Page 13 - 2015 Reznor Union Enrollment Guide
P. 13
Nortek
Monthly Cost of Coverage
You pay a monthly premium for each $1,000 of coverage. Your
premium is based on your age as of January 1.
Employee Age Employee and Spouse Voluntary Life Rates
(Monthly cost per $1,000)
Less than 29 $0 .033
30-34 $0 .044
35-39 $0 .077
40-44 $0 .126
45-49 $0 .214
50-54 $0 .364
55-59 $0 .452
60-64 $0 .695
65-69 $1 .100
70 and older $1 .745
How to Calculate Your Optional Term Life Monthly Premium Cost
Example: an employee, age 41, with an annual salary of $40,000, elects
Optional Term Life Insurance of 3x salary ($120,000).
Amount of Optional Term Life Insurance $120,000
Divide by 1,000 120
Multiply rate at age 41, from table above $0 .077
Your total monthly premium $9 .24
Salary Continuation
Reznor’s Salary Continuation Plan can replace some of your income if
you become ill or injured and cannot work. You are eligible to receive
this beneit after you have completed 840 working hours. This beneit
is provided at no cost to you. For more detailed information, contact
your local HR representative.
Disability Coverage * Your Cost of
Coverage
Salary Employees receive $400 a week for up $0
Continuation to 26 weeks; beneits begin on the 1st
Plan for up to day following an accident and 7th day for
26 weeks sickness
* To receive disability beneits, you must be able to provide proof of disability and must be
under a doctor’s care consistent with your medical condition.
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Monthly Cost of Coverage
You pay a monthly premium for each $1,000 of coverage. Your
premium is based on your age as of January 1.
Employee Age Employee and Spouse Voluntary Life Rates
(Monthly cost per $1,000)
Less than 29 $0 .033
30-34 $0 .044
35-39 $0 .077
40-44 $0 .126
45-49 $0 .214
50-54 $0 .364
55-59 $0 .452
60-64 $0 .695
65-69 $1 .100
70 and older $1 .745
How to Calculate Your Optional Term Life Monthly Premium Cost
Example: an employee, age 41, with an annual salary of $40,000, elects
Optional Term Life Insurance of 3x salary ($120,000).
Amount of Optional Term Life Insurance $120,000
Divide by 1,000 120
Multiply rate at age 41, from table above $0 .077
Your total monthly premium $9 .24
Salary Continuation
Reznor’s Salary Continuation Plan can replace some of your income if
you become ill or injured and cannot work. You are eligible to receive
this beneit after you have completed 840 working hours. This beneit
is provided at no cost to you. For more detailed information, contact
your local HR representative.
Disability Coverage * Your Cost of
Coverage
Salary Employees receive $400 a week for up $0
Continuation to 26 weeks; beneits begin on the 1st
Plan for up to day following an accident and 7th day for
26 weeks sickness
* To receive disability beneits, you must be able to provide proof of disability and must be
under a doctor’s care consistent with your medical condition.
13
