Page 9 - ARCO Construction 2015 Benefits Guide
P. 9
2015 Associate Benefits
Life and AD&D
Life and Accidental Death &
Dismemberment Insurance
ARCO/Murray provides all full-time active associates with basic term life
and a matching Accidental Death & Dismemberment beneit of 1 / 2 times
1
salary to $250,000. This beneit is administered by Reliance Standard at no
cost to you.
Supplemental Term Life Insurance
Active associates can elect additional group term life insurance for
themselves, their spouses, and their children.
Associates will be able to elect in $10,000 increments, up to $500,000. You
can even receive up to $100,000 without providing medical evidence of
good health if you are under 60 years of age.
For your spouse, you can elect an amount in $10,000 increments up to
$500,000. Medical evidence is not required for amounts up to $20,000 if
they are under 60 years of age.
Finally, you can choose coverage for your children in the following options
(no medical questions will be required):
Option 1 Option 2 Option 3 Option 4
14 days to 6 $1,000 $1,000 $1,000 $1,000
months
6 months to $2,500 $5,000 $7,500 $10,000
age 20/26
Evidence of Insurability Requirements
Employees within their newly eligible period have the ability to elect
Voluntary Life Insurance up to the guarantee issue without having to
complete evidence of insurability (EOI). If you are not in your newly
eligible period or wish to elect more than the guarantee issue, you will need
to complete EOI for any Voluntary Life election or increase to current
election. Reliance Standard will then approve or deny the election based on
the results from the EOI.
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Life and AD&D
Life and Accidental Death &
Dismemberment Insurance
ARCO/Murray provides all full-time active associates with basic term life
and a matching Accidental Death & Dismemberment beneit of 1 / 2 times
1
salary to $250,000. This beneit is administered by Reliance Standard at no
cost to you.
Supplemental Term Life Insurance
Active associates can elect additional group term life insurance for
themselves, their spouses, and their children.
Associates will be able to elect in $10,000 increments, up to $500,000. You
can even receive up to $100,000 without providing medical evidence of
good health if you are under 60 years of age.
For your spouse, you can elect an amount in $10,000 increments up to
$500,000. Medical evidence is not required for amounts up to $20,000 if
they are under 60 years of age.
Finally, you can choose coverage for your children in the following options
(no medical questions will be required):
Option 1 Option 2 Option 3 Option 4
14 days to 6 $1,000 $1,000 $1,000 $1,000
months
6 months to $2,500 $5,000 $7,500 $10,000
age 20/26
Evidence of Insurability Requirements
Employees within their newly eligible period have the ability to elect
Voluntary Life Insurance up to the guarantee issue without having to
complete evidence of insurability (EOI). If you are not in your newly
eligible period or wish to elect more than the guarantee issue, you will need
to complete EOI for any Voluntary Life election or increase to current
election. Reliance Standard will then approve or deny the election based on
the results from the EOI.
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