Page 14 - 2018 Endeavor Schools Benefit Guide
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Protecting Yourself And Your
Loved Ones With Life Insurance
Term Life insurance provides your family with additional • Child(ren): Up to $10,000 (Birth to age 6 months -
financial resources if you pass away from a covered $500 Benefit Amount)
circumstance.
Note: At age 65, providing you are still employed, your
It’s hard to think about, but what would your family do coverage will decrease to 65% of the benefit amount. It
without you? Life insurance is an important part of any will decrease to 50% at age 70. The Spouse Life Benefit
financial plan. It can help your family: amount will reduce by the same percentage and at the
same time as the Employee Life Benefit amount.
• Cover your family’s living expenses
• Take care of your children’s education Prepare For The Unexpected
• Cover your funeral expenses With Disability Insurance
• Pay off your mortgage and other debts
Disability insurance continues to pay a portion of your
You’re covered for a specific period of time, or “term.” income if you become unable to perform your regular job
If you pass away during the term, the beneficiary you duties for an extended period of time due to a qualified
designate will receive a payment. illness or injury.
Accidental Death & Dismemberment (AD&D) insurance Voluntary Short-Term Disability - Endeavor Schools
offers you protection if you pass away or are seriously employees are provided with the option to purchase
injured as a result of a covered accident. short-term disability. Short-Term Disability (STD)
coverage pays you up to 60% of your weekly salary per
This plan gives you a cost-effective way to supplement week (Maximum Weekly benefit—$1,500) on the 15th
any life insurance you may already have. You or your day of a non-work related illness or injury. The maximum
beneficiaries will receive a set amount of money. This benefit period is 26 weeks.
can help provide additional financial protection by
helping pay for unexpected expenses that can come Voluntary Long-Term Disability - Endeavor Schools
from serious injury or death caused by a covered employees are provided with the option to purchase
accident, including: long-term disability. If you become totally and
permanently disabled, the plan begins to pay you a
• Child day care and education monthly benefit 180 days after the start of your disability.
LTD works with Social Security—and any other group
• Spouse job training disability coverage—to provide you with a combined
• Rehabilitation or trauma counseling monthly benefit equal to 60% of the monthly salary
you were earning as an active employee, up to $10,000
• Home alterations and vehicle modification per month.
You may purchase Voluntary Life, and AD&D insurance
for yourself up to 5 times your annual salary with a
maximum benefit of $500,000. If you purchase Voluntary
Life insurance when you are first eligible, you can obtain
a guarantee issue up to $120,000 of coverage without
providing evidence of insurability.
You may also elect the following coverage for your spouse
and children. Must accompany employee coverage.
• Spouse: Up to 50% of the employee’s elected
amount, not to exceed $250,000, with a
guaranteed issue up to $25,000. (At initial eligibility
period only)
