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at-bat: Life & Accident Insurance
As a Sterling Mets, LP employee, we offer you valuable financial Benefit Age Reductions
protection for you and/or your family in the event of death or a serious Your coverage amount and your spouse’s coverage amount
accident. The Organization pays the full cost for your basic life and will reduce by 35% at age 65, by 50% at age 70 and by 65%
accidental death and dismemberment insurance coverage. You then at age 75.
have the option of purchasing additional protection for yourself and
your family. Life insurance coverage is offered through The Standard
Life Insurance Company of New York.
Evidence of Insurability
Basic Life Insurance
You will need to provide Evidence of Insurability if you:
Your basic life coverage is equal 2x your base annual earnings
(up to a maximum of $500,000). This benefit is Company-paid Elect voluntary life insurance coverage over the
and you are enrolled automatically. guaranteed issue amount,
Increase your voluntary life insurance amount, or
Basic Accidental Death and Dismemberment Decline coverage when first eligible and elect it at a
(AD&D) Insurance
later date.
In addition to basic life insurance, you also have basic Accidental For any voluntary coverage that is subject to Evidence of
Death and Dismemberment (AD&D) insurance automatically at no Insurability, your contributions will take effect once your
cost to you. Your AD&D coverage is equal to your basic life insurance application is received and approved by The Standard.
amount (up to a maximum of $500,000). The amount of the benefit
you or your beneficiary receives is based on the severity of your loss.
Voluntary Life Insurance
Beneficiary Designation
For Yourself. You may elect voluntary life insurance coverage for
yourself of 1x, 2x or 3x your annual earnings (up to a maximum of You will need to designate a beneficiary for any basic
$350,000). As a new hire, any amounts elected over $200,000 will and voluntary life insurance coverage. If you name
require Evidence of Insurability (EOI). If you enroll at a later date, you more than one beneficiary, be sure to indicate the
will also need to provide EOI for all election amounts. percentage you wish each beneficiary to receive. The
percentages must total 100%.
For Your Dependents. In addition to your own life insurance
coverage, you may also want protection from the financial A primary beneficiary is the person(s) you name to
burdens that could accompany the death of a spouse or a receive the benefit in the event of your death. If you
dependent child. You are automatically the beneficiary for name a contingent beneficiary, that person(s) would
this coverage. receive the benefit in the event your primary beneficiary
cannot.
Spouse: $10,000
Note: It is important to keep your beneficiary designations
Children (up to age 20; age 24 if full-time student): up-to-date. Each year during the annual enrollment period,
$4,000 be sure to review your beneficiary designation elections
and make any updates as necessary.
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