Page 6 - Marvin - Final Brochure w_ Compliance notices 2021

Marvin Engineering Co
2021–22 Employee Benefits Brochure

Additional Benefit

Anthem Basic Life/AD&D
Marvin Engineering Co provides basic life insurance at no cost to you through Anthem Blue Cross. Basic Life
benefit amount is $25,000. If you were to pass away in an accident, your benefit amount doubles to $50,000
to your beneficiary. Beneficiary changes can be done at any time during the plan year should you have a
change.

o 100% Employer paid
o $25,000 Benefit Amount for Life
o $25,000 Benefit Amount for AD&D
o Beneficiary support programs

Benefits after age 65
You will still receive benefit payments after age 65, though they will reduce according to the following
schedule
35% reduction at age 65; 50% reduction at age 70
Benefits terminate at retirement

Anthem Voluntary Life / AD&D:
Employee:
Increments of $10,000 to $300,000
(to max of 5x’s annual earnings, whichever is less)
Guarantee Issue: $100,000

Spouse:
Increments of $5,000 to $250,000
Guarantee Issue: $25,000

Children:
Increment, $5,000 to $10,000

 Dependent coverage may not exceed 50 % of the employee’s benefit amount.
Child Coverage begins on the 15 day following birth and terminates at age 26.
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