Page 19 - 2017 Benefits Enrollment Busey Pulaski
P. 19
2017 BENEFITS ENROLLMENT
Life and Disability Insurance
Basic Life Insurance
(company paid)
Busey provides, at no cost to you, basic life with accidental death and
dismemberment insurance. This coverage offers up to two times your
beneit compensation to a maximum of $200,000 to your beneiciaries
in the event of your death. Your life insurance beneit also includes
accidental death and dismemberment beneits. If you should die in an
accident, the plan will pay an additional AD&D beneit.
If you die while covered by this plan, the beneit is paid to the beneiciary
(or beneiciaries) you designate. This core life insurance coverage is paid in
full by Busey and is fully insured through AIG.
Voluntary Associate Life Insurance
(associate paid)
If you would like to purchase supplementary life insurance in addition
to your company paid beneits, Busey offers you the ability to purchase
voluntary life insurance at competitive group rates through AIG.
Associates have the option of electing up to $500,000 or a maximum of
5x your Beneit Compensation in $10,000 increments. The guaranteed
issue is $200,000.
Evidence of Insurability (EOI) or proof of good health is required under
the following circumstances.
Late entrant: you have previously waived the opportunity to elect this
coverage and are now electing coverage for the irst time
Current participant: you currently have this coverage and are
requesting an increase to your current coverage amount by more than
$20,000
Newly eligible: you have never been offered this coverage previously
or waived this coverage previously and you are requesting over the
guaranteed issue amount
FIRST BUSEY CORPORATION 19
Life and Disability Insurance
Basic Life Insurance
(company paid)
Busey provides, at no cost to you, basic life with accidental death and
dismemberment insurance. This coverage offers up to two times your
beneit compensation to a maximum of $200,000 to your beneiciaries
in the event of your death. Your life insurance beneit also includes
accidental death and dismemberment beneits. If you should die in an
accident, the plan will pay an additional AD&D beneit.
If you die while covered by this plan, the beneit is paid to the beneiciary
(or beneiciaries) you designate. This core life insurance coverage is paid in
full by Busey and is fully insured through AIG.
Voluntary Associate Life Insurance
(associate paid)
If you would like to purchase supplementary life insurance in addition
to your company paid beneits, Busey offers you the ability to purchase
voluntary life insurance at competitive group rates through AIG.
Associates have the option of electing up to $500,000 or a maximum of
5x your Beneit Compensation in $10,000 increments. The guaranteed
issue is $200,000.
Evidence of Insurability (EOI) or proof of good health is required under
the following circumstances.
Late entrant: you have previously waived the opportunity to elect this
coverage and are now electing coverage for the irst time
Current participant: you currently have this coverage and are
requesting an increase to your current coverage amount by more than
$20,000
Newly eligible: you have never been offered this coverage previously
or waived this coverage previously and you are requesting over the
guaranteed issue amount
FIRST BUSEY CORPORATION 19
