Employee
Life Insurance
These Life benefits provide you with the opportunity to choose
various life insurance options. The selection of some options will require you
to provide evidence of your insurability (EOI). A pop up will appear if EOI
is required. At the end of the enrollment after you have hit the
"Confirm" button you will be provided an opportunity to print out the
required EOI forms. The form is required by the insurance company to determine
whether you satisfy their health requirements. While awaiting the approval Webs
will automatically enroll you in an option that does not require EOI. Once your
approval has been received your plan will be brought up to date and the
coverage will be effective from that time forward.
Employee
Basic Life Insurance |
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Option 1 |
Option 2 |
Option 3 |
Option 4 |
Option 5 |
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100% of annual earnings to a maximum of $1,000,000,
reducing by 50% at age 65. Any amount of Employee Basic Life Insurance over $600,000 is
subject to approval of evidence of insurability |
200% of annual earnings to a maximum of $1,000,000,
reducing by 50% at age 65. Any amount of Employee Basic Life Insurance over $600,000 is
subject to approval of evidence of insurability |
300% of annual earnings to a maximum of $1,000,000,
reducing by 50% at age 65. Any amount of Employee Basic Life Insurance over $600,000 is
subject to approval of evidence of insurability |
400% of annual earnings to a maximum of $1,500,000,
reducing by 50% at age 65. Any amount of Employee Basic Life Insurance over $600,000 is
subject to approval of evidence of insurability |
500% of annual earnings to a maximum of $1,500,000,
reducing by 50% at age 65. Any amount of Employee Basic Life Insurance over $600,000 is
subject to approval of evidence of insurability |
Optional
Employee Life |
All
Options |
Optional
Employee Life Insurance based on units of $10,000 to a maximum benefit of
$500,000. |
Units
of $10,000 to a maximum of %500,000.
Coverage terminates at age 70 or earlier retirement. |