Page 15 - Benefit Guide 2022

Life and AD&D Insurance Disability Insurance

Hillyard provides basic life and AD&D insurance for Disability insurance provides income replacement
employees and their dependents and offers volun- should you become disabled and unable to work
tary insurance options at affordable group rates. due to a non-work-related illness or injury.

Hillyard provides disability coverage at no cost as
Basic Employee Life and AD&D shown below.

Life insurance is an important part of your financial
wellbeing, especially if others depend on you for Coverage Benefit
support. Hillyard provides basic life and accidental
death and dismemberment insurance at no cost
equal to your prior year’s annual compensation. Eligibility
• Non-sales employees after
one year of employment
Basic Dependent Life Insurance Short-Term
Disability Weekly Benefit
Coverage for dependents is also provided by Hillyard
at no charge in the following increments: • 2 weeks paid at 100%
• 23 weeks paid at 60%
• $20,000 Spouse
• $10,000 Dependent Children up to age 26
• $1,000 Dependent Children less than 6 months Eligibility
• All benefit eligible employees
Voluntary Life and AD&D Insurance after one year of employment

You may choose to purchase additional life and Benefit Elimination Period
AD&D coverage for yourself and your dependents at • Non-Sales 180 days
affordable group rates. Rates are based on age and • Sales 120 days
coverage amount. Long-Term
Disability
• Employee coverage is available in increments of Monthly Benefit
$10,000, up to 5x your salary or $500,000 for • 60% of pre-disability earnings
to a maximum of $14,000
voluntary life insurance and up to $250,000 for
voluntary AD&D. • Benefits are offset with other
sources of income such as
• Amounts over the Guaranteed Issue requires Social Security and Workers’
evidence of insurability for voluntary life insur- Compensation.
ance. GI Amount is the lesser of three times
your annual rate of earnings or $200,000.
• Coverage for your spouse is available in incre-
ments of $10,000, not to exceed 50% of your
voluntary life coverage, up to a maximum of
$100,000.

• Voluntary life insurance for your children is avail-
able in $5,000 or $10,000 policies.

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