Page 14 - Michigan Economic Development Corp 2021 Renewal Information

MICHIGAN ECONOMIC DEVELOPMENT CORPORATION

JANUARY 1, 2021 LIFE AND DISABILITY RENEWAL
PREPARED BY: GREGORY D. BROGAN

Benefits UNUM

Life Insurance and AD & D
2 X Salary to a maximum $500,000
Guaranteed Issue $500,000
.11/.02

Voluntary Life
Employee - Increments of $5,000 up to $500,000
GI $100,000
Spouse -100% of employee election - GI $25,000
Child - $10,000 - GI $10,000 See rate table
$1.28 for Dep Life

Short term Disability
1/8/26, 60% of weekly earnings to a maximum
of $2000/week 0.40

Long term Disability - Voluntary
180 day elimination period, 60% of monthly
earnings to a maximum of $10,000/mo.
Two Year Own Occupation 0.381

UNUM gave a rate pass on all benefits for 2021