Amount of Insurance: the Associate may select the benefit amount for which they are to be insured

Minimum Benefits Amount: $10,000 Max Benefit Amount: $500,000.00 (cannot elect more than ten times annual base salary.) Elections should be made in $10,000 increments (i.e. $10,000; $20,00; $50,000; $100,000)

The Associate may elect to purchase family coverage, covering one or more dependents on the plan. If elected, the Benefits Amount for spouses and Dependents children shall be as follows:

 

If there is both a spouse and one or more eligible children covered:

Spouse’s Benefit Amount is 50% of Associate’s Benefit Amount

Each Child’s Benefit Amount 10% of Associate’s Benefit Amount

 

For example: Associate’s Benefit Amount is $100,000

Spouse’s Benefit Amount would be $50,000

Child(ren)’s Benefit Amount would be $10,000 per child

 

If there is a spouse but no eligible children covered:

Spouse’s Benefit Amount is 60% of Associate’s Benefit Amount

 

For example: Associate’s Benefit Amount is $100,000

Spouse’s Benefit Amount would be $60,000

 

 

If there is no spouse but one or more eligible children covered:

Each Child’s Benefit Amount is 15% of Associate’s benefit Amount  

 

For example: Associate’s Benefit Amount is $100,000

Child(ren)’s Benefit Amount would be $15,000 per child