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City of Cocoa I Employee Benefit Highlights 12020-2021 • • Voluntary Life Insurance Voluntary Employee Life and AD&D Insurance Voluntary Spouse Life and AD&D Insurance Eligible employee may elect to purchase additional Life and AD&D Insurance on a voluntary basis through Cigna. This coverage may be purchased in New Hires may purchase Voluntary Spouse Life insurance without addition to the Basic Term Life and AD&D coverages.Voluntary Life insurance being subject to Medical Underwriting,also known as Evidence offers coverage for employee,spouse or child(ren)at different benefit levels. of Insurability(E01),up to the Guaranteed Issue amount of. $30,000 if the spouse is under age 70. New Hires may purchase Voluntary Employee Life insurance without being subject to Medical Underwriting,also known as Evidence of •. Employee must participate in Voluntary Employee Life plan for Insurability(E01),up to the Guaranteed Issue amount of the spouse to participate. lesser of three times annual salary or$250,000 if employee is • Units can be purchased in increments of$10;000 up to,not to under age 65. exceed a maximum of$50,000,however coverage cannot exceed Please Note:This does not include the Basic Life amount. 50%of the employee's Voluntary Life coverage amount. • Spouse coverage terms on 70th birthdate. • Spouse Life coverage is$0.294 per$1,000 of coverage elected per • Units can be purchased in multiples of employee's annual salary month. (rounded up to the nearest$1,000),but cannot exceed the lesser • Spouse AD&D coverage is$0.04 per$1,000 of coverage elected per of three(3)times annual salary or$300,000;the guaranteed issue month. amount is$250,000*. • Benefit amounts are subject to the following age reduction Dependent Child(ren)Life Insurance schedule: • Employee must participate in the Voluntary Employee Life plan for Reduces to 65%of the benefit amount at age 65 dependent child(ren)to participate. Reduces to 50%of the benefit amount at age 70 • For children who are less than six(6) months old there is a$500 Reduces to 35%of the benefit amount at age 75 benefit amount. • Coverage is$0.254 per$1,000 of coverage elected per month. • For children six(6) months to 19 years(up to 23 years of age,if unmarried and a full-time student) there is a $10,000 benefit • AD&D coverage is$0.04 per$1,000 of coverage elected per month. amount. *If salary increases or decreases mid plan year,Life benefit amount will adjust at • Coverage is$0.184 per$1,000 for any eligible dependent child(ren) start of next plan year. enrolled. Voluntary Family Benefit • Voluntary Dependent Child Life coverage does NOT include AD&D coverage. • Employee must participate in the Voluntary Employee Life plan for family to participate. Please Note:Employees may choose either the Voluntary Family Life benefit or the separate Spouse and/or Dependent Child(ren)Life benefit,but not both. • For legal spouses under the age of 70,there is a$5,000 benefit amount. Cigna I Customer Service:(800)732-1603 I www.mycigna.com • For children 14 days to 19 years(up to 23 years of age,if unmarried and a full-time student)there is a$5,000 benefit amount. • Coverage is a family rate of$1.37 per family unit per month. Please Note:Employees may choose either the Voluntary Family Life benefit or the separate Spouse and/or Dependent Child(ren)Life benefit,but not both. 24 ©2016,Gehring Group,Inc.,All Rights Reserved 16