Life Insurance Benefits

It’s important to have a plan in place to provide for your family if something were to happen to you. Survivor benefits provide financial protection for your loved ones in the event of an unexpected event.

Life Insurance Benefits

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Coverages

Coverage Name	Carrier	Paid By	Eligibility	Benefit Amount	Coverage Increment	Maximum Benefit	Guaranteed Issue Amount	Evidence of Insurability Threshold	Age Reduction Schedule
Basic life	Reliance Matrix	Hamilton	If you are a full-time employee, you automatically receive Life and AD&D insurance even if you waive other coverage.	1x base earnings, up to $500,000	-	$500,000	-	-	-
Basic ad&d	Reliance Matrix	Hamilton	If you are a full-time employee, you automatically receive Life and AD&D insurance even if you waive other coverage.	1x base earnings, up to $500,000	-	$500,000	-	-	-
Voluntary employee life	Reliance Matrix	Employee	-	$25,000 increments, up to 5x your salary or $500,000, whichever is lower	$25,000 increments	$500,000	$200,000	Yes, if elect coverage over the Guaranteed Issue amount or if you enroll after initial eligibility period. Guaranteed Issue amount for new hires is $200,000	Age reductions may apply to life insurance amounts after age 69.
Voluntary spouse life	Reliance Matrix	Employee	-	$5,000 increments; not to exceed employee’s election amount, up to $50,000	$5,000 increments	$50,000	$25,000	Yes. Guaranteed Issue amount for new hires is $25,000.	Age reductions may apply to life insurance amounts after age 69.
Voluntary child life	Reliance Matrix	Employee	-	$10,000	-	Cannot exceed employees election amount	$10,000	Yes. Guaranteed Issue amount for new hires is $10,000	Age reductions may apply to life insurance amounts after age 69.

Basic life

Carrier: Reliance Matrix
Paid By: Hamilton
Eligibility: If you are a full-time employee, you automatically receive Life and AD&D insurance even if you waive other coverage.
Benefit Amount: 1x base earnings, up to $500,000
Coverage Increment: -
Maximum Benefit: $500,000
Guaranteed Issue Amount: -
Evidence of Insurability Threshold: -
Age Reduction Schedule: -

Basic ad&d

Carrier: Reliance Matrix
Paid By: Hamilton
Eligibility: If you are a full-time employee, you automatically receive Life and AD&D insurance even if you waive other coverage.
Benefit Amount: 1x base earnings, up to $500,000
Coverage Increment: -
Maximum Benefit: $500,000
Guaranteed Issue Amount: -
Evidence of Insurability Threshold: -
Age Reduction Schedule: -

Voluntary employee life

Carrier: Reliance Matrix
Paid By: Employee
Eligibility: -
Benefit Amount: $25,000 increments, up to 5x your salary or $500,000, whichever is lower
Coverage Increment: $25,000 increments
Maximum Benefit: $500,000
Guaranteed Issue Amount: $200,000
Evidence of Insurability Threshold: Yes, if elect coverage over the Guaranteed Issue amount or if you enroll after initial eligibility period. Guaranteed Issue amount for new hires is $200,000
Age Reduction Schedule: Age reductions may apply to life insurance amounts after age 69.

Voluntary spouse life

Carrier: Reliance Matrix
Paid By: Employee
Eligibility: -
Benefit Amount: $5,000 increments; not to exceed employee’s election amount, up to $50,000
Coverage Increment: $5,000 increments
Maximum Benefit: $50,000
Guaranteed Issue Amount: $25,000
Evidence of Insurability Threshold: Yes. Guaranteed Issue amount for new hires is $25,000.
Age Reduction Schedule: Age reductions may apply to life insurance amounts after age 69.

Voluntary child life

Carrier: Reliance Matrix
Paid By: Employee
Eligibility: -
Benefit Amount: $10,000
Coverage Increment: -
Maximum Benefit: Cannot exceed employees election amount
Guaranteed Issue Amount: $10,000
Evidence of Insurability Threshold: Yes. Guaranteed Issue amount for new hires is $10,000
Age Reduction Schedule: Age reductions may apply to life insurance amounts after age 69.