Page 7 - VSolvit 2021 Benefits Brochure
P. 7
VSolvit
2021 Employee Benefits Brochure
Additional Benefits
Unum Basic Life/AD&D‐ 100% Employer Paid
Your benefit amount is 1x your annual earnings up to $200K
Benefits receive a 35% reduction at age 65: 50% reduction at age 70
Unum Voluntary Life/AD&D – 100% Employee Paid
Employee benefit – up to 5x your salary in increments of $10K not to exceed $500K
New Hire Guaranteed Issue: $130,000
Spouse benefit – up to 100% of employee amount in increments of $5K not to exceed $500K
New Hire Guaranteed Issue: $25,000
Child benefit – up to 100% of employee amount in increments of $2K not to exceed $10K
Benefits receive a 35% reduction at age 65: 50% reduction at age 70
Unum Long Term Disability (LTD) and Short‐Term Disability (STD) – 100% Employer Paid
Long Term Disability is 60% of basic monthly earnings to a max of $10K per month
Benefits begin after 180 consecutive days of disability
Short Term Disability is 60% of your weekly earnings up to a weekly maximum of $2,308
Benefits begin on the 8th day of the accident and/or illness, up to 25 weeks
Unum Whole Life Insurance – 100% Employee Paid
Pays money to your family if you die. Helps them with basic living expenses, final arrangements, tuition and more
You can keep Whole Life as long as you want
How does Your cost will not increase as you age
it work? Benefit amount stays the same, does not decrease as you get older
Provides protection during your working years and into retirement
You: You can purchase $2,000 to $300,000 of coverage for yourself
Your Spouse (Individual Coverage): Available for your spouse (age 15‐80), even if you do not purchase
Who can coverage for yourself. You can purchase $2,000 to $75,000 of coverage for your spouse. Your Children
get coverage? (Individual Coverage): Your children and grandchildren can have individual coverage, even if you do
not get coverage for yourself. You can purchase a benefit amount of $2,000 to $50,000 of coverage
for each child.
Lifetime premium—You will have coverage as long as you make your payments. Your premiums
Here’s how
are spread out over your lifetime.
premiums Paid‐up at 70—If you are between 15 and 50, you can pay an adjusted premium, so your payments end
work
when you turn 70. Then you will continue to keep coverage with no more payments due.
A “Living” Benefit. You can request an early payout if you are expected to live 12 months or less.
What’s Portable. You can keep your coverage if you leave the company or retire.
included?
Long Term Care. You may be able to use your death benefit to pay for LTC. Subject to rider conditions.
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