Page 21 - Harvard Maintenance Corporate 2022 Benefits Guide

Calendar Year 2022
Benefits Enrollment

Voluntary Employee Paid Term Life/AD&D

To supplement the coverage provided by your employer, you
can purchase additional term life insurance for yourself, from
$20,000 up to a maximum of the lesser of 5 times your basic
annual earnings or $500,000 . You must purchase this coverage
if you wish to purchase spouse (from $10,000 up to $250,000 in
$5,000 increments, not exceeding 50% of the employee amount)
and/or child term life ($10,000 for children 14 days old to age
26) . You may be able to retain this coverage on your own with
the same insurance carrier if you leave your employer .

Guaranteed Issue Amounts
Coverage up to the guaranteed issue amounts are available
when irst eligible for the plan without medical underwriting
questions . If you wish to become insured for an amount of term
life in excess of the guaranteed issue amount, the excess will be
subject to medical underwriting approval . All late applications are
also subject to medical underwriting approval .

Guaranteed issue amounts are as follows:

Employee = $150,000
Spouse = $30,000

Child(ren) = $10,000

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