Page 22 - 2018 Carlstar Benefit Guide
P. 22
22 BENEFITS ENROLLMENT • 2018
Life and Accident
The Carlstar Group Life Insurance Program provides you with basic life and AD&D coverage, paid for 100% by The Carlstar
Group. You also may purchase additional life and/or AD&D protection at your cost for yourself and your dependents. Life
coverage is insured through The Standard.
Voluntary Supplemental Life insurance Basic Life Insurance
Employee and AD&D Insurance
Voluntary Supplemental Life insurance is available in amounts equal to one, two, Employee
three, four, or ive times your annual base pay. If the coverage amount you elect is not You are automatically enrolled
a multiple of $1,000, then it is rounded to the next higher multiple of $1,000. The for Basic Life Insurance
maximum amount of voluntary supplemental life is $500,000. and Accidental Death and
Dismemberment (AD&D)
If you apply for coverage which is equal to one, two, three, four, or ive times your
annual base pay within your initial eligibility period, your coverage will be effective on Insurance on the irst day you
the irst day of your eligibility for beneits coverage. If you do not obtain supplemental are eligible for coverage under
life insurance coverage during your initial eligibility period, all late applications and The Carlstar Group beneit
coverage increases will be subject to medical underwriting approval and require the plans. Basic Life Insurance and
completion of an Evidence of Insurability form (EOI). EOI and coverage level are AD&D coverage are equal to one
subject to approval by the insurer. times your annual base pay, up to
$500,000. If the coverage amount
When you enroll in the beneit plans, you should complete a beneiciary designation is not a multiple of $1,000, then
form online. Keep in mind changes in your family situation (such as marriage, divorce, it is rounded to the next higher
or new children) DO NOT automatically alter or revoke your previous designations. multiple of $1,000.
Therefore, it is important you review you beneiciary designation from time to time.
Based on current tax laws and
Spouse depending upon your age and
Dependent Life Insurance for your spouse is available in increments of the amount of your basic life
$10,000, $25,000, or $50,000. If you elect to increase the amount for your insurance coverage, you may have
spouse, the increase will be subject to medical underwriting approval and imputed income. The total amount
require the completion of an EOI form. Coverage will be effective on the irst of your imputed income for a
day your spouse is eligible. Your spouse becomes eligible for coverage on the calendar year is indicated on the
same day as you. W-2 form provided to you by The
Carlstar Group for that year.
Children
Dependent Life Insurance for your children is available in the amount of
$10,000. Coverage will be effective on the irst day your child is eligible and is
available to age 26 if your child is unmarried. Your children become eligible for
coverage on the same day as you.
Life and Accident
The Carlstar Group Life Insurance Program provides you with basic life and AD&D coverage, paid for 100% by The Carlstar
Group. You also may purchase additional life and/or AD&D protection at your cost for yourself and your dependents. Life
coverage is insured through The Standard.
Voluntary Supplemental Life insurance Basic Life Insurance
Employee and AD&D Insurance
Voluntary Supplemental Life insurance is available in amounts equal to one, two, Employee
three, four, or ive times your annual base pay. If the coverage amount you elect is not You are automatically enrolled
a multiple of $1,000, then it is rounded to the next higher multiple of $1,000. The for Basic Life Insurance
maximum amount of voluntary supplemental life is $500,000. and Accidental Death and
Dismemberment (AD&D)
If you apply for coverage which is equal to one, two, three, four, or ive times your
annual base pay within your initial eligibility period, your coverage will be effective on Insurance on the irst day you
the irst day of your eligibility for beneits coverage. If you do not obtain supplemental are eligible for coverage under
life insurance coverage during your initial eligibility period, all late applications and The Carlstar Group beneit
coverage increases will be subject to medical underwriting approval and require the plans. Basic Life Insurance and
completion of an Evidence of Insurability form (EOI). EOI and coverage level are AD&D coverage are equal to one
subject to approval by the insurer. times your annual base pay, up to
$500,000. If the coverage amount
When you enroll in the beneit plans, you should complete a beneiciary designation is not a multiple of $1,000, then
form online. Keep in mind changes in your family situation (such as marriage, divorce, it is rounded to the next higher
or new children) DO NOT automatically alter or revoke your previous designations. multiple of $1,000.
Therefore, it is important you review you beneiciary designation from time to time.
Based on current tax laws and
Spouse depending upon your age and
Dependent Life Insurance for your spouse is available in increments of the amount of your basic life
$10,000, $25,000, or $50,000. If you elect to increase the amount for your insurance coverage, you may have
spouse, the increase will be subject to medical underwriting approval and imputed income. The total amount
require the completion of an EOI form. Coverage will be effective on the irst of your imputed income for a
day your spouse is eligible. Your spouse becomes eligible for coverage on the calendar year is indicated on the
same day as you. W-2 form provided to you by The
Carlstar Group for that year.
Children
Dependent Life Insurance for your children is available in the amount of
$10,000. Coverage will be effective on the irst day your child is eligible and is
available to age 26 if your child is unmarried. Your children become eligible for
coverage on the same day as you.
