Page 8 - Identity MSO 2021 Employee Benefits - Semi Monthly

Identity MSO
2021 Employee Benefits Brochure

Additional Benefits

Basic Life/AD&D – Employee Only – Sun Life Financial (100% Employer Paid)
Identity MSO provides basic life insurance at no cost to you. Your life & AD&D benefit amount is 1 times annual
earnings up to $500,000. Any amount above $375,000 will require evidence of insurability.

Benefits receive a 35% reduction at age 65 and a 50% reduction at age 70.

Sun Life will pay your beneficiaries an accidental death insurance amount that matches your basic life insurance
amount, if you die from a covered accident. Additional benefits are available for accidental injuries (i.e.
Dismemberment) such as loss of limbs, fingers, or sight. Refer to your certificate for a full list of covered accidental
injuries.

This benefit is completely paid for by Identity MSO. Remember to name your beneficiaries if you have not done so
already!

Can I access my life insurance if I become terminally ill?
You may apply to receive a portion of your life insurance to help cover medical and living expenses. This is called an
“Accelerated Benefit” and there are some important things to know about it, including that it is not long-term-care
insurance, it may be taxable and it may affect your eligibility for public assistance programs. It will also reduce the total
amount of the life insurance payment Sun Life pay to your beneficiary(ies).

Voluntary Life/AD&D – Sun Life Financial (100% Employee Paid)
Now is a good time to ask yourself if you need more coverage. In addition to your Basic Life and AD&D benefit, you are
eligible to enroll in additional Voluntary Life coverage for you and your dependents. Voluntary AD&D coverage is available
for you as well, but not your dependents.

• Employee benefit – in increments of $10,000 up to $200,000 not to exceed 5x annual salary. Evidence of Insurability
needed for amounts over $100,000 if you are a new hire. If you are not a new hire all amounts are subject to evidence
of insurability. Employee rates are based on employee age

• Spouse benefit –increments of $5,000 up to $100,000 not to exceed 50% of employee’s benefit amount. Evidence of
Insurability needed for amounts over $30,000 (all amounts if not a new hire); No AD&D benefit. Coverage ends when
you turn age 70. Spouse rates are based on spouse age

• Child benefit (15 days - age 26) –increments of $5,000 not to exceed $10,000. No AD&D benefit

Benefits receive a 35% reduction at age 65; 50% reduction at age 70

See Paychex for details on the rates

There will be a one-time open enrollment for all employees November 2020! If you currently have voluntary life insurance
through Anthem Blue Cross, you will be grandfathered your same coverage through Sun Life Financial, no medical
questions asked. After January 1, 2021, all requested amounts for voluntary life insurance will be subject to Evidence of
Insurability requirements, unless you are a new hire electing up to the guaranteed issue amount.

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