Page 18 - 2022 Oerlikon Benefits Guide

Life Insurance and Disability

Basic Life and AD&D Insurance Disability Insurance
Life insurance is an important part of your financial Disability insurance provides income replacement should
wellbeing, especially if others depend on you for support. you become disabled and unable to work due to a non-
Oerlikon provides basic life and accidental death and work-related illness or injury. Oerlikon provides eligible
dismemberment insurance to all eligible employees at no employees with disability coverage at no cost as shown
cost equal to 2 times your base annual earnings, up to a below. Coverage is automatic; you do not need to enroll.
maximum of $500,000. Coverage is automatic; you do not
need to enroll.

Coverage Benefit
Voluntary Life and AD&D Insurance
You may choose to purchase additional life and AD&D Short-Term • 60% of your weekly salary, to a
coverage for yourself and your dependents at affordable Disability maximum of $1,000 per week for the
first 26 weeks of a disability after the
group rates. Rates are based on age and the coverage
one-week waiting period.
level chosen.
Long-Term • 60% of your base salary, to a
Voluntary Life and AD&D Insurance for you
Disability maximum of $12,000 per month if
you are disabled and are unable to
Employee
• 1 – 5 times base annual earnings work for more than 180 days.
• Up to a $1,000,000 maximum • Benefits are offset with other sources
• Guaranteed issue up to $350,000 of income, such as Social Security
and Workers’ Compensation.

Voluntary Life and AD&D Insurance
for your dependents

Spouse/Domestic Partner Child(ren)
• 50% of your voluntary life • $5,000, $10,000, or
and AD&D election $15,000 per child Family Medical Leave Act (FMLA)
• Up to a $250,000 • Must be added within 30 If you have been with the company for 12 months,
maximum days of birth you may be eligible for up to 12 work weeks
• Guaranteed issue up to of unpaid leave per year under the Family and
$50,000 Medical Leave Act (FMLA). FMLA can be used for
an illness of your own, care needed for a family
Per $1,000 Voluntary Life Voluntary AD&D member, care for a newborn and certain other
medical needs.
Employee / Spouse Age*
<29 $0.06 $0.03 To file a claim for STD or FMLA, visit
www.matrixabsence.com or call 877-202-0055.
30 – 34 $0.08 $0.03
You can also download the Matrix eServices
35 – 39 $0.105 $0.03 mobile App by searching Matrix eServices
40 – 44 $0.173 $0.03 Mobile on your smartphone or tablet’s app
store (iOS or Android).
45 – 49 $0.258 $0.03
50 – 54 $0.385 $0.03
55 – 59 $0.702 $0.03
60 – 64 $1.05 $0.03
65 – 69 $1.27 $0.03
70+ $2.06 $0.03
Child(ren) $0.13 $0.03
*Salary/Age increases are based on date of change
This is a summary of coverage only. For more information, please visit Paylocity.
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