East Wake Academy 2023 Benefits Guide 23-24PY

Page 31

Group Term Life Insurance East Wake Charter Schools

How secure is your family’s future without you? Losing a loved one is always difficult. The last thing you need to worry about is the financial cost. Funeral expenses, medical bills and taxes are just the tip of the iceberg. Do you know how you would cover ongoing living expenses such as the mortgage, healthcare and utilities? Plan for the future with Colonial Life’s group term life insurance.

My coverage worksheet What is group term life insurance? Death benefit protection Lower cost option Provides coverage for specified periods of time, which can be during high-need years Benefit is typically paid tax-free to your beneficiaries Employer paid group term life - each employee will be provided with $10,000 in employer paid Group Term Life.

How much coverage do I need? n You $___________________________

n Your spouse*

n Your dependent children*(Up to age 26)

$___________________________

$___________________________

Available in $1,000 increments

Available in $1,000 increments

Minimum of $10,000 to a maximum of 5 times your salary to $500,0003

Minimum of $5,000 to a maximum of $500,0003

Benefits available in $1,000 increments to a maximum of $10,000. The maximum benefit payable to children less than 6 months of age is $1,000 regardless of the benefit amount purchased. One rate covers all children in the same family

Spouse coverage cannot exceed your coverage amount1

Each dependent child is covered for the same amount, except children from live birth to 6 months for whom the death benefit is $1,000

*Dependent coverage must be sold in conjunction with supplemental coverage for the employee. **The children’s term rider rates are per thousand per dependent unit. The children’s term rider is a blanket rider that covers all dependent children; therefore, one premium covers all children.

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CONTINUATION OF COVERAGE

0
page 94

COBRA Continuation of Cover-

12min
pages 90-93

Whole Life Plus Insurance

4min
pages 86-87

Term Life Insurance

3min
pages 82-83

Hospital Confinement Indemnity Insurance

1min
page 79

Hospital Confinement Indemnity Insurance Medical Treatment Package

1min
pages 78-79

SHORT-TERM DISABILITY PREMIUMS

4min
pages 63-68

Frequently Asked Questions

2min
pages 61-62

Short-Term Disability

2min
pages 58-60

Important Plan Provisions

2min
page 55

Voluntary Long-Term Disabilit y Insurance

2min
pages 53-54

Specified Critical Illness Insurance

1min
pages 48-49

Cancer Assist Benefits Overview

2min
pages 42-43

Cancer Insurance

1min
page 41

Life Planning Services

1min
pages 37-40

Health Advocate Employee Assistance + Work/Life Programs

0
page 36

Group Term Life Insurance East Wake Charter Schools

4min
pages 31-33

Vision plan benefits for East Wake Academy

1min
pages 29-30

24/7 access to quality care... on your schedule! East Wake Academy

7min
pages 20-28

Dependent Care Account

2min
pages 17-18

THE FSA STORE

0
pages 15-16

Flexible Spending Account

2min
pages 13-14

HARMONY ENROLLMENT INSTRUCTIONS

1min
page 10

QUALIFYING LIFE EVENTS

2min
pages 8-9

QUALIFYING LIFE EVENTS

1min
page 7

IMPORTANT NOTICES

3min
page 6

ELIGIBILITY REQUIREMENTS

0
page 4

EMPLOYEE BENEFITS GUIDE

0
page 2
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