How the Plan Works

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	Personal Life Insurance Plan

	The Plan at a Glance

	Participating in the Plan

	How the Plan Works

		Definition of Salary

		Cash Values and Dividends

		Loan Provisions

		Additional Benefits

	Filing a Claim

	Glossary

How the Plan Works

You may purchase coverage for yourself and you may also elect to cover your spouse (or approved domestic partner) and dependent children under this program.

You are eligible for up to three times your annual base salary for a maximum of $200,000 under Contingent Guaranteed Issue guidelines as a new employee. Coverage is also available from $201,000 up to $500,000 with Simplified Underwriting.

The Company will pay 26% of the employee's premium up to $100,000 in coverage.

Additional Plan Features

once your policy is issued, the rates will remain the same

the policy is owned by you and is completely portable

the cash value that your policy accumulates is guaranteed. Plus, should the need arise, you can take a loan from your policy's cash value

the full death benefit will be paid as long as the policy is in effect; it will not decrease as you grow older

at retirement you can elect to take reduced paid-up insurance, depending on the amount in your policy's cash value, with no further premium payments.

What is the difference between Personal Life and other Group Life Insurance?

Both Personal Life and Group Life Insurance provide life insurance protection.

The main differences are:

Personal Life Insurance is a whole life insurance policy; meaning that you own the policy outright. Premiums will remain level and will never change unless you change your coverage amount

Group Life Insurance is term insurance, which means that the Company owns the policy and you are only covered while employed with the Company

If I am on an authorized unpaid leave of absence, does the Plan still provide a benefit?

If the Company grants you an authorized unpaid leave of absence, you may continue coverage for the duration of your authorized period of leave. It is your responsibility to pay any employee contributions due.

If I am disabled, does the Plan still provide a benefit?

Your coverage is portable and will remain in effect as long as you continue to pay premiums. If you are no longer eligible for payroll deductions, an invoice will be sent directly to your home.

If I die?

If you die, your beneficiary needs to file a claim. If you do not name a beneficiary, or if your beneficiary is not alive when you die, the benefit will go to your estate.