Employee-Paid Term Life Insurance

Offered by Life Insurance Company of North America Employee-Paid TERM LIFE INSURANCE Summary of Benefits Prepared for: Elkhart Community Schools Eligibility: All active Employees of the Employer classified as Classified, regularly working a minimum of 30 hours per week in the United States, who are citizens or permanent resident aliens of the United States, excluding Employees classified as Custodian. Employee:You will be eligible for coverage immediately. Spouse*: Up to age 70, as long as you apply for and are approved for coverage yourself. Child(ren): 14 days old to age 19, or age 26 if a full-time student, as long as you apply for and are approved for coverage yourself. *Domestic Partner is defined in the Group Policy. For purposes of this brochure, wherever the term Spouse appears, it shall also include Domestic Partner registered under any state which legally recognizes Domestic Partnerships or Civil Unions. Additional information is available from your Benefit Services Representative. AvailableCoverage: Benefit Amount Maximum Guaranteed Issue Amount Employee Units of $10,000 Lesser of 5 times salary or $500,000 $100,000 Spouse Units of $10,000 $250,000not to exceed50% of the $50,000 employees benefit Children Units of $1,000 $10,000; under 6 Months old $500 All amounts Guaranteed Issue means that you may be able to purchase coverage without medical exams or health questions. See “Guaranteed Issue” below for more information. Additional Features: Continuation of Disability – If your active service ends due to disability, at age 60 or over, your life insurance coverage will continue while you are disabled. Benefits will remain in force until the earliest of: the date you are no longer disabled, the date the policy terminates, the date you are Disabled for 12 consecutive months, or the day after the last period for which premiums are paid. You are considered disabled if, because of injury or sickness, you are unable to perform all the material duties of your Regular Occupation, or you are receiving disability benefits under your Employer’s plan. Extended Death Benefit with Waiver of Premium – The extended death benefit continues your coverage without payment of premium, before you’re eligible to qualify for Waiver of Premium, if you are continuously Disabled for 6 months prior to age 70. “Disabled” means, because of injury or sickness, you are unable to perform all the material duties of your regular occupation, or you are receiving disability benefits under a program sponsored by your Employer. Regular Occupation means the occupation you routinely performed at the time your Disability began. We/the insurance company will consider the duties of your occupation as those that are normally performed in the general labor market in the national economy. If you qualify for this benefit and have insured your spouse or children, the insurance company will also extend their coverage if applicable. Waiver of Premium – If you become Disabled prior to age 70, and you remain Disabled continuously for a 6 month period and thereafter, you won’t need to pay premiums for your life insurance coverage, provided we/the Insurance Company determine(s) you are Disabled. “Disabled” for this coverage means, because of injury or sickness, you are unable to perform the material duties of your regular occupation, or are receiving disability benefits under a program sponsored by your employer, for the first 12 months after your Disability began. Thereafter, you must be unable to perform the material duties of any occupation that you are or may reasonably become qualified based on your education, training or experience. If you qualify for this coverage and have insured your spouse or children, the insurance company will also waive their premium if applicable. Accelerated Death Benefit – Terminal Illness – if two unaffiliated doctors diagnose you or your spouse as terminally ill while the coverage is active, with a life expectancy of 12 months or less, the benefit for Terminal Illness provides up to: Employee:75% of your Term Life Insurance coverage amount or $375,000, whichever is less. Spouse:75% of your Term Life Insurance coverage amount or $187,500, whichever is less. Portability – If your employment is terminated, you can continue your life insurance on a direct-bill basis. Coverage may also be continued for your spouse/children. Premiums will increase at this time. Coverage can be continued to age 70, unless the insurance company terminates portability for all insured persons. Refer to your certificate for details. Conversion – To convert, you must apply for the conversion policy and pay the first premium payment within 31 days after your group coverage ends.