Page 16 - Jones and Frank Benefits Enrollments Guide

Group Term Life/AD&D

Group Term Life/AD&D provided by Guardian Life

 Available on a Contributory basis.
 The cost per pay period is $1.16 for Hourly employees
 The cost per pay period is $2.32 for Salaried employees
 Coverage equal to $50,000 for all eligible full-time employees.

 Group Term Life reduces as you age with the first reduction at age 65 to 65%
and at age 70 to 50% of the original benefit amount.
 Includes Accelerated Death Benefit of 75% to a maximum of $500,000 to be
paid if diagnosed as terminally ill (expected to result in death in less than 12
months).

 Includes Conversion—coverage may be converted to an individual policy
when coverage terminates or reduces.
 Includes Portability – Allows an insured employee to take their group Life
insurance with them or continue with Life insurance under the group when
coverage ends for reasons other than sickness, injury, retirement, or
termination of employer’s plan.
 Contact Human Resources to update your beneficiary information.

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