Page 15 - MCU Benefits Enrollments Guide

Whole Life (Individual Policies)

Unum offers Whole Life Insurance. This benefit is paid for 100% by the employee
through payroll deductions. Unum’s whole life protection offers protection beyond
an individual’s working years and potentially lifetime. With a guaranteed death benefit that will
never decrease, level premiums that will never increase, cash value accumulation, living benefits
and other options, Whole Life goes beyond typical term life insurance. All amounts are Guarantee
Issue.

You have two choices as employee only of either $13.00 or $19.50 per pay period. Spouse
coverage cost is $6.50 per pay period. Child term Life is $10,000 up to age 25 and then the option
to purchase as a Whole Life policy at 5 times the rider amount. Per pay period cost is $2.49

Employee and Spouse’s Life amount is based on their age and tobacco and nontobacco rates.
Please see HR for additional enrollment information.

Salary Continuation Provided by MCU

MCU will provide a benefit equal to 66 2/3% of your salary, after you have exhausted all available
PTO and vacation time, for a period of up to 90 days at which time the LTD product will go into
effect. The elimination period of 5 days applies. This benefit is provided to employees of MCU at
no cost.

Long Term Disability Group #404642

This benefit is provided by Unum and 100% paid for by MCU. The benefit amount is 60% of the
employee’s monthly earnings with a minimum of $100 or 10% of salary to a maximum of $6,000
per month. Elimination period of 90 days applies, in which no benefits are paid during this time.
Maximum benefit period is to age 65 or Social Security Normal Retirement Age (SSNRA). Definition
of disability for is 24 months Regular Occupation. Owners, officers and department heads, please
see HR for complete list of benefits. Note pre-existing limitation of 3 month prior to effective
coverage date and 12 month after effective date of coverage applies. See certificate of coverage
for contractual provisions.

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