2020 Employee Benefits Book | Page 25

Supplemental Life Insurance Active full- and part-time employees and their eligible family members can participate in supplemental life insurance. • In order to purchase life insurance coverage for dependents, you must also purchase coverage for yourself. • Evidence of insurability is required for amounts above the guarantee issue amount and outside of your original enrollment period or if you were previously declined. • Life insurance may include an accelerated benefit in the event of terminal illness. Please see policy for details. Employee Increments of $10,000; maximum is the lesser of 5 times your annual earnings or $500,000. Employee guarantee issue amount is $200,000. Rates Rates are based on age and coverage amount selected. The online enrollment system will calculate rates for you. Spouse Enroll during your original enrollment period and make future increases without medical underwriting. Increments of $5,000; maximum is the lesser of 100% of the employee’s life insurance amount or $250,000. Spouse guarantee issue amount is $25,000. Child From live birth to age 26: increments of $2,500; maximum is the lesser of 100% of the employee’s life insurance amount or $20,000. Dependent Life Insurance: $2,000 coverage for each covered family member. Coverage amounts for participants age 65 and older will be reduced on a pro-rata basis. When Can I Enroll? Eligible employees can enroll in Supplemental Life Insurance anytime. 23