Life and disability insurance is provided through RelianceMatrix.
Life and AD&D Insurance options
Basic Life & Accidental Death and Dismemberment (AD&D)
The company automatically provides you a benefit of one times your annual salary (up to $300,000), at no cost to you, for life insurance and accidental death and dismemberment insurance.
Employee Voluntary Life Insurance
You are eligible to purchase additional life insurance in increments of $25,000 up to a maximum benefit of $175,000. Employees can increase their current elections up to $250,000 without completing a health questionnaire.
Spouse and Dependent Voluntary Life Insurance
If you elect voluntary life coverage for yourself, you can also elect voluntary life coverage for your spouse in increments of $12,500 up to a maximum of $50,000, not to exceed 50% of the employee’s Voluntary Life Benefit. Dependent child life coverage is $10,000, with 26 being the child limiting age.
Supplemental Life — EE Only (per $1,000 of Covered Volume) All Active Full Time Employees |
|
---|---|
Less than 30 | $0.062 |
30–34 | $0.080 |
35–39 | $0.090 |
40–44 | $0.106 |
45–49 | $0.151 |
50–54 | $0.230 |
55–59 | $0.434 |
60–64 | $0.665 |
65–69 | $1.285 |
70+ | $2.083 |
Supplemental Dependent Life (per $1,000 of Covered Volume) All Active Full Time Employees and Spouse* |
|
---|---|
Less than 30 | $0.062 |
30–34 | $0.080 |
35–39 | $0.090 |
40–44 | $0.106 |
45–49 | $0.151 |
50–54 | $0.230 |
55–59 | $0.434 |
60–64 | $0.665 |
65–69 | $1.285 |
70+ | $2.083 |
Child | $0.135 |
Age Reduction*: The Employer is responsible for making sure that the offer of insurance to its Associates under the program described complies, if applicable, with the Age Discrimination in Employment Act of 1967, as amended, (“ADEA”), and the regulations thereunder. The Employer should seek the advice of counsel as to whether ADEA applies to the program and, if so, whether it is in compliance with ADEA and other applicable laws. RelianceMatrix is required to comply with insurance age discrimination laws where applicable.
* The rates listed above are monthly.
** All reductions are applied to the original benefit amount.
What is Evidence of Insurability (EOI)?
If EOI is required, this means you must provide certain information about your health in order for the insurance company to review your information and approve you for coverage.
If you are newly eligible and have not previously waived coverage, you can elect up to the guaranteed issue amount without submitting EOI. You may be required to submit EOI if you have previously waived this coverage or if you elect above the guaranteed issue amount.