Page 16 - 2015 OE Sample Guidebook
P. 16
OTHER ANCILLARY BENEFITS
Life and Accidental
Death and
Dismemberment
(AD&D) Insurance If you elect Optional Term Life Insurance coverage for yourself,
Basic Term Life and AD&D Insurance you can also elect to cover yourself and your dependents under the
is provided to all eligible employees at Voluntary Accidental Death and Dismemberment Insurance Plan.
no cost. You also have the option to The beneit amount is based on the Optional Term Life Insurance
purchase Optional Term Life Insurance coverage that you elect for yourself as noted in the following table.
for you, your spouse and dependent A portion of your beneits may also be payable for loss of sight or
children. dismemberment in an accident.
Coverage Beneit
Basic Term Life and $10,000 beneit (beneits double if death is
AD&D Insurance * accidental) *
Beneit increases $1,000 per year for each year
of service you complete after 5 years
Optional Term Life Insurance *
For you $10,000 increments to $100,000, then $25,000
increments up to the lesser of 5x your covered
annual earnings or $300,000 **
For your spouse $5,000 increments to the lesser of $50,000 or 50%
of your Optional coverage
For your dependent Flat $5,000 or $10,000 beneit
children
Voluntary AD&D Insurance
For you 100% of employee life insurance coverage
For yourself and 100% of employee life insurance coverage for you
spouse and 50% for your spouse
For yourself and 100% of employee life insurance coverage for you
children and 15% for each child
For yourself, spouse, 100% of employee life insurance coverage for you,
and children 40% for your spouse, and 10% for each child
* At age 70 to 74, coverage is reduced to 65% of the original coverage amount. At
age 75 or older, coverage is reduced to 50% of the original amount. The reduction
applies on January 1 following the year you turn age 70 or age 75.
** Evidence of Insurability is required for amounts exceeding $150,000.
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Life and Accidental
Death and
Dismemberment
(AD&D) Insurance If you elect Optional Term Life Insurance coverage for yourself,
Basic Term Life and AD&D Insurance you can also elect to cover yourself and your dependents under the
is provided to all eligible employees at Voluntary Accidental Death and Dismemberment Insurance Plan.
no cost. You also have the option to The beneit amount is based on the Optional Term Life Insurance
purchase Optional Term Life Insurance coverage that you elect for yourself as noted in the following table.
for you, your spouse and dependent A portion of your beneits may also be payable for loss of sight or
children. dismemberment in an accident.
Coverage Beneit
Basic Term Life and $10,000 beneit (beneits double if death is
AD&D Insurance * accidental) *
Beneit increases $1,000 per year for each year
of service you complete after 5 years
Optional Term Life Insurance *
For you $10,000 increments to $100,000, then $25,000
increments up to the lesser of 5x your covered
annual earnings or $300,000 **
For your spouse $5,000 increments to the lesser of $50,000 or 50%
of your Optional coverage
For your dependent Flat $5,000 or $10,000 beneit
children
Voluntary AD&D Insurance
For you 100% of employee life insurance coverage
For yourself and 100% of employee life insurance coverage for you
spouse and 50% for your spouse
For yourself and 100% of employee life insurance coverage for you
children and 15% for each child
For yourself, spouse, 100% of employee life insurance coverage for you,
and children 40% for your spouse, and 10% for each child
* At age 70 to 74, coverage is reduced to 65% of the original coverage amount. At
age 75 or older, coverage is reduced to 50% of the original amount. The reduction
applies on January 1 following the year you turn age 70 or age 75.
** Evidence of Insurability is required for amounts exceeding $150,000.
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