EMPLOYEE LIFE/AD&D: You have the option to elect Voluntary Term Life insurance through Equitable. Contributions are taken on a post-tax basis. Voluntary Term Life is portable but not permanent. Term Life insurance does not accrue a cash value. When you enroll in Voluntary Life, you will automatically be enrolled in an equal benefit of Voluntary Accidental Death & Dismemberment (AD&D).

VOLUNTARY EMPLOYEE LIFE/AD&D: Eligible employees may elect Voluntary Employee Life/AD&D in $10,000 increments in the amount of 5 times your annual salary, up to a maximum of $500,000. When you are first eligible for this plan, you can elect coverage up to $100,000 without completing a medical questionnaire. This is called the “guaranteed issue” amount. Coverage amounts in excess of $100,000 will require that you complete a medical questionnaire, and that the insurance carrier approve you. This process is called providing evidence of insurability (EOI). You are also required to complete the evidence of
insurability process for any amount of coverage if you decide to enroll in this plan at any time following your initial enrollment opportunity. If evidence of insurability is required, the coverage you elect under this plan will not become effective until it is approved by the insurance carrier.

*VOLUNTARY SPOUSE LIFE/AD&D: Employees may elect Voluntary Spouse Life/AD&D in increments of $5,000 up to 2.5 times the employee’s annual salary, up, up to $250,000. When you enroll in Voluntary Spousal Life, you will automatically be enrolled in Voluntary AD&D at the same amount. The Guaranteed Issue amount is $10,000.

 

*VOLUNTARY CHILD LIFE: Employees may elect Voluntary Child Life in increments of $2,500, up to $20,000. Premiums for Voluntary Child Life are per unit, meaning that the payroll deductions will remain the same regardless of the number of children covered by the plan.

*Dependent Spouse and/or Child coverage is only available if the Employee has coverage under this plan. Spouse coverage terminates at age 70.