Spousal Life Insurance provides coverage in case of your
spouse’s death. My Choice offers
the following coverage options:
|
|
Coverage |
|
Option 1 |
No
Coverage |
|
|
|
|
Option 2 |
$10,000 |
|
|
|
|
Option 3 |
$20,000 |
|
|
|
|
Option 4 |
$50,000 |
|
|
|
|
Option 5 |
$100,000 |
|
|
|
|
Option 6 |
$150,000 |
The following is a further description of
some of the specific elements of your Spousal Life Insurance plan.
|
g
Beneficiary |
■
You may change your beneficiary at any time by
written notice to your Employer, subject to any policy or legal limitations. |
|
g
Waiver
of Premium |
■
If you become eligible for Waiver of Premium
under the Life Insurance benefit your premium for Spousal Life insurance will
also be waived. The amount of Spousal
Life insurance for which premiums will be waived will be the amount in force
on your date of disability. ■
Waiver of premium terminates at age 65 or
earlier retirement. |
|
g
Evidence
of Insurability |
■
This form is required on all amounts of
coverage in excess of $20,000. |
|
g
Termination
of Benefit |
■
The benefit terminates at the earlier of your
age 65 or retirement or your spouse’s age 65. |