2012 Benefit Enrollment Guide - Education Management Corporation
2012 Benefit Enrollment Guide - Education Management Corporation
2012 Benefit Enrollment Guide - Education Management Corporation
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Additional Life and AD&D<br />
Everyone has different needs when it comes to life insurance.<br />
The Educated Choices program allows you to tailor your life<br />
insurance protection to your specific needs. The coverage you<br />
purchase will be in addition to any company-provided coverage.<br />
This is voluntary and for full-time employees only. You will pay<br />
the entire premium amount as shown in your enrollment<br />
materials. Payments will be deducted from your paycheck on<br />
an after-tax basis.<br />
You have four options:<br />
Option 1 .… 1X Annual Salary*<br />
Option 2 .… 2X Annual Salary*<br />
Option 3 .… 3X Annual Salary*<br />
Option 4 .… Waive Coverage<br />
The combined maximum coverage allowed for basic life and<br />
additional life is $1,000,000.<br />
Don’t forget to update your beneficiary information<br />
Your beneficiary is the person(s) who will receive your life<br />
insurance benefit in the event of your death. You are<br />
encouraged to designate a beneficiary when you first elect<br />
life insurance, but it is a good idea to update that information<br />
from time to time. You can review and make changes on<br />
Employee Resource.<br />
*Annual salary is defined as current base salary plus any bonus paid the<br />
previous calendar year.<br />
Evidence of Insurability: What you need to know<br />
• New full-time employees are guaranteed coverage up to<br />
1X annual salary, up to $500,000. If you elect 2X or 3X salary,<br />
you must submit an Evidence of Insurability form. Any amount<br />
over 1X salary will be subject to carrier approval. However, you<br />
will be enrolled for 1X salary while your request for additional<br />
coverage is processed.<br />
• Employees who move from a non-full-time status to a<br />
full-time status will be treated as new employees and will<br />
be granted the 1X salary guarantee if you choose to enroll.<br />
• Existing employees may request to add or increase coverage<br />
during Open <strong>Enrollment</strong> or for a limited time after a qualifying<br />
life event (if the request is consistent with the event), such<br />
as the birth of a child. You must complete an Evidence<br />
of Insurability form, subject to the carrier’s approval.<br />
Your current level of coverage will continue while your<br />
request for increased coverage is processed.<br />
Evidence of Insurability: How does it work?<br />
• Download, print and complete the Evidence of Insurability<br />
form from Employee Resource. In order for Liberty Mutual to<br />
determine eligibility, the form includes questions about your<br />
health (or your spouse’s health for dependent spouse life).<br />
Instructions for submitting the form to Liberty Mutual are<br />
printed on the form.<br />
• Liberty Mutual will process the form. If necessary, they may<br />
ask you for more information or ask you to get a physical<br />
examination or lab work through your doctor. You are<br />
responsible for any expenses associated with the exam.<br />
It is your responsibility to follow up with Liberty Mutual in<br />
a timely manner.<br />
• Liberty Mutual will advise you if your request is approved or<br />
denied, or if the request is incomplete. If approved, the<br />
amount will be effective the first day of the month<br />
following approval.<br />
22 Questions? Contact HR One Connect at 1.888.471.3362 (1.888.HR1.EDMC).
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