Page 33 - Skechers 2022 Benefits Guide

LIFE & AD&D PLAN OVERVIEW
Most of us rely on our paycheck to cover bills and everyday expenses. If the unexpected happens, would your family have enough money to cover their expenses? For many of us, the answer is “no.” That’s where Life and AD&D insurance protection benefits come into play.
HOW DO I ENROLL
For the Basic Life/ AD&D Insurance, U.S. Domestic Full-Time and ACA eligible employees will automatically be enrolled. Please update your beneficiary information on skechersbenefits.com. For the Voluntary Life/ AD&D Insurance, you must make your selection online through skechersbenefits. com.
COVERAGE FOR THE UNEXPECTED
Skechers is pleased to offer an array of plans that, when used in the right combination for your personal situation, can protect your income should the unexpected happen.
BASIC TERM LIFE / AD&D INSURANCE
All benefit-eligible employees* receive Basic Life/Accidental Death & Dismemberment (AD&D) Insurance at no cost to you.
• Group Life Insurance Coverage: 1x Annual Salary up to $500,000
• Group AD&D Coverage:
1x Annual Salary up to $500,000
• No Benefit Age Reduction
VOLUNTARY TERM LIFE / AD&D INSURANCE
All full-time and ACA Eligible Employees may purchase additional Life/AD&D coverage. When you enroll yourself and/or your dependents in this benefit, you will pay the full cost through payroll deductions on a post tax basis.
Employee Voluntary Life/AD&D
• For new hires or newly eligible, if electing coverage in an amount greater than $300,000, you must complete the Evidence of Insurability form and return to for underwriting. The form is available when you make your elections as well as in the Reference Center in skechersbenefits.com.
• For existing employees, if you previously waived voluntary life, you must complete the Evidence of Insurability form and return to Reliance Standard for underwriting approval for any amount of new coverage.
• At annual open enrollment, you can purchase an additional $10,000 of Life and AD&D (up to $500,000) without submitting evidence of insurability, if you have existing Skechers Voluntary Life coverage. With no existing coverage, you will need to complete evidence of insurability to elect any amount.
• No Benefit Age Reduction Dependent Life Insurance
RELIANCE STANDARD
Member Services:
800-351-7500
Member Website:
reliancestandard.com
• Coverage amounts in increments of $10,000 up to
$500,000. •
• •
Dependent Group Term Life Insurance is also available for spouses, domestic partners, and unmarried children up to age 26, regardless of full-time student status.
Costs vary by age and benefit amount.
See the benefit materials for more information on cost and benefit maximums. These can be found in the skechersbenefits.com system in the “Reference Center.”
*This benefit is provided to U.S. Domestic and Puerto Rico full-time and ACA eligible employees and does not apply to Expatriate employees. Expatriate employees have a separate Life benefit through Skechers’ Cigna International plan.
2022 BENEFITS 33