Page 19 - 2018-19 MYNEXUS Benefits Guide
P. 19
myNEXUS
VOLUNTARY LIFE AND Evidence of
AD&D INSURANCE Insurability (EOI)
Evidence of insurability is an
We understand for some families, the basic life and accidental death and application process in which you
dismemberment (AD&D) insurance benefit is not enough to provide long- complete a health questionnaire
term financial security. This is why myNEXUS is proud to offer a voluntary and submit it to our insurance
life and AD&D insurance option with competitive group rates through Cigna carrier. EOI is required under the
following circumstances.
so you can purchase the additional financial protection you need. In order
for coverage to be effective, you must be actively at work, or your spouse/ You previously waived
dependent children must be performing the activities of similarly situated the opportunity to elect
dependents, on the date coverage is effective. this coverage and are now
electing coverage for the
irst time
Employee Voluntary Life and AD&D
Insurance You are requesting over the
guaranteed issue amount
You are eligible to purchase voluntary life and AD&D insurance in increments If you elect coverage when
of $10,000 up to the lesser of 5 times salary or $350,000. Evidence of initially eligible, each year at
insurability (EOI) is required for amounts greater than $100,000. annual enrollment you may
increase your coverage by
Spouse Voluntary Life and AD&D Insurance $10,000 or your spouse’s
If you elect voluntary life coverage for yourself, you can also elect voluntary coverage by $5,000 without
submitting EOI, as long as
life and AD&D coverage for your spouse. You can purchase coverage in $5,000 your total coverage does
increments not to exceed 50% of the voluntary coverage you purchase for not exceed the employee
yourself. Your spouse’s coverage cannot exceed $150,000. EOI is required for or spouse EOI limit noted
amounts greater than $30,000. to the left. In order for
an increase in coverage
to be efective, you and
Dependent Voluntary Life and AD&D your dependents must be
Insurance actively at work as noted to
Dependent child life and AD&D coverage is available in flat amounts the left
depending on the age of the child. If your child is younger than 14 days, their Your elections are subject to
benefit amount is $500; 15 days to 6 months, $1,000; or 6 months to 26 years, a approval from our insurance
flat $10,000. carrier before considered inal.
Note: a dependent’s benefit cannot exceed 50% of the employee’s benefit amount.
19
VOLUNTARY LIFE AND Evidence of
AD&D INSURANCE Insurability (EOI)
Evidence of insurability is an
We understand for some families, the basic life and accidental death and application process in which you
dismemberment (AD&D) insurance benefit is not enough to provide long- complete a health questionnaire
term financial security. This is why myNEXUS is proud to offer a voluntary and submit it to our insurance
life and AD&D insurance option with competitive group rates through Cigna carrier. EOI is required under the
following circumstances.
so you can purchase the additional financial protection you need. In order
for coverage to be effective, you must be actively at work, or your spouse/ You previously waived
dependent children must be performing the activities of similarly situated the opportunity to elect
dependents, on the date coverage is effective. this coverage and are now
electing coverage for the
irst time
Employee Voluntary Life and AD&D
Insurance You are requesting over the
guaranteed issue amount
You are eligible to purchase voluntary life and AD&D insurance in increments If you elect coverage when
of $10,000 up to the lesser of 5 times salary or $350,000. Evidence of initially eligible, each year at
insurability (EOI) is required for amounts greater than $100,000. annual enrollment you may
increase your coverage by
Spouse Voluntary Life and AD&D Insurance $10,000 or your spouse’s
If you elect voluntary life coverage for yourself, you can also elect voluntary coverage by $5,000 without
submitting EOI, as long as
life and AD&D coverage for your spouse. You can purchase coverage in $5,000 your total coverage does
increments not to exceed 50% of the voluntary coverage you purchase for not exceed the employee
yourself. Your spouse’s coverage cannot exceed $150,000. EOI is required for or spouse EOI limit noted
amounts greater than $30,000. to the left. In order for
an increase in coverage
to be efective, you and
Dependent Voluntary Life and AD&D your dependents must be
Insurance actively at work as noted to
Dependent child life and AD&D coverage is available in flat amounts the left
depending on the age of the child. If your child is younger than 14 days, their Your elections are subject to
benefit amount is $500; 15 days to 6 months, $1,000; or 6 months to 26 years, a approval from our insurance
flat $10,000. carrier before considered inal.
Note: a dependent’s benefit cannot exceed 50% of the employee’s benefit amount.
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