Page 13 - DataMax Benefits Enrollments Guide

Basic Term Life/AD&D

Policy# 01-0013696

Basic Life/AD&D with Lincoln Financial Group

 This benefit is paid 100% by DataMax Corporation for eligible employees
 Employee Life benefit amount is equal to employee’s basic annual earnings,
rounded to the next higher $1,000

 Minimum Life and AD&D amount: $5,000
 Maximum Life and AD&D amounts: $50,000
 Employee AD&D benefit amount is equal to employee’s life benefit amount
 Term Life-reduces as you age with first reduction at age 65.
o At age 65, benefits will reduce by 35% of the original amount

o At age 70, benefits will reduce an additional 25% of the original
amount
o At age 75, benefits will reduce an additional 15% of the original
amount
o Benefits will terminate at retirement
 Accelerated death benefit is included

o The accelerated death benefit provides an option to withdraw a
percentage of your life insurance coverage when diagnosed as
terminally ill
 Conversion privilege is included
o If you terminate your employment or become ineligible for this
coverage, you have the option to convert all or part of the amount of
coverage in force to an individual life policy on the date of
termination without Evidence of Insurability

o Conversion election must be made within 31 days of your date of
termination

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