Page 16 - McLarty 2017-2018 Benefits Booklet_Finished

COMPANY PAID BASIC LIFE & AD&D FROM GUARDIAN

McLarty Automotive Group provides a $25,000 Basic Life and $25,000 Accidental Death and
Dismemberment policy for all full-time employees while employed.

VOLUNTARY TERM LIFE FROM GUARDIAN

Highlights:
• You can purchase voluntary life insurance in $25,000 increments to a maximum of $400,000 for
yourself
• You can also purchase voluntary life insurance for your spouse up to 50% of your amount, maxi-
mum of $200,000, and for your children up to 10% of your amount, maximum of $10,000

If this is your first time that you are eligible for benefits: You are eligible for Guarantee
Issue voluntary term life insurance up to:
• The first $200,000 for yourself, $100,000 for your spouse and $10,000 for your children are available
without having to answer medical questions.
• For amounts greater than those listed above you will need to complete an evidence of insurability
form (medical questionnaire) and be approved by Guardian.
• Please note: Spouses’ age is considered the same as the employee for rate purposes.

If you are re-enrolling and taking voluntary term life insurance for the first time or to

increase your current coverage: You must provide Evidence of Insurability (EOI)
• Life insurance purchase amounts requiring EOI do not become effective (and therefore premiums
are not deducted from your pay) until approval is obtained from Guardian or the effective date of your
benefits, whichever comes later.

• If you have applied for supplemental life insurance and you do not provide a statement of good health,
or if such evidence is not accepted by Guardian as satisfactory, the amount of your supplemental
coverage will not be more than the amount for which you were covered immediately prior to the date
on which any such increase would have become effective.
• Please note: No EOI is required for spouse or children if timely enrolled.

13