Page 14 - Arrowhead Credit Union Benefit Guide 2018 with larger font V4

Benefits

Life and AD&D Insurance

Mutual of Omaha | Basic Term Life and AD&D Insurance
Life insurance protects your family or other beneficiaries in the event of your death while you are still actively employed with the
company. Arrowhead Credit Union pays for coverage, offered through Mutual of Omaha. Your benefit will be based on your life
insurance eligibility class.

If your death is due to a covered accident or injury, your beneficiary will receive an additional amount through Accidental Death
and Dismemberment (AD&D) coverage.

Mutual of Omaha | Voluntary Term Life and AD&D Insurance
In addition to the company provided Basic Life and AD&D benefits, you may elect to purchase additional Term Life and AD&D
insurance at discounted group rates provided by Mutual of Omaha. You pay for this coverage with after-tax dollars through
convenient payroll deductions.

Employee
You may purchase coverage for yourself in increments of $10,000 to a maximum benefit of $500,000, not to exceed 5 times your
annual salary.
Spouse
If you buy coverage for yourself, you may also purchase coverage for your eligible spouse. Benefits for your spouse are available in
increments of $5,000 to a maximum benefit of $100,000 and may not exceed 100% of your employee election.
Child(ren)

If you buy coverage for yourself, you may also purchase coverage for your eligible dependent child(ren) in increments of $2,000 to
$10,000; not to exceed 100% of your benefit. Unmarried children can be covered from age 14 days old up to 26 years regardless if
a full-time student.

Semi-Monthly Voluntary Life Rates Guarantee issue is a pre-approved amount of coverage that does not require you to
provide proof of good health, and is available to you during your initial eligibility
Age Team Member Spouse $5,000 period (upon hire). Guarantee issue is available in the following amounts:
$10,000 Benefit Benefit • Employees: $200,000
• Spouses: $50,000
Under $0.40 $0.20 • Children: $10,000
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30-34 $0.50 $0.25 If you are no longer in your initial eligibility period, you may enroll in Voluntary Life
and AD&D insurance only during open enrollment as long as you provide proof of
35-39 $0.59 $0.29 good health. To provide proof of good health, you will be asked to complete a health
questionnaire and are subject to insurance carrier approval. Mutual of Omaha may
40-44 $0.78 $0.39
approve or decline coverage based on a review of your health history.
45-49 $1.16 $0.58
50-54 $1.81 $0.91
Assigning a Beneficiary
55-59 $2.95 $1.47

A beneficiary is the person or entity who you designate to receive
60-64 $4.33 $2.16
your death benefits. Choosing a beneficiary and keeping your
65-69 $7.53 $3.76
beneficiary up-to-date is an essential part of owning life insurance.
70-74 $8.35 NA Please remember to review your beneficiary designation as new
situations arise, such as the birth or adoption of a child, marriage
75-79 $21.15 NA
or divorce. You may call the Human Resources Department for a
80+ $42.80 NA copy of the Beneficiary Designation Form as needed.

Child Life Rate per $1,000 Benefit: $0.10

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