Page 20 - 2019 Benefits Enrollment
P. 20
Voluntary Spouse Life Voluntary Child(ren) Life Insurance
Insurance (Associate Paid) (Associate Paid)
Once you elect coverage for If you’ve elected coverage for yourself, voluntary child life insurance
yourself, you can elect voluntary is also available to purchase. Children are eligible for a lat $10,000 of
life insurance coverage for your coverage from birth to age 19 or 26 if a full-time student.
spouse. You can elect up to
$250,000 not to exceed 50% of Voluntary Dependent Life Insurance
your elected amount in $5,000 (Associate Paid)
increments for your spouse. The In addition to the voluntary spouse and child(ren) life insurance, you can
guaranteed issue amount for your elect a lat $15,000 for your spouse and $10,000 for children. You do not
spouse is $100,000. EOI is required need to elect coverage for yourself in order to elect coverage for your
if you have previously waived spouse and child(ren). EOI may be required under certain circumstances.
this coverage, are increasing your
existing coverage by more than Voluntary Short Term Disability (Associate Paid)
$10,000, or are electing coverage Voluntary short term disability (STD) provides you with a percentage
greater than the guaranteed issue of your weekly income while you are out of work following a non-work
amount. related accident or illness. You may purchase STD coverage at competitive
group rates. This beneit is offered through Symetra. New for 2019, Busey
Pre-disability earnings means your will offer 2 STD options, the current Base, and a new Buy-up option.
gross weekly rate of earnings as
reported on the prior calendar Base Plan—Pays 60% beneit up to a maximum of $1,000
year’s W-2 form from the employer
in effect just prior to the date Buy-up Plan for Beneit Compensation equal to or greater than
disability begins, or for the period $86,667—Pays 66.67% beneit up to a maximum of $1,500
of employment if no W-2 form
was received. If your job title is Please note, EOI will be required if you have previously waived this
Mortgage Originator or Financial
Advisor and you have not yet coverage. For those associates currently on the Base plan, EOI will not be
received a full year’s W-2, your pre- required if you switch to the Buy-up plan. Both plans are subject to pre-
disability earnings will be based on existing condition rules, which are outlined in the certiicate of insurance.
an annual salary of $75,000. Once
you have received a full year’s W-2,
your pre-disability earnings will be Long Term Disability (Company Paid)
based on the prior year W-2. A full Long term disability (LTD) protects your family’s inancial circumstances
year’s W-2 will be deined as a full
calendar year’s worth of work over by providing you with a percentage of your income while you are
the 12 months, January through disabled. Busey provides an LTD beneit at no cost to you. In the event
December. of an illness or accident which requires a lengthy recovery, you may be
eligible for company provided Long Term Disability coverage. This
beneit is offered through Symetra.
20 2019 Benefits Enrollment
Insurance (Associate Paid) (Associate Paid)
Once you elect coverage for If you’ve elected coverage for yourself, voluntary child life insurance
yourself, you can elect voluntary is also available to purchase. Children are eligible for a lat $10,000 of
life insurance coverage for your coverage from birth to age 19 or 26 if a full-time student.
spouse. You can elect up to
$250,000 not to exceed 50% of Voluntary Dependent Life Insurance
your elected amount in $5,000 (Associate Paid)
increments for your spouse. The In addition to the voluntary spouse and child(ren) life insurance, you can
guaranteed issue amount for your elect a lat $15,000 for your spouse and $10,000 for children. You do not
spouse is $100,000. EOI is required need to elect coverage for yourself in order to elect coverage for your
if you have previously waived spouse and child(ren). EOI may be required under certain circumstances.
this coverage, are increasing your
existing coverage by more than Voluntary Short Term Disability (Associate Paid)
$10,000, or are electing coverage Voluntary short term disability (STD) provides you with a percentage
greater than the guaranteed issue of your weekly income while you are out of work following a non-work
amount. related accident or illness. You may purchase STD coverage at competitive
group rates. This beneit is offered through Symetra. New for 2019, Busey
Pre-disability earnings means your will offer 2 STD options, the current Base, and a new Buy-up option.
gross weekly rate of earnings as
reported on the prior calendar Base Plan—Pays 60% beneit up to a maximum of $1,000
year’s W-2 form from the employer
in effect just prior to the date Buy-up Plan for Beneit Compensation equal to or greater than
disability begins, or for the period $86,667—Pays 66.67% beneit up to a maximum of $1,500
of employment if no W-2 form
was received. If your job title is Please note, EOI will be required if you have previously waived this
Mortgage Originator or Financial
Advisor and you have not yet coverage. For those associates currently on the Base plan, EOI will not be
received a full year’s W-2, your pre- required if you switch to the Buy-up plan. Both plans are subject to pre-
disability earnings will be based on existing condition rules, which are outlined in the certiicate of insurance.
an annual salary of $75,000. Once
you have received a full year’s W-2,
your pre-disability earnings will be Long Term Disability (Company Paid)
based on the prior year W-2. A full Long term disability (LTD) protects your family’s inancial circumstances
year’s W-2 will be deined as a full
calendar year’s worth of work over by providing you with a percentage of your income while you are
the 12 months, January through disabled. Busey provides an LTD beneit at no cost to you. In the event
December. of an illness or accident which requires a lengthy recovery, you may be
eligible for company provided Long Term Disability coverage. This
beneit is offered through Symetra.
20 2019 Benefits Enrollment
