Page 16 - 2016 Open Enrollment
P. 16
Open Enrollment
Basic group variable life insurance and
accidental death and dismemberment
insurance is provided by Pericient at no Group Variable Life
cost to the employee through MetLife and
CIGNA, respectively. Insurance
Payroll deductions for coverage over the
Guarantee Issue limit and late entrant Group variable life insurance (GVUL) offers a tax-deferred
elections will not begin until approval has
been granted by the insurance company. investment opportunity. You may contribute extra premiums for
You and your HR manager will be notiied investment into your certiicate, allowing the extra premiums the
when a decision has been made. If potential to grow tax-deferred and build a cash value. The additional
approved, payroll deductions will begin at premium amounts you deposit can be invested in your choice of
the time of approval.
one or more investment portfolios that is managed by Fidelity, MFS,
To cancel coverage, an enrollment form Putman, DWS Scudder, T Rowe Price, or MetLife.
is required and should be completed as a
change or termination of coverage. Evidence of insurability (EOI) is required for elections over the
guarantee issue amount of $150,000 for employee coverage and
$10,000 for spouse coverage. EOI is required for anyone (employee,
spouse, and/or child) if you enroll after your new hire eligibility
MetLife also has additional services that period as you are considered a late entrant and coverage is subject
you may access through Hyatt Legal Plans’
network. They are: to approval by the insurance company. Any increases in coverage
outside of the initial eligibility period will also be subject to EOI and
Will preparation service approval by the insurance company. Anytime an employee wishes
Estate resolution services to increase or add voluntary coverage, he/she must complete an
enrollment form and EOI application.
Group variable life insurance through
MetLife is not a part of open enrollment. Basic GVUL and AD&D Coverage/Company Paid
Elections and changes can by made by Beneit Minimum of 2x your annual salary or $100,000 up to $400,000
contacting MetLife directly. For additional GVUL—Supplemental GVUL Life Coverage/Employee Paid
details, please contact the Beneits Team. Employee
Available in $50,000 increments and guarantee issue up to $150,000;
combined GVUL maximum coverage is not to exceed $2,000,000
Spouse
Available in $25,000 increments and guarantee issue up to $10,000;
maximum coverage is not to exceed $500,000 or 100% of employee’s coverage
Child(ren)
Available in amounts of $5,000 or $10,000
16
Basic group variable life insurance and
accidental death and dismemberment
insurance is provided by Pericient at no Group Variable Life
cost to the employee through MetLife and
CIGNA, respectively. Insurance
Payroll deductions for coverage over the
Guarantee Issue limit and late entrant Group variable life insurance (GVUL) offers a tax-deferred
elections will not begin until approval has
been granted by the insurance company. investment opportunity. You may contribute extra premiums for
You and your HR manager will be notiied investment into your certiicate, allowing the extra premiums the
when a decision has been made. If potential to grow tax-deferred and build a cash value. The additional
approved, payroll deductions will begin at premium amounts you deposit can be invested in your choice of
the time of approval.
one or more investment portfolios that is managed by Fidelity, MFS,
To cancel coverage, an enrollment form Putman, DWS Scudder, T Rowe Price, or MetLife.
is required and should be completed as a
change or termination of coverage. Evidence of insurability (EOI) is required for elections over the
guarantee issue amount of $150,000 for employee coverage and
$10,000 for spouse coverage. EOI is required for anyone (employee,
spouse, and/or child) if you enroll after your new hire eligibility
MetLife also has additional services that period as you are considered a late entrant and coverage is subject
you may access through Hyatt Legal Plans’
network. They are: to approval by the insurance company. Any increases in coverage
outside of the initial eligibility period will also be subject to EOI and
Will preparation service approval by the insurance company. Anytime an employee wishes
Estate resolution services to increase or add voluntary coverage, he/she must complete an
enrollment form and EOI application.
Group variable life insurance through
MetLife is not a part of open enrollment. Basic GVUL and AD&D Coverage/Company Paid
Elections and changes can by made by Beneit Minimum of 2x your annual salary or $100,000 up to $400,000
contacting MetLife directly. For additional GVUL—Supplemental GVUL Life Coverage/Employee Paid
details, please contact the Beneits Team. Employee
Available in $50,000 increments and guarantee issue up to $150,000;
combined GVUL maximum coverage is not to exceed $2,000,000
Spouse
Available in $25,000 increments and guarantee issue up to $10,000;
maximum coverage is not to exceed $500,000 or 100% of employee’s coverage
Child(ren)
Available in amounts of $5,000 or $10,000
16
