Page 12 - Marcus & Millichap EE Guide 2020

Life and AD&D Insurance Benefits

SOAs, LAs and SIPs are not eligible for this coverage

It’s never fun to discuss life insurance. But you probably know that life insurance is something that you need to protect your loved
ones in the event of your death. Things like funeral expenses, debt, and the cost of living, can all add up. Fortunately, life insurance
can help lessen the financial burden and provide coverage to help pay for these types of expenses.

Lincoln Financial Group | Lincoln Financial Group |
Basic Life and AD&D Insurance Voluntary Life and AD&D

Life insurance protects your family or other In addition to the company provided Basic Life and AD&D benefits,
beneficiaries in the event of your death while you you may elect to purchase additional Term Life/AD&D insurance for
are still actively employed with the company. yourself, spouse and Life only for dependent children at discounted
group rates provided by Lincoln Financial Group. You pay for this
Accidental Death and Dismemberment (AD&D) coverage with after-tax dollars through convenient payroll
coverage provides an additional benefit to your deductions. Note that age reductions apply.
beneficiary if your death is due to a covered accident Voluntary Life/AD&D
or injury.
Employee
Life benefits will reduce by certain percentages as You may purchase coverage for yourself in increments of $10,000 up
you age, and will terminate when you leave the to a maximum benefit of $500,000, not to exceed 5 times your
company or retire. annual salary.

Spouse or Domestic Partner
Basic Life/AD&D
If you buy coverage for yourself, you may also purchase coverage for
1x your annual base salary to a maximum your eligible spouse or domestic partner. Benefits for your spouse or
benefit of $200,000 domestic partner are available in increments of $5,000 up to a
maximum benefit of $250,000, not to exceed 50% of your employee
election.
Included in the Basic Life are these additional
benefits: Child(ren)
• LifeKeys: Online will & testament preparation If you buy coverage for yourself, you may also purchase coverage for
service, identity theft resources and beneficiary your eligible dependent child(ren). Benefits for your child(ren) are
assistance support for all employees and eligible available in the amount of $5,000, $10,000, or $20,000.
dependents covered under the Group Term Life
and/or AD&D policy. Guarantee Issue
• TravelConnect: Travel assistance services for Guarantee issue is a pre-approved amount of coverage that does
employees and eligible dependents traveling not require you to provide proof of good health, and is available to
more than 100 miles from home. you during your initial eligibility period (upon hire). Guarantee issue
is available in the following amounts:
• Employee: $150,000
• Spouse or Domestic Partner: $30,000

Choosing a Beneficiary
If you are already enrolled in Voluntary Life, you are eligible to elect up
to an additional $20,000 each year at open enrollment without health
A beneficiary is a person or entity who you questions. If you are no longer in your initial eligibility period, you
designate to receive your death benefits.
may enroll in Voluntary Life and AD&D insurance anytime during the
Choosing a beneficiary and keeping your
year as long as you provide proof of good health. To provide proof
beneficiary up-to-date is an essential part of
of good health, you will be asked to complete a health questionnaire
owning life insurance. Please remember to (Evidence of Insurability) and are subject to insurance carrier
review your beneficiary designation as new
approval. Lincoln Financial Group may approve or decline coverage
situations arise, such as the birth or adoption of a
based on a review of your health history.
child, marriage, or divorce. Login to ADP to make

any changes to your beneficiaries. You can also increase the coverage amount for your spouse /

domestic partner by $5,000 or $10,000 each year at open
enrollment without health questions.
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