Page 16 - T:\HR\Div\Employee Services (Cust_None)\Flipbuilder\Benefits Resource Guide FB Project\

Life insurance

Company-paid group life insurance
Texas Mutual provides company-paid group life and accidental death
insurance through Voya Financial. The benefit amount is equal to one-and
one-half times your annual salary, rounded up to the nearest $1,000, subject
to a $750,000 maximum. For full benefit details, refer to the benefit plan
summaries posted on the HR page of the intranet.

Supplemental term life insurance
Within the first 31 days of your hire date, you may purchase and receive
automatic approval for employee supplemental life insurance up to $250,000
and spouse life insurance up to $70,000. To purchase supplemental spouse life
insurance, you must also purchase supplemental life insurance for yourself in
an equal or greater amount. The maximum you may purchase is $500,000. If
you elect more than the automatic approval amounts, Voya Financial will
email you an application to complete for the amount(s) that are above the
guarantee issue amount.
If you experience a qualify life change (e.g., marriage) you may elect to
purchase supplemental life insurance for yourself and/or for your spouse, or
Age Bracket $10,000 increase your current coverage, up to the guaranteed issue amounts within 31
<30 0.90 days of event. After this period, any increase in coverage amount or new
enrollment will be subject to medical underwriting.
30-34 1.00
35-39 1.20 During annual open enrollment, you may elect to purchase or increase
supplemental life insurance for yourself and/or your spouse by $10,000 on a
40-44 1.50 guarantee issue basis. If you elect to increase your coverage or your spouse’s
45-49 2.20 coverage by more than $10,000, Voya Financial will email you an application
to complete for the amount(s) that are above the guarantee issue amount.
50-54 3.40
55-59 5.30 Monthly cost for supplemental life coverage
The cost per $10,000 is based on the age brackets shown on the left. The rates
60-64 9.20
for supplemental life insurance for your coverage and your spouse’s coverage
65-69 15.90 are based on the amount of coverage selected and your age at the time of
70+ 35.60 enrollment. Your cost for coverage will change at the beginning of the plan
year during which you reach a new age bracket.

To determine your cost, divide the amount you wish to purchase by 10,000,
and then multiply that by the rate shown in your age bracket below. For
example, if you are 45 and wish to purchase $100,000, that is 10 increments x
$2.20 which equates to a monthly premium of $22.00. You can also see the
premium cost in Workday when you make your benefit elections.
Dependent term life insurance
You have the option to purchase dependent term life insurance of $10,000 for
your dependent child(ren) up to age 26 with no medical underwriting. The
monthly cost is $1.00 and covers each of your eligible child(ren).
Record your life insurance beneficiary
To record your life insurance beneficiary, log in to Workday and click on the
benefits worklet. Then click benefits under the change column, and then
select beneficiary change as the benefit event type. Follow the Workday help
text to complete this task.

Employee Benefits Guide 13