Page 11 - 2016 Enrollment
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Olshan Properties
Life and Accidental Death
& Dismemberment (AD&D)
Insurance Coverage
Olshan Properties provides basic life and AD&D insurance to all
eligible employees. This coverage pays a beneit to your named
beneiciary in the event of your death or certain debilitating injuries.
This beneit is $30,000 and paid for by Olshan Properties. This
beneit is offered through Lincoln Financial.
Voluntary Life
If you would like to purchase voluntary life insurance in addition to
your company paid beneit, Olshan Properties offers you the ability
to purchase voluntary life insurance. Voluntary life insurance can be
purchased in increments of $10,000 up to a maximum of 5x your
salary, or $500,000. Once you’ve elected coverage for yourself, you
can elect coverage for your spouse and/or dependent children.
You can elect coverage for your spouse in $5,000 increments to a
maximum 50 percent of the your elected beneit, or $50,000. You
can also elect coverage for your child(ren) in $2,000 increments to a
maximum of $10,000.
This year during open enrollment, Lincoln Financial will allow
employees or spouses to increase or elect coverage up to two
increments without submitting evidence of insurability. If you want
to increase your election more than two increments, evidence of
insurability will be required before Lincoln Financial will inalize and
approve your election. Going forward, employees or spouses will be
able to increase coverage up to two increments without submitting
evidence of insurability, but employees or spouses who have declined
coverage or withdrawn a coverage request will not be eligible for the
increase without submitting evidence of insurability.
11
Life and Accidental Death
& Dismemberment (AD&D)
Insurance Coverage
Olshan Properties provides basic life and AD&D insurance to all
eligible employees. This coverage pays a beneit to your named
beneiciary in the event of your death or certain debilitating injuries.
This beneit is $30,000 and paid for by Olshan Properties. This
beneit is offered through Lincoln Financial.
Voluntary Life
If you would like to purchase voluntary life insurance in addition to
your company paid beneit, Olshan Properties offers you the ability
to purchase voluntary life insurance. Voluntary life insurance can be
purchased in increments of $10,000 up to a maximum of 5x your
salary, or $500,000. Once you’ve elected coverage for yourself, you
can elect coverage for your spouse and/or dependent children.
You can elect coverage for your spouse in $5,000 increments to a
maximum 50 percent of the your elected beneit, or $50,000. You
can also elect coverage for your child(ren) in $2,000 increments to a
maximum of $10,000.
This year during open enrollment, Lincoln Financial will allow
employees or spouses to increase or elect coverage up to two
increments without submitting evidence of insurability. If you want
to increase your election more than two increments, evidence of
insurability will be required before Lincoln Financial will inalize and
approve your election. Going forward, employees or spouses will be
able to increase coverage up to two increments without submitting
evidence of insurability, but employees or spouses who have declined
coverage or withdrawn a coverage request will not be eligible for the
increase without submitting evidence of insurability.
11
