BHT Investment - 2023 Benefit Guide FINAL

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GROUP LIFE INSURANCE CARRIER: QualChoice LIFE and ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) Basic Life and AD&D insurance are automatically provided to all benefitseligible employees at no cost if you enroll in any medical insurance plan. This also includes an AD&D Rider which will pay double in the event of your death. If you die as a result of an accident, your beneficiary would receive both the life and the AD&D benefits. ● Benefit Amount: $15,000 VOLUNTARY LIFE INSURANCE CARRIER: Lincoln Financial WHAT IS VOLUNTARY LIFE INSURANCE? Voluntary Life Insurance is offered through an employer but is paid by employees. WHY PURCHASE VOLUNTARY LIFE INSURANCE? ● This type of Life Insurance has limited underwriting required. This allows for people with health conditions or lifestyles that might otherwise disqualify them to qualify for Life Insurance. ● The group rates are lower than what you could purchase on your own. ● You may purchase a policy for your spouse and children. ● You may purchase a policy for your spouse and children IF you elect coverage for yourself. REMINDER Review your beneficiary designations 10
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 11
Page 1: BHT Investment Co. 2023 BENEFITS EN
Page 4 and 5: BENEFITS OVERVIEW ENROLLMENT You ca
Page 6 and 7: MEDICAL INSURANCE CARRIER: QualChoi
Page 8 and 9: DENTAL INSURANCE CARRIER: Delta Den
Page 12 and 13: DISABILITY INSURANCE CARRIER: Linco
Page 14 and 15: VOLUNTARY CANCER INSURANCE CARRIER:
Page 16 and 17: OPEN ENROLLMENT INSTRUCTIONS During
Page 18 and 19: GLOSSARY Coinsurance: Your share of
Page 20: Prepared for: Prepared for: BHT INV

BHT Investment - 2023 Benefit Guide FINAL

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