Page 16 - 2021 ASG Benefit Guide

Life insurance and disability

Life and AD&D Insurance Disability Insurance
ASG Technologies Group provides basic life and AD&D Disability insurance provides income replacement should
insurance for employees and offers voluntary insurance you become disabled and unable to work due to a non-
options for employees and their dependents through Lincoln work-related illness or injury. ASG Technologies Group
Financial Group. provides eligible associates with disability coverage at no
cost as shown below. Coverage is automatic; you do not
Basic Life Insurance need to enroll.
Life insurance is an important part of your financial
wellbeing, especially if others depend on you for Coverage Benefit
support. ASG Technologies Group provides basic life and
accidental death and dismemberment insurance to all Short-Term ΅ 60% of your weekly salary, to a maximum of
Disability
$2,500 per week for the first 12 weeks of a
eligible associates at no cost in the amount of $50,000. disability after the 7-day waiting period.
Coverage is automatic; you do not need to enroll.
Long-Term ΅ 60% of your base salary, to a maximum of
Disability $12,500 per month if you are disabled and
Voluntary Life Insurance are unable to work for more than 90 days.
You may choose to purchase additional life coverage for ΅ Benefits are offset with other sources
yourself and your dependents at affordable group rates. of income, such as Social Security and
Rates are based on age and the coverage level chosen. Workers’ Compensation.

If you are a continuing employee, you can increase your
coverage amount by two levels during open enrollment
each year without providing evidence of insurability.

If you decline this coverage at your initial eligibility (i.e. as Family Medical Leave Act (FMLA)
a new hire) and wish to enroll later, evidence of insurability If you have been with the company for 12 months,
may be required and may be at your own expense. you may be eligible for up to 12 work weeks
of unpaid leave per year under the Family and
Medical Leave Act (FMLA). FMLA can be used for
Voluntary Life Insurance for you
an illness of your own, care needed for a family
Employee member, care for a newborn and certain other
΅ Increments of $10,000 up to 5x your base annual salary medical needs.
΅ Up to a $750,000 maximum
΅ Guaranteed issue up to $300,000*

Voluntary Life Insurance for your dependents

The amount of dependent life insurance coverage
cannot be greater than 50% of the employee elected
benefit amount.

Spouse Child(ren)
΅ Increments of $5,000 ΅ Live birth but under
΅ Up to a $100,000 maximum 6 months: $1,000
΅ Guaranteed issue up to ΅ At least six months up
$30,000* to age 26: Increments

of $2,000up to $10,000

*Applicable to enrollment at initial hire

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