Page 16 - 2018 Franke Enrollment
P. 16
Voluntary Spouse Life
If you elect voluntary life insurance coverage for yourself, you may
also purchase coverage for your spouse. You can purchase coverage in
increments of $5,000 up to a maximum of $150,000*. The cost per each
$5,000 of coverage is the same as the employee cost and is based on the
employee’s age. If you elect spouse coverage when initially eligible, you
may elect up to $30,000 of coverage without your spouse answering any
medical questions. If you do not elect spouse coverage when initially
eligible, you may not elect at a later date unless you or your spouse has
a qualifying event, at which time your spouse must submit evidence of
insurability and be approved before coverage will be effective.
Voluntary Dependent Life
If you elect coverage for yourself, you can also elect dependent child life
coverage. This coverage is available in a lat payment of $10,000.* If you
do not elect coverage when initially eligible, you may not elect coverage
until the next open enrollment period unless you or your dependent has a
qualifying event. Dependent life coverage is guaranteed, with no medical
questions required.
* Coverage will not be effective unless your spouse and/or dependent child(ren) are performing
the functions of similarly situated spouses/dependent children.
Dependents are eligible from 14 days old up until 26 years of age. The
rate for dependent child coverage is $0.92 per pay period. One premium
will insure all your eligible children, regardless of the number of children
you have.
16 2018 Benefits Enrollment
If you elect voluntary life insurance coverage for yourself, you may
also purchase coverage for your spouse. You can purchase coverage in
increments of $5,000 up to a maximum of $150,000*. The cost per each
$5,000 of coverage is the same as the employee cost and is based on the
employee’s age. If you elect spouse coverage when initially eligible, you
may elect up to $30,000 of coverage without your spouse answering any
medical questions. If you do not elect spouse coverage when initially
eligible, you may not elect at a later date unless you or your spouse has
a qualifying event, at which time your spouse must submit evidence of
insurability and be approved before coverage will be effective.
Voluntary Dependent Life
If you elect coverage for yourself, you can also elect dependent child life
coverage. This coverage is available in a lat payment of $10,000.* If you
do not elect coverage when initially eligible, you may not elect coverage
until the next open enrollment period unless you or your dependent has a
qualifying event. Dependent life coverage is guaranteed, with no medical
questions required.
* Coverage will not be effective unless your spouse and/or dependent child(ren) are performing
the functions of similarly situated spouses/dependent children.
Dependents are eligible from 14 days old up until 26 years of age. The
rate for dependent child coverage is $0.92 per pay period. One premium
will insure all your eligible children, regardless of the number of children
you have.
16 2018 Benefits Enrollment
