduced by other deductible sources of income or disability earnings and pre-existing conditions exclusions rules apply. Bene t payments can continue to age 65 if you
are under age 60 at the time of disability. If you are partially disabled, you may be eligible for a
partial bene t.
2018 Benefits