Page 19 - 2019 Benefits Enrollment
P. 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. 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 Symetra.
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 Symetra.
Associates have the option to elect the lesser of $500,000 or 5× 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
and you are requesting over the guaranteed issue amount
Beneficiary Information
During annual open enrollment, please use this time to verify your life insurance
beneiciary information.
First Busey Corporation 19
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. 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 Symetra.
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 Symetra.
Associates have the option to elect the lesser of $500,000 or 5× 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
and you are requesting over the guaranteed issue amount
Beneficiary Information
During annual open enrollment, please use this time to verify your life insurance
beneiciary information.
First Busey Corporation 19
