Supplemental Life Insurance & Long Term Disability Insurance
- Jul 10, 2023
- 4 min read
Updated: Jul 11, 2023
In an effort to provide our team with the most pertinent information, I have condensed all of the attachments received from corporate to the best of my ability and present you the following: enrollment instructions, explanation of EOI (Evidence of Insurability) and a breakdown of benefits.
Start/End Date: Enrollment for our supplemental voluntary life insurance policy and hourly long term disability opened today (Monday, July 10, 2023) and ends on Monday, July 24.
Paper handouts of the EOI & Enrollment instructions have been placed in the breakroom on the corner table or you may click on the associated link below for Benefit Election Instructions and/or EOI Instructions.
Enrollment Instructions:
Go to: https://lfg.benselect.com/cardinal1 or use the following QR Code:
Log in using the following credentials – you will be required to reset your password upon login.
Login Name: Employee ID or Employee SSN
Password: Last 4 digits of SSN, followed by last 2 digits of their year of birth
Evidence of Insurability (EOI)
Evidence of Insurability must be completed if a team member elects coverage over the guaranteed issue amount for themselves or their spouse. During enrollment, the system will notify them if Evidence of Insurability is required.
Please see attachment titled “Life Insurance- EOI Instructions.pdf” if you plan to elect over the guaranteed issue amount. Guaranteed issue amount without EOI requirements are: Self = $250,000 & Spouse = $100,000.
If you are required to provide EOI, please answer the EOI questions as follows:
Are you a new employee electing coverage for the first time- No
As an existing employee, please select the reason you are updating your coverage- Annual Enrollment
In most cases, employees will be automatically approved for the coverage. If they are not automatically approved, Lincoln will contact them directly about what additional information is required. Employees will need to supply that additional information within 30 days.
If an employee does not provide the additional information, they will not be approved for the life insurance above the guaranteed issue amount of $250,000.
Shanell's Schedule for week 7/10/2023-7/16/2023:
For those of you who have additional questions regarding these benefits, please do not hesitate to contact me or stop me on the floor. Texts, FB Messenger and phone calls are welcomed if you can’t meet in person! 715-768-9013
To better assist you:
3rd shift – I will be in early Wednesday morning around 4:00 AM
2nd shift – I am in the building Monday, Tuesday and Thursday this week until 5pm and can stay until 6:30pm if needed
WKD shift – On site Sunday, July 16 in the AM
1st shift – Anytime you’re available: either stop me or come see me today, Tuesday, or Thursday before you leave – I will be out of the building Wednesday at 3pm and stepping out Thursday from 3:20-4:15pm
BREAKDOWN OF BENEFITS
Voluntary Life Insurance
Premiums will be deducted (post-tax) on biweekly paychecks.
Provides a cash benefit to beneficiaries in the event of a death.
The plan options are the same for all hourly and salaried employees.
This coverage can be converted to an individual policy if employment ends.
Rates will change upon conversion to an individual policy.
Rates are included on pages 4 and 5 of the Voluntary Life Benefit Summary attached.
Rates change when an employee/dependent spouse enters a new age group, however, the change does not occur until the calendar year changes (so let’s say I am 44 when I sign up next month for coverage effective 8/1 but I turn 45 in September – I would keep the 40-44 age band group rate until the calendar year changes vs. having the rate change as soon as I turn 45).
Spousal and dependent life can be elected without an employee life coverage election.
Employee Life
Elected in increments of $25,000
The Guaranteed Issue amount is $250,000
The Maximum Coverage amount is $500,000
Can be increased by one level at each annual enrollment without EOI. If more than 1 level is elected (ex. I have $25k in coverage, but I attempt to go up to $75k at annual enrollment), EOI would be required.
Spouse Life
Elected in increments of $10,000
The Guaranteed Issue amount is $30,000
The Maximum Coverage amount is $100,000
Dependent Children Life (under 26 years)
$10,000 base amount
Voluntary Long- Term Disability Insurance- Hourly Employees
Premiums will be deducted (post-tax) on biweekly paychecks.
Provides a cash benefit for employees that are out of work for 90 days or more due to injury, illness, or surgery.
Please note that this plan will pay even if an employee terminates from Cardinal as long as the employee had active coverage as of their date of disability. Once the employee is out of work with an active disability claim, should they be terminated, that termination of employment will not cause their LTD claim to be discontinued.
FMLA, STD Benefits, and Personal Leave of Absence Policies all remain the same. The LTD is in addition as an added monetary benefit for the employee. Long term disability benefits will not extend employment if all leaves are exhausted.
Rates are included on page 3 of the Voluntary LTD summary attached.
Rates change when an employee/dependent spouse enters a new age group, however, the change does not occur until the calendar year changes (so let’s say I am 44 when I sign up next month for coverage effective 8/1 but I turn 45 in September – I would keep the 40-44 age band group rate until the calendar year changes vs. having the rate change as soon as I turn 45).
50% of monthly pay, limited to $5,000 per month
90-day elimination (waiting) period--this would begin after STD exhausts
Do not hesitate to contact me if you need assistance or if you have any questions.
Thank you kindly,
Shanell Lemons
Human Resources & Training Manager
715-768-9013 (cellular)
ADDITIONAL MATERIALS:
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