| |
Contents Close |
|
| |
| |
SPOUSAL LIFE INSURANCE
|
|
| |
Spousal Life Insurance
provides coverage in case of your spouse's death. My Choice offers
the following coverage.
|
|
| |
| |
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 |
|
|
| |
| Making Choices: |
First decide if you want Spousal Life Insurance coverage.
|
| Tax Facts: |
When Flex Dollars are
used to pay for all or any part of Spousal Life Insurance it
is considered a taxable benefit. If you use payroll deduction
to pay for your Spousal Life Insurance you are using after-tax
dollars and saving your Flex Dollar Allowance to buy other non-taxable
benefits. |
| Coverage Level: |
Choose the coverage level from the drop down box by selecting Option 1, 2, 3, 4, 5 or 6.
Payment Method: Flex Dollars, payroll deduction or combination.Beneficiary |
|
|
|
| |
|
|
| |
SPOUSAL LIFE INSURANCE
DETAILS
The following is a further description of some of the
specific elements of your Spousal Life Insurance plan.
|
Beneficiary |
- You may change your beneficiary at any time by written notice to your Employer, subject to any policy or legal limitations.
|
|
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.
|
|
Evidence of Insurability |
- Required
on all amounts of coverage on initial enrollment and any increased
amount on subsequent re-enrollments.
|
|
Termination of Benefit |
- The benefit terminates at the earlier of your age 65 or retirement or your spouse's age 65.
|
|
|
| |
| |
Contents Close |
|
| |