Page 17 - ABM 2021 Benefit Guide AMPCO
P. 17
LIFE AND AD&D INSURANCE
Cigna Dependent Life Insurance
Dismemberment (AD&D) If you purchase voluntary life insurance for
ABM provides, at no cost to you, basic life yourself, ABM allows you to elect voluntary life
with accidental death and dismemberment insurance for your spouse and/or dependent
insurance administered through Cigna. This children. This beneit lets you purchase
coverage may ofer inancial protection to coverage on an after-tax basis.
you if you sufer certain debilitating injuries or
to your beneiciaries if you die. If you should Naming a Beneficiary
die in an accident, the accidental death For life and AD&D insurance coverage, you
and dismemberment coverage may pay an must name a beneiciary at abm.hrintouch.com.
increased beneit. The beneiciary is the person who will receive
the beneit in the event of your death. If you
Your Beneit ABM provides you with: name more than one beneiciary, be sure to
Basic Life of $10,000 indicate the beneit percentage you wish each
AD&D of $10,000 beneiciary to receive. The percentages must
add up to 100%. Beneiciaries may be changed
If you have a qualifying accident which at any time during the year.
results in the loss of limb(s) or eyesight,
you will receive a percentage of the Age Reduction
AD&D beneit
Beginning at age 65, your Basic Life beneit
Voluntary Life Insurance will be reduced to a percentage of the original
You are eligible to purchase voluntary life amount, as outlined below:
insurance at competitive group rates. You Age Reduced To
may elect up to the guaranteed issue amount 65 65%
without providing evidence of insurability. Your 70 45%
individual premium rate will depend on your 75 30%
age and must be paid on an after-tax basis. 80 25%
The premium rates and overall cost to you are
available on the enrollment website; please pay
special attention to the voluntary life screens.
ABM 17
Cigna Dependent Life Insurance
Dismemberment (AD&D) If you purchase voluntary life insurance for
ABM provides, at no cost to you, basic life yourself, ABM allows you to elect voluntary life
with accidental death and dismemberment insurance for your spouse and/or dependent
insurance administered through Cigna. This children. This beneit lets you purchase
coverage may ofer inancial protection to coverage on an after-tax basis.
you if you sufer certain debilitating injuries or
to your beneiciaries if you die. If you should Naming a Beneficiary
die in an accident, the accidental death For life and AD&D insurance coverage, you
and dismemberment coverage may pay an must name a beneiciary at abm.hrintouch.com.
increased beneit. The beneiciary is the person who will receive
the beneit in the event of your death. If you
Your Beneit ABM provides you with: name more than one beneiciary, be sure to
Basic Life of $10,000 indicate the beneit percentage you wish each
AD&D of $10,000 beneiciary to receive. The percentages must
add up to 100%. Beneiciaries may be changed
If you have a qualifying accident which at any time during the year.
results in the loss of limb(s) or eyesight,
you will receive a percentage of the Age Reduction
AD&D beneit
Beginning at age 65, your Basic Life beneit
Voluntary Life Insurance will be reduced to a percentage of the original
You are eligible to purchase voluntary life amount, as outlined below:
insurance at competitive group rates. You Age Reduced To
may elect up to the guaranteed issue amount 65 65%
without providing evidence of insurability. Your 70 45%
individual premium rate will depend on your 75 30%
age and must be paid on an after-tax basis. 80 25%
The premium rates and overall cost to you are
available on the enrollment website; please pay
special attention to the voluntary life screens.
ABM 17
