Page 14 - Think Goodness Enrollment Guide

LIFE INSURANCE AND

DISABILITY

Life and AD&D Insurance Disability Insurance
Think Goodness provides basic life and AD&D insurance Disability insurance provides income replacement should
for employees and offers voluntary insurance options for you become disabled and unable to work due to a
employees and their dependents. Please note the Life non-work-related illness or injury. Think Goodness provides
and AD&D benefit reduction schedule 35% at age 65, disability coverage at no cost as shown below. Coverage is
50% at age 70. automatic; you do not need to enroll.
Basic Life and AD&D Insurance Coverage Benefit

Life insurance is an important part of your financial Short-Term
wellbeing, especially if others depend on you for support. Disability  60% of your weekly salary, to a maximum of
$1,500 per week for the first 24 weeks of a
Think Goodness provides basic life and accidental death disability after the one-week waiting period.
and dismemberment insurance at no cost equal to
$25,000 for non-exempt employees and 1x salary (up to Long-Term  60% of your base salary, to a maximum of
$75,000) for exempt employees. Coverage is automatic; Disability $10,000 per month if you are disabled and
you do not need to enroll. are unable to work for more than 180 days.
 Benefits are offset with other sources of
Voluntary Life and AD&D Insurance income, such as Social Security and Workers’
Compensation.
You may choose to purchase additional life and AD&D
coverage for yourself and your dependents at affordable
group rates. Rates are based on age and the coverage
level chosen.
Family Medical Leave Act (FMLA)
Voluntary Life and AD&D Insurance for you
If you have been with the company for
Employee 12 months, you may be eligible for up to
 Increments of $10,000 up to 5x your base annual salary 12 work weeks of unpaid leave per year
 Up to a $500,000 maximum under the Family and Medical Leave Act
(FMLA). FMLA can be used for an illness
NOTE: If enrolled at time of hire, you can increase your of your own, care needed for a family
amount by $10,000 without evidence of insurability approval
during annual open enrollment; as long as you do not exceed member, care for a newborn and certain
the guarantee issue amount. For your spouse; if your spouse other medical needs.
is also enrolled in voluntary life insurance, you can increase
the amount by $5,000 during annual open enrollment
without evidence of insurability approval; as long as you do
not exceed the guarantee issue amount.

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