Page 20 - GESMN 2019 Benefits Enrollment Guide
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Evidence of
Insurability Life, STD and LTD Insurance
If you are newly eligible and Life and AD&D insurance can provide valuable financial protection, and GESMN
have not previously waived
your opportunity to elect offers the choice of different levels of coverage to meet your needs. GESMN
additional term life insurance, offers two term life and AD&D insurance plans: the basic term life and AD&D
you can elect coverage up
to the guaranteed issue insurance plan and the voluntary term life and AD&D insurance plan. Both plans
amounts without submitting are administered by The Standard.
evidence of insurability (EOI).
If you are a late entrant
and have previously waived Life and Accidental Death and Dismemberment (AD&D)
the opportunity to purchase Insurance
additional term life insurance,
you will be required to submit GESMN automatically provides, at no cost to you, basic life and accidental death
EOI. EOI is required for life
insurance amounts that: and dismemberment benefits equal to your base annual salary to a maximum of
➢ E x c e e d $ 1 5 0 , 0 0 0 $50,000, to eligible employees working 30+ hours per week. In the event of your
f o r employees or death, our life insurance policy helps provide a general safety net for your
➢ E x c e e d $ 3 0 , 0 0 0 beneficiaries. If your death is the result of an accident or if an accident leaves you
f o r spouses
with certain debilitating injuries, you’ll be covered under our accidental death and
dismemberment insurance for the same amount. We hope this company paid policy
helps you feel more secure and prepared to manage your financial goals and
obligations.
If you die while covered by this plan, the benefit is paid to the beneficiary (or
beneficiaries) you designate. You can add or change beneficiaries at any time with
UltiPro’s employee self-service processes.
Voluntary Life and AD&D Insurance
We recognize you and your family have specific needs and our company paid life
Age Reduction of insurance policy may not be enough to ensure your financial security if your
Benefits income is suddenly lost. If necessary, we offer a voluntary life and Accidental
Death & Dismemberment (AD&D) insurance option, to eligible employees
Life and AD&D benefits reduce
beginning at age 70. See working 20+ hours per week. This plan offers competitive group rates so you can
the plan document for more purchase and secure the financial protection you need. Voluntary life insurance can
details. be purchased in increments of $10,000 up to the lesser of five times your
annual salary or $500,000.
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