Page 18 - CC 2017 Benefits Booklet
P. 18
2017 EMPLOYEE BENEFITS GUIDE
Supplemental Life Insurance Specifics
• You must be enrolled for supplemental During your initial new-hire eligibility period,
benefits in order to be eligible for Guardian will allow you to elect coverage up
supplemental dependent life coverage to the guaranteed issue amounts without
• Supplemental dependent life insurance submitting evidence of insurability. If you
coverage may be purchased in the want to increase your election beyond the
following amounts guaranteed issue amounts, evidence of
• Spouse--$5,000 increments to a insurability will be required before Guardian
maximum benefit of $250,000; the will finalize and approve your election.
amount cannot exceed 50% of the
employee’s supplemental coverage The guaranteed issue amounts are as
• Children follows.
• 14 days to 26 years • Employee guaranteed issue amount
• Election can be one of the = $150,000
following: $1,000; $5,000; • Spouse guaranteed issue amount
$10,000 = $50,000
• You must name a beneficiary—the • Child(ren) guaranteed issue amount
person or persons who would receive = $10,000
your life insurance benefit; if you do
not name a beneficiary, the benefit will 16
be paid to your estate
