Page 18 - 2019 Franke Enrollment Guide
P. 18
2019 BENEFITS ENROLLMENT
Voluntary Spouse Life
If you elect voluntary life insurance coverage for yourself, you may also
purchase coverage for your spouse. You can purchase coverage in increments
of $5,000 up to a maximum of $150,000*. The cost per each $5,000 of coverage
is the same as the employee cost and is based on the employee’s age. If you
elect coverage for your spouse when initially eligible, each year at open
enrollment you may increase your spouse’s coverage by $5,000 up to $30,000
without EOI.
A true open enrollment will be ofered for 2019. This means you
have the opportunity to enroll or increase current elections up to the
guarantee issue amount of $30,000 without completing evidence of
insurability (EOI).
Voluntary Dependent Life
If you elect coverage for yourself, you can also elect dependent child life
coverage. This coverage is available in a flat payment of $10,000.* If you do not
elect coverage when initially eligible, you may not elect coverage until the next
open enrollment period unless you or your dependent has a qualifying event.
Dependent life coverage is guaranteed, with no medical questions required.
* Coverage will not be effective unless your spouse and/or dependent child(ren) are
performing the functions of similarly situated spouses/dependent children.
Dependents are eligible from 14 days old up until 26 years of age. The rate for
dependent child coverage is $0.92 per pay period. One premium will insure all
your eligible children, regardless of the number of children you have.
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Voluntary Spouse Life
If you elect voluntary life insurance coverage for yourself, you may also
purchase coverage for your spouse. You can purchase coverage in increments
of $5,000 up to a maximum of $150,000*. The cost per each $5,000 of coverage
is the same as the employee cost and is based on the employee’s age. If you
elect coverage for your spouse when initially eligible, each year at open
enrollment you may increase your spouse’s coverage by $5,000 up to $30,000
without EOI.
A true open enrollment will be ofered for 2019. This means you
have the opportunity to enroll or increase current elections up to the
guarantee issue amount of $30,000 without completing evidence of
insurability (EOI).
Voluntary Dependent Life
If you elect coverage for yourself, you can also elect dependent child life
coverage. This coverage is available in a flat payment of $10,000.* If you do not
elect coverage when initially eligible, you may not elect coverage until the next
open enrollment period unless you or your dependent has a qualifying event.
Dependent life coverage is guaranteed, with no medical questions required.
* Coverage will not be effective unless your spouse and/or dependent child(ren) are
performing the functions of similarly situated spouses/dependent children.
Dependents are eligible from 14 days old up until 26 years of age. The rate for
dependent child coverage is $0.92 per pay period. One premium will insure all
your eligible children, regardless of the number of children you have.
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