Voluntary Life Insurance
Life insurance offers a way to protect your family’s financial security in case of injury or death. Life insurance needs vary greatly from one individual to the next. You may purchase voluntary life insurance coverage in increments of $10,000 to a maximum of five times your annual salary or $500,000, whichever is less. Your per-pay cost will automatically be calculated when you enroll.
During open enrollment, you do not have to answer health questions (provide Evidence of Insurability) if you increase your existing benefit amount by one increment ($10,000).
EOI (answering health questions) is required when:
- You apply for any amount over $200,000 during your initial eligibility period (up to a maximum of $500,000).
- You apply after the initial eligibility period (31 days past your eligibility date).
- You apply after a previous coverage request was denied by Carrier.
When EOI is required, your coverage request must be approved by Carrier before it can take effect.
Voluntary Short-Term Disability
We offer voluntary short-term disability insurance, which is designed to replace a portion of your income if you are prevented from working because of non-work related pregnancy, serious illness, or injury. Please note that if you apply for short-term disability, the disability needs to be 90 days from the eligibility date, NOT the submission.
Your benefit amount may be reduced by any other benefits you receive because of your disability and/or any company-paid time off that is available to you. For example, New York State Disability payments will be subtracted from the benefits you can receive from this plan.
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