2013 Sprint Benefits Guide
2013 Sprint Benefits Guide
2013 Sprint Benefits Guide
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Employee Life Insurance from <strong>Sprint</strong> is portable; using the Portability or Life<br />
Conversion option, your coverage can be retained no matter where you work.<br />
Please see the Summary Plan Description at i-Connect > My Life & Career<br />
> <strong>Benefits</strong>.<br />
Rules for Supplemental Employee Life Insurance<br />
• Evidence of insurability is required if you choose a higher level of<br />
Supplemental coverage in excess of $300,000 or coverage that is greater than<br />
three times your benefits eligible earnings.<br />
• Maximum Supplemental coverage amount is $2 million.<br />
• If you are an existing employee who has previously waived Life Insurance<br />
coverage, you are limited to $10,000 only at this enrollment. Once you have<br />
enrolled, you may increase this amount during subsequent enrollments.<br />
Life Insurance beneficiaries<br />
When you enroll in Employee Life Insurance and/or Accidental Death &<br />
Dismemberment Insurance (AD&D), you must designate your beneficiaries. You<br />
may make changes to these designations at any time during the plan year by<br />
going to i-Connect > PeopleSoft Employee Self Service > <strong>Benefits</strong> Home<br />
and clicking on either Basic Employee Life or AD&D within the <strong>Benefits</strong> Summary<br />
section. If you elect Supplemental Employee Life coverage, the Beneficiary<br />
designations you make on Basic Employee Life will also be applied to your<br />
Supplemental Employee Life Plan election.<br />
The details… Employee Life Insurance<br />
Basic Employee Life Insurance (paid for by <strong>Sprint</strong>)<br />
Waive coverage<br />
(receive taxable earnings credit)<br />
$10,000<br />
(receive taxable earnings credit)<br />
$50,000 or<br />
1x <strong>Benefits</strong> Eligible<br />
Earnings (whichever is lower)<br />
Supplemental Employee Life Insurance<br />
(premiums paid for by you, and you must first enroll in highest available level of Basic Employee Life Insurance)<br />
Waive coverage<br />
3x <strong>Benefits</strong><br />
Eligible Earnings<br />
6x <strong>Benefits</strong><br />
Eligible Earnings<br />
1x <strong>Benefits</strong><br />
Eligible Earnings<br />
4x <strong>Benefits</strong><br />
Eligible Earnings<br />
7x <strong>Benefits</strong><br />
Eligible Earnings<br />
2x <strong>Benefits</strong><br />
Eligible Earnings<br />
5x <strong>Benefits</strong><br />
Eligible Earnings<br />
8x <strong>Benefits</strong><br />
Eligible Earnings<br />
Dependent Life Insurance: Coverage for your family<br />
Dependent Life Insurance provides a benefit to you in the event of the death of your<br />
spouse/domestic partner or a child. You pay the cost of this insurance with after-tax<br />
dollars.<br />
Rules for Dependent Life Insurance<br />
• Coverage for your spouse/domestic partner is limited to no more than 100% of<br />
your Employee Life Insurance amount.<br />
• Coverage for your child(ren) cannot be more than your Employee Life<br />
Insurance amount.<br />
• Evidence of insurability is required for spouse/domestic partner coverage over<br />
$25,000.<br />
• If Child Life Insurance is selected, any additional children born during the year<br />
are covered starting at birth<br />
• If you are an existing employee who has previously waived Dependent Life<br />
Insurance for your spouse/domestic partner, you are limited to only $5,000<br />
coverage. Once you have enrolled, you may increase this amount during<br />
subsequent enrollments subject to Evidence of Insurability.<br />
The details… Dependent Life Insurance coverage level options<br />
for your spouse/domestic partner<br />
$5,000 $10,000 $25,000 $50,000 $75,000 $100,000 $200,000<br />
and/or for your child(ren)<br />
$5,000 each child $10,000 each child $20,000 each child<br />
or Waive Coverage<br />
Evidence of Insurability (EOI) and personal health applications<br />
Depending on the Supplemental Employee and/or Dependent Life Insurance<br />
coverage level you select, you may be required to show Evidence of Insurability<br />
(EOI) by completing a personal health application. If you are signing up for new<br />
Supplemental Employee Life Insurance or are increasing your current level of<br />
Employee Life Insurance and your new coverage level will (a) exceed $300,000<br />
and/or (b) be more than three times your <strong>Benefits</strong> Eligible Earnings, you will be<br />
required to provide EOI. Any new or increased Dependent Life Insurance for your<br />
spouse/domestic partner that exceeds $25,000 requires EOI. Employees and<br />
dependents will receive information on how to complete this questionnaire within<br />
a few weeks after their <strong>2013</strong> coverage Life Insurance benefit-effective date.<br />
64<br />
Note: Your “<strong>Benefits</strong> Eligible Earnings” is defined as your annual base pay plus any targeted incentives<br />
or commissions for which you are eligible.<br />
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