2020 Employee Benefits Book | Page 28

Other Voluntary Insurance Benefits Renown offers convenient payroll deductions for the following voluntary benefits: Critical Illness Insurance Critical illness insurance can pay a lump-sum benefit at the diagnosis of a covered illness. You choose the level of coverage — from $5,000 to $50,000 — and use the money any way you see fit. ​You may take the coverage with you if you leave the company or retire without having to answer new health questions. Who Can Have It? • Benefit-eligible employees who are actively at work • Dependent children newborn until 26, regardless of marital or student status. All eligible children are automatically covered at 25% of the employee benefit amount (no additional cost). • Spouse age 17 through 64 with purchase of employee coverage Benefit From $5,000 to $50,000 in $1,000 increments Eligible children are covered for the same conditions as employee and the following childhood conditions: cerebral palsy, cleft lip or palate, cystic fibrosis, Down syndrome and spina bifida. Diagnosis must occur after the child’s coverage effective date. Accident Insurance Accident insurance pays a lump-sum benefit based on the type of injury (or covered incident) you sustain or the type of treatment you need. You choose the coverage that’s right for you. Accident insurance is offered to all eligible employees age 17 to 80 who are actively at work. See schedule of benefits on Inside Renown under Benefits for full list of covered injuries and expenses. Spouse Coverage Age 17 to 80, if actively at work or not disabled Child Coverage Available for dependent children age 14 days to 26, regardless of martial or student status 26 • If a family plan is purchased, dependent children are covered until 26 • If a child-only plan is purchased, dependent children are covered until 24