BHT Investment - 2022 Employee Benefit Guide

VOLUNTARY LIFE INSURANCE
CARRIER: Lincoln Financial
Employee Benefit
● Benefit Amount: $10,000 increments up to $500,000 not to exceed 5x your annual base salary
● Employees age 70+ Maximum Benefit: $50,000
● Guarantee Issue: $150,000 (only available during New Hire eligibility)
● AD&D Benefit: Equal to Life amount elected
● Benefit Reduction Schedule: 35% at age 65
○ Additional 25% of original amount at age 70
○ Additional 15% of original amount at age 75
○ Additional 15% of original amount at age 80
● Benefit Termination: Benefits terminate at retirement
Spouse Benefit
● Benefit Amount: $5,000 increments up to $250,000, not to exceed Employee amount
● Guarantee Issue: $30,000 (only available during New Hire eligibility)
● AD&D Benefit: Equal to Spousal Life amount elected
● Benefit Reduction Schedule: 35% at Employee age 65
● Benefit Termination: Benefits terminate at Employee age 70 or retirement, whichever occurs first.
Child(ren) Benefit
● Child 14 days to 6 months old: $250
● Child 6 months to age 19 years (25 if a full-time student): $10,000
OPEN ENROLLMENT
If you are currently enrolled and your benefit is under Guarantee Issue, the employee can increase
your benefit by $10,000 or $20,000 without medical questions will be required.
If you waived coverage during your New Hire eligibility period and want to elect coverage now,
medical questions will be required and subject to approval.
REMINDER
Review your beneficiary designations
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