Page 13 - 2020 Stein Mart Benefits Guide - Weekly
P. 13
LIFE AND AD&D INSURANCE
Basic Life and Accidental Death and Dismemberment (AD&D)
We partner with Lincoln Financial to provide you with company paid basic
life and accidental death and dismemberment (AD&D) coverage.
Stein Mart automatically enrolls you with a benefit of $20,000 at no cost to
you. Benefits reduce after age 70 and age 75. There is an accelerated life
benefit available if you are diagnosed with a terminal illness.
Voluntary Life Insurance
We partner with Voya Financial to offer you the ability to purchase additional
life insurance. This coverage will provide you or your family with additional
financial protection if you or a family member experience a covered loss.
Associate Voluntary Life
You are eligible to purchase additional life insurance in increments of
$10,000 up to a maximum of $80,000.
Spouse Voluntary Life
If you elect coverage for yourself, you can elect voluntary life coverage
for your spouse in coverage levels of $10,000 or $20,000.
Dependent Voluntary Life
Eligibility starts at birth until age 26. If you elect coverage for yourself,
you can elect voluntary life coverage for your children in coverage
levels of:
$5,000 ($0.22 per week)
$10,000 ($0.45 per week)
Associate/Spouse Calculate your Cost
Monthly Rates per Follow the steps to calculate your weekly
$1,000 of Coverage rate based on the amount of insurance
elected OR logon to www.myworkplace.net
Associate or Monthly Rate to have the system automatically calculate
Spouse Age (non tobacco) your rate.
<24 $0.08
25-29 $0.09 Step 1 Enter the monthly rate based on
30-34 $0.11 age using the chart to the left: ___________
35-39 $0.12 Step 2 Divide the amount of insurance Guaranteed Issue
40-44 $0.13 elected by 1,000: _____________________ Voluntary Life Insurance is
45-49 $0.19 (Example: For $80,000 of coverage, enter “80”) guaranteed to each eligible
50-54 $0.28 Step 3 Multiply lines 1 and 2: ___________ associate who enrolls,
55-59 $0.51 (this is your monthly cost for amount of coverage) regardless of individual
60-64 $0.77 health status. No evidence
65-69 $1.46 Step 4 Multiple line 3 by 12: ____________ of insurability is required.
70+ $2.35 (this is your annual cost for amount of coverage)
Premiums shown are non-tobacco user Step 5 Divide line 4 by 52: _____________
rates. Tobacco user rates differ. (this is your weekly cost for amount of coverage)
Weekly Store and Weekly Corporate Associates 12
Department Merchandise Managers For 2020 Benefits
Basic Life and Accidental Death and Dismemberment (AD&D)
We partner with Lincoln Financial to provide you with company paid basic
life and accidental death and dismemberment (AD&D) coverage.
Stein Mart automatically enrolls you with a benefit of $20,000 at no cost to
you. Benefits reduce after age 70 and age 75. There is an accelerated life
benefit available if you are diagnosed with a terminal illness.
Voluntary Life Insurance
We partner with Voya Financial to offer you the ability to purchase additional
life insurance. This coverage will provide you or your family with additional
financial protection if you or a family member experience a covered loss.
Associate Voluntary Life
You are eligible to purchase additional life insurance in increments of
$10,000 up to a maximum of $80,000.
Spouse Voluntary Life
If you elect coverage for yourself, you can elect voluntary life coverage
for your spouse in coverage levels of $10,000 or $20,000.
Dependent Voluntary Life
Eligibility starts at birth until age 26. If you elect coverage for yourself,
you can elect voluntary life coverage for your children in coverage
levels of:
$5,000 ($0.22 per week)
$10,000 ($0.45 per week)
Associate/Spouse Calculate your Cost
Monthly Rates per Follow the steps to calculate your weekly
$1,000 of Coverage rate based on the amount of insurance
elected OR logon to www.myworkplace.net
Associate or Monthly Rate to have the system automatically calculate
Spouse Age (non tobacco) your rate.
<24 $0.08
25-29 $0.09 Step 1 Enter the monthly rate based on
30-34 $0.11 age using the chart to the left: ___________
35-39 $0.12 Step 2 Divide the amount of insurance Guaranteed Issue
40-44 $0.13 elected by 1,000: _____________________ Voluntary Life Insurance is
45-49 $0.19 (Example: For $80,000 of coverage, enter “80”) guaranteed to each eligible
50-54 $0.28 Step 3 Multiply lines 1 and 2: ___________ associate who enrolls,
55-59 $0.51 (this is your monthly cost for amount of coverage) regardless of individual
60-64 $0.77 health status. No evidence
65-69 $1.46 Step 4 Multiple line 3 by 12: ____________ of insurability is required.
70+ $2.35 (this is your annual cost for amount of coverage)
Premiums shown are non-tobacco user Step 5 Divide line 4 by 52: _____________
rates. Tobacco user rates differ. (this is your weekly cost for amount of coverage)
Weekly Store and Weekly Corporate Associates 12
Department Merchandise Managers For 2020 Benefits
