Page 12 - 2015 Reznor Union Enrollment Guide
P. 12
Open
Enrollment
Life and Disability Insurance
Life Insurance Optional Term Life Insurance Plan
Life insurance can provide valuable You may elect additional amounts of coverage in increments of
inancial protection and Reznor offers $10,000 up to $500,000 or ive times your annual earnings, whichever is
you the choice of different levels of less. This is in addition to your Basic Life. The additional amounts of
coverage to meet your needs. Reznor coverage are paid with post-tax dollars.
offers two Term Life Insurance Plans:
the Basic Term Life Insurance Plan We encourage you to view the education module at
and the Optional Term Life Insurance www.standard.com/presentations/nortek and to use the tool called
Plan. The Life Insurance Plans are “Determine My Life Needs” in the Workday site to determine what
insured and administered by the amount may meet your speciic needs. You will ind the link on the
Standard Life Insurance Company election page in Workday (http://www.standard.com/lifeneeds).
(The Standard).
Evidence of Insurability
Basic Term Life Insurance Employees will be allowed to elect coverage up to $300,000 for the
Plan 1/1/2015 election without submitting evidence of insurability. This
The Basic Term Life Insurance Plan is a one-time offering. Going forward, you must provide Evidence of
is provided automatically by Reznor, Insurability (EOI) and be approved by The Standard if
to employees working 840 working X You are newly hired and elect Optional Term Life Insurance
hours, at no cost to you. You will coverage in excess of $300,000
automatically receive Basic Term
Life Insurance of $25,000. The Life X You did not elect Optional Term Life previously and want to elect
Insurance Plan pays a lump sum this coverage during Beneits Open Enrollment
beneit to your beneiciary in the If Evidence of Insurability applies to you, you can click the link in
event of your death while actively Workday (http://www.standard.com/mybeneits/mhs_ho.html)
employed by Reznor. to complete the questionnaire online. Or you can contact your HR
representative for paper forms.
The Plan also can pay a living beneit.
If you become terminally ill, you
may elect to have the Plan pay out a
beneit while you are still living. Any
amount you receive will reduce the
beneit paid to your beneiciary.
12
Enrollment
Life and Disability Insurance
Life Insurance Optional Term Life Insurance Plan
Life insurance can provide valuable You may elect additional amounts of coverage in increments of
inancial protection and Reznor offers $10,000 up to $500,000 or ive times your annual earnings, whichever is
you the choice of different levels of less. This is in addition to your Basic Life. The additional amounts of
coverage to meet your needs. Reznor coverage are paid with post-tax dollars.
offers two Term Life Insurance Plans:
the Basic Term Life Insurance Plan We encourage you to view the education module at
and the Optional Term Life Insurance www.standard.com/presentations/nortek and to use the tool called
Plan. The Life Insurance Plans are “Determine My Life Needs” in the Workday site to determine what
insured and administered by the amount may meet your speciic needs. You will ind the link on the
Standard Life Insurance Company election page in Workday (http://www.standard.com/lifeneeds).
(The Standard).
Evidence of Insurability
Basic Term Life Insurance Employees will be allowed to elect coverage up to $300,000 for the
Plan 1/1/2015 election without submitting evidence of insurability. This
The Basic Term Life Insurance Plan is a one-time offering. Going forward, you must provide Evidence of
is provided automatically by Reznor, Insurability (EOI) and be approved by The Standard if
to employees working 840 working X You are newly hired and elect Optional Term Life Insurance
hours, at no cost to you. You will coverage in excess of $300,000
automatically receive Basic Term
Life Insurance of $25,000. The Life X You did not elect Optional Term Life previously and want to elect
Insurance Plan pays a lump sum this coverage during Beneits Open Enrollment
beneit to your beneiciary in the If Evidence of Insurability applies to you, you can click the link in
event of your death while actively Workday (http://www.standard.com/mybeneits/mhs_ho.html)
employed by Reznor. to complete the questionnaire online. Or you can contact your HR
representative for paper forms.
The Plan also can pay a living beneit.
If you become terminally ill, you
may elect to have the Plan pay out a
beneit while you are still living. Any
amount you receive will reduce the
beneit paid to your beneiciary.
12
