Page 14 - 2019 Heico Core Benefits Guide
P. 14
2019 | The Heico Companies Enrollment Guide
Life and Accidental Death & Dismemberment
(AD&D)
Lincoln Financial Group
Heico provides Basic Life and AD&D in the amount of 1�5x your salary up to $500,000 at no cost to you through Lincoln Financial
Group
Voluntary Programs
Employees have the opportunity to purchase Voluntary Life/AD&D up to the Voluntary AD&D Premiums
(Monthly Rate Per $10,000 of Coverage)
guaranteed issue amount without underwriting if electing coverage when initially Employee $0�035
eligible� Electing coverage when not first eligible or for more than the guaranteed Family $0�045
amount requires evidence of insurability�
Voluntary Life Premiums
Voluntary Life (Monthly Rate Per $1,000 of Coverage)
Employee coverage: one-half, one, two or three times salary to a maximum of Age Employee
$500,000 (amounts greater than $300,000 require evidence of insurability and <30 $0�080
underwriting approval) 30-34 $0�090
Spouse coverage: $5,000; $10,000; $15,000 or $20,000 not to exceed 100% of 35-39 $0�120
employee voluntary life insurance 40-44 $0�160
Child(ren) coverage: $2,000; $5,000; $10,000; $15,000 or $20,000 not to exceed 45-49 $0�240
100% of employee voluntary life insurance� Children between the ages of 14 50-54 $0�410
days and 6 months are eligible for a benefit of $250� Children younger than 14 55-59 $0�700
days are not eligible for any benefit� 60-64 $1�040
65-69 $1�610
Voluntary AD&D 70-74 $2�480
Benefit Amount: purchased in increments of $10,000 up to $750,000 maximum 75-79 $4�060
(amounts over $400,000 are subject to ten times annual salary) 80+ $6�550
Employee Coverage: 100% of elected benefit amount
Voluntary Life Premiums
OR (Monthly Rate per $1,000 of Coverage)
Spouse $0�198
Family Coverage: 100% of elected employee coverage PLUS Child(ren) $0�120
60% for spouse, if no children
To calculate monthly premium—($ amount of
50% for spouse and 15% for each child requested additional insurance/$1,000) x Rate
20% for each child, if no spouse (found on table to left) = Monthly Premium.
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Life and Accidental Death & Dismemberment
(AD&D)
Lincoln Financial Group
Heico provides Basic Life and AD&D in the amount of 1�5x your salary up to $500,000 at no cost to you through Lincoln Financial
Group
Voluntary Programs
Employees have the opportunity to purchase Voluntary Life/AD&D up to the Voluntary AD&D Premiums
(Monthly Rate Per $10,000 of Coverage)
guaranteed issue amount without underwriting if electing coverage when initially Employee $0�035
eligible� Electing coverage when not first eligible or for more than the guaranteed Family $0�045
amount requires evidence of insurability�
Voluntary Life Premiums
Voluntary Life (Monthly Rate Per $1,000 of Coverage)
Employee coverage: one-half, one, two or three times salary to a maximum of Age Employee
$500,000 (amounts greater than $300,000 require evidence of insurability and <30 $0�080
underwriting approval) 30-34 $0�090
Spouse coverage: $5,000; $10,000; $15,000 or $20,000 not to exceed 100% of 35-39 $0�120
employee voluntary life insurance 40-44 $0�160
Child(ren) coverage: $2,000; $5,000; $10,000; $15,000 or $20,000 not to exceed 45-49 $0�240
100% of employee voluntary life insurance� Children between the ages of 14 50-54 $0�410
days and 6 months are eligible for a benefit of $250� Children younger than 14 55-59 $0�700
days are not eligible for any benefit� 60-64 $1�040
65-69 $1�610
Voluntary AD&D 70-74 $2�480
Benefit Amount: purchased in increments of $10,000 up to $750,000 maximum 75-79 $4�060
(amounts over $400,000 are subject to ten times annual salary) 80+ $6�550
Employee Coverage: 100% of elected benefit amount
Voluntary Life Premiums
OR (Monthly Rate per $1,000 of Coverage)
Spouse $0�198
Family Coverage: 100% of elected employee coverage PLUS Child(ren) $0�120
60% for spouse, if no children
To calculate monthly premium—($ amount of
50% for spouse and 15% for each child requested additional insurance/$1,000) x Rate
20% for each child, if no spouse (found on table to left) = Monthly Premium.
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