Page 12 - FINAL Crane Country Day School 2017-18 Benefits Guide

Life and AD&D Insurance 12

Anthem | 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. Crane Country Day School pays for coverage, offered through Anthem in the
amount of 2 times your annual salary to a maximum benefit of $400,000. 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.

Under current tax laws, you are required to pay income taxes on the "value" of your company provided basic
life insurance coverage in excess of $50,000. The "value" is determined by your age and schedule established
by the IRS. This tax liability is called "imputed income." It is added to your gross wages and is included on your
form W-2 at the end of the year.

Anthem | Voluntary Life and AD&D
You have the option to purchase Life insurance at discounted group rates provided by Anthem. If elected, 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 up to a maximum benefit of $500,000, not to
exceed 5 times your annual salary, whichever is less. The amount guaranteed to be approved by Anthem is
$100,000. Coverage requests in excess of this amount will be subject to approval based on underwriting review
of a medical questionnaire.
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 $500,000 and may not exceed 50% of
your employee election. The amount guaranteed to be approved by Anthem is $50,000. Coverage requests in
excess of this amount will be subject to approval based on a underwriting review of a medical questionnaire.

Child(ren)
If you buy coverage for yourself, you may also purchase coverage for your eligible dependent child(ren) in
increments of $2,000 up to a maximum of $10,000. Benefits for your child(ren) are available within the
following ages: 15 days to 26 years.
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 period (upon hire). Guarantee issue is available in
the following amounts:
 Employee: $100,000
 Spouse: $50,000
 Child(ren): $10,000

Please refer to page 11 for voluntary life rates.