Page 20 - 2018 Busey Benefit Guide
P. 20
2018 BENEFITS ENROLLMENT
Voluntary Spouse Life Insurance
(associate paid)
Once you elect coverage for yourself, you can elect voluntary life insurance
coverage for your spouse. You can elect up to $250,000 not to exceed 50
percent of your elected amount in $5,000 increments for your spouse. The
guaranteed issue amount for your spouse is $100,000. EOI is required if you
have previously waived this coverage, are increasing your existing coverage by
more than $10,000, or are electing coverage greater than the guaranteed issue
amount.
Voluntary Child(ren) Life Insurance
(associate paid)
If you’ve elected coverage for yourself, voluntary child life insurance is also
available to purchase. Children are eligible for a lat $10,000 of coverage from
birth to age 19 or 26 if a full-time student.
Voluntary Dependent Life Insurance
(associate paid)
In addition to the voluntary spouse and child(ren) life insurance, you can elect
a lat $15,000 for your spouse and $10,000 for children. You do not need to
elect coverage for yourself in order to elect coverage for your spouse and
child(ren). EOI may be required under certain circumstances.
Voluntary Short Term Disability
(associate paid)
Voluntary short term disability (STD) provides you with a percentage of
your weekly income while you are out of work following a non-work related
accident or illness. You may purchase STD coverage at competitive group
rates. This beneit is offered through Symetra. You will need to complete EOI
if you previously waived this coverage.
Long Term Disability
(company paid)
Long term disability (LTD) protects your family’s inancial circumstances
by providing you with a percentage of your income while you are disabled.
Busey provides an LTD beneit at no cost to you. In the event of an illness or
accident which requires a lengthy recovery, you may be eligible for company
provided Long Term Disability coverage. This beneit is offered through
Symetra.
20 FIRST BUSEY CORPORATION
Voluntary Spouse Life Insurance
(associate paid)
Once you elect coverage for yourself, you can elect voluntary life insurance
coverage for your spouse. You can elect up to $250,000 not to exceed 50
percent of your elected amount in $5,000 increments for your spouse. The
guaranteed issue amount for your spouse is $100,000. EOI is required if you
have previously waived this coverage, are increasing your existing coverage by
more than $10,000, or are electing coverage greater than the guaranteed issue
amount.
Voluntary Child(ren) Life Insurance
(associate paid)
If you’ve elected coverage for yourself, voluntary child life insurance is also
available to purchase. Children are eligible for a lat $10,000 of coverage from
birth to age 19 or 26 if a full-time student.
Voluntary Dependent Life Insurance
(associate paid)
In addition to the voluntary spouse and child(ren) life insurance, you can elect
a lat $15,000 for your spouse and $10,000 for children. You do not need to
elect coverage for yourself in order to elect coverage for your spouse and
child(ren). EOI may be required under certain circumstances.
Voluntary Short Term Disability
(associate paid)
Voluntary short term disability (STD) provides you with a percentage of
your weekly income while you are out of work following a non-work related
accident or illness. You may purchase STD coverage at competitive group
rates. This beneit is offered through Symetra. You will need to complete EOI
if you previously waived this coverage.
Long Term Disability
(company paid)
Long term disability (LTD) protects your family’s inancial circumstances
by providing you with a percentage of your income while you are disabled.
Busey provides an LTD beneit at no cost to you. In the event of an illness or
accident which requires a lengthy recovery, you may be eligible for company
provided Long Term Disability coverage. This beneit is offered through
Symetra.
20 FIRST BUSEY CORPORATION
