Optional Group Life Insurance

In order to be insured under this benefit, you must also be insured under the basic group life insurance program.

Amount of Insurance
Your basic group life insurance covers you for two times your current salary. However, additional group life insurance is available over and above what you are covered for under the basic plan. You may apply to purchase, on behalf of your self and/or your spouse, additional group life insurance from $10,000 up to $300,000 in units of $10,000. You pay the full cost of this additional coverage. For new employees, up to $100,000 is available without medical evidence of insurability if applied for within 31 days of your employment date.

Payment of Benefits
You and/your spouse are covered 24 hours a day and benefits are paid as the result of death from any cause whatsoever.

Beneficiary Designation
You may appoint any beneficiary(ies) to receive the benefits you have selected. You are automatically the beneficiary of any coverage selected for your spouse.

Waiver of Premium
While insured under the plan, should you become disabled from engaging in your own occupation, your optional group life insurance may be continued in force following four (4) months of continuous disability for the duration of such disability without further premium payment up to your attainment of age 65, recovery or death.

Termination of Coverage
You and/or your spouse's coverage terminates on the earlier of your termination of employment or you/your spouse's attainment of age 75. Coverage may be continued during early retirement but not beyond your 65th birthday.

Conversion Privilege
If insurance terminates on or prior to age 65, you and/or your spouse may be entitled to convert the amount of optional group life insurance within 31 days of this date, without submission of evidence of health. The premium rate will be determined from your and/or your spouse's age and class of risk at the time of conversion. For further information please contact your Administrator.

Applying for Coverage

Employee
For new employees, the first $100,000 of optional group life insurance coverage is available without medical evidence if applied for within 31 days of becoming eligible. If the employee selects an amount of insurance over $100,000 an evidence of insurability form must be completed.

Spouse
Employees may select coverage for their spouse up to $100,000 upon the spouse signing a declaration of good health form. For amounts in excess of $100,000 an evidence of insurability form must be completed. If the spouse is not in good health evidence of insurability must be completed for all amounts of insurance. The completed forms must be forwarded to your Administrator for forwarding to the insurance company.

Effective Date of Insurance
For new employees only, the first $100,000 of optional life insurance becomes effective on the date the application is received by your employer but, in no event prior to the commencement of active, regular employment. Optional Group Life Insurance coverage in excess of $100,000 and all amounts for the spouse of an employee will not become effective until the application has been approved by the insurance company. If additional medical information is required, you will be notified accordingly.
 
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