Page 17 - Volcom Benefit Summary 2019 Hawaii
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LIFE/AD&D
Basic Life and AD&D
Life insurance protects your family or other beneficiaries in the event of your death while you are still actively employed with
the company. Accidental Death and Dismemberment (AD&D) coverage provides an additional benefit to your beneficiary if
your death is due to a covered accident or injury.
BASIC LIFE/AD&D BENEFIT
1x your annual salary (including bonus/commission) to a maximum benefit of $600,000
Voluntary Life and AD&D
In addition to the company provided Basic Life/AD&D benefits, you may elect to purchase additional Term Life/AD&D
insurance at discounted group rates provided by Sun Life. You pay for this coverage with after-tax dollars through convenient
payroll deductions.
VOLUNTARY LIFE/AD&D BENEFIT GUARANTEE
ISSUE
EMPLOYEE
You may purchase coverage for yourself in increments of $10,000 up to a maximum $150,000
benefit of $500,000.
SPOUSE
If you buy coverage for yourself, you may also purchase coverage for your eligible spouse. $50,000
Benefits for your spouse are available in increments of $5,000 to a maximum benefit of
$250,000 and may not exceed 50% of your employee election. Age reductions apply.
CHILDREN
If you buy coverage for yourself, you may also purchase coverage for your eligible Full Benefit Amount
dependent child(ren) in the following amounts: Age: 6 months to 26 years: $1,000
increments to a maximum benefit of $10,000. 14 days to 6 months: Flat $500.
During your initial eligibility period only, you can receive coverage up to the Guarantee Issue amounts without having to
provide Evidence of Insurability (information about your health). Coverage amounts that require Evidence of Insurability will
not be effective unless approved by the insurance carrier.
LONG TERM
DISABILITY
Volcom offers you Long Term Disability (LTD) income replacement if you are disabled for an extended period of time,
through Sun Life. Benefits begin after a 90 day waiting period.
LONG TERM DISABILITY BENEFIT
Benefit Percentage 60%
Monthly Benefit Maximum $10,000
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