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00 �}: Martin County Sheriff's Office I Employee Benefit Highlights 12020-2021 Basic Life and AD&D Insurance Additional Life and AD&D Insurance Basic Term Life Insurance Eligible employee may elect to purchase additional Life and AD&D insurance The Sheriff's Office offers a contribution of 50%toward the cost of a$20,000 on a voluntary basis through the Standard.This coverage may be purchased Basic Term Life and Accidental Death & Dismemberment (AD&D) benefit in addition to the Basic Term Life and AD&D coverage.Voluntary life insurance through The Standard,for all active employees.Employees with dependent(s) offers coverage for employee, spouse and/or child(ren) at different benefit may also elect a Basic Dependent Life insurance benefit of$5,000 for a spouse levels.Employee will be responsible for 100%of the premium for this policy. and/or a$2,500 benefit on each dependent child(from birth through age 20, Eligibility Requirements or through age 24 if a full-time student). To be eligible for this plan: Accidental Death&Dismemberment Insurance • Employee must participate in the Basic Term Life and AD&D plan offered by the Sheriff's Office. Also, included with the enrollment in the Basic Term Life insurance, the • Employee must be an active employee of the Martin County Sheriff's Sheriff's Office offers Accidental Death&Dismemberment(AD&D)insurance, Office,excluding temporary and seasonal employees,full-time members which pays in addition to the Basic Term life benefit when death occurs as of the Armed Forces,leased employees and independent contractors. a result of an accident.The AD&D benefit amount equals the Basic Term Life • Employee must be regularly working at least 20 hours each week. benefit,partial benefits may also be payable. • For Dependent Life Insurance;employee's spouse or dependent child(ren) must not be full-time members of the Armed Forces. Age Reduction Schedule Benefit amounts are subject to the following age reduction schedule: Additional Employee Life Coverage Amount • Reduces to 65%of the benefit amount at age 65 • Units can be purchased in increments of$10,000 to the maximum of • Reduces to 50%of the benefit amount at age 70 $300,000. • If employee elects an amount of additional life coverage greater than • Reduces to 35%ofthe benefit amount at age 75 $100,000(the Guaranteed Issue amount),the excess will be subject to The reduction will be effective January 1 following the employee's birthday. Medical Underwriting approval. Basic Life and AD&D Insurance Additional Spouse Life Coverage Amount Payroll Deductions Monthly Premiums • Units can be purchased in increments of $10,000 to a maximum of $300,000 not to exceed 100%of the employee's combined Basic and Tier of Coverage Employee Cost Voluntary Life coverage amount. • Employee Only $3.00 • If employee elects an amount of spouse life coverage greater than Employee+Family $3.72 $20,000 (the Guaranteed Issue amount), the excess will be subject to Medical Underwriting approval. Retirees Age Reduction Schedule Upon retirement,employee may continue the Basic Term Life coverage with Benefit amounts are subject to the following age reduction schedule: a reduced benefit amount of$5,000(AD&D for retirees is not available and • Reduces to 65%of the benefit amount at age 70 dependent coverage,if previously elected,will be terminated). • Reduces to 45%of the benefit amount at age 75 • Reduces to 30%of the benefit amount at age 80 Always remember to keep beneficiary information updated. • Reduces to 20%of the benefit amount at age 85 Beneficiary information may be updated at anytime through • Reduces to 15%of the benefit amount of age 90 Human Resources. • Reduces to 10%of the benefit amount at age 95 The reduction will be effective January 1 following the employee/spouse The Standard I Customer Service:(888)937-4783 I www.standard.com birthday. Please Note:Applications for all plans will be subject to Medical Underwriting approval(Except new hires under the Guarantee Issue.) 126 17 ©2016,Gehring Group,Inc.,All Rights Reserved