Page 36 - 2020 Benefits Guide

Survivor Benefits What happens to those you love if something

happens to you?

Life and Accidental Death & Dismemberment Insurance - The Company provides you
with 100% company-paid Basic Life and AD&D. The coverage equals your annual base
pay, rounded to the next $1,000 up to $500,000.* You have the option to purchase additional
coverage for yourself, your spouse and your children.

Make sure to designate a beneficiary, even if you don’t elect additional coverage! If
you do not name a beneficiary, your life insurance proceeds will be distributed to either your
estate or equally among your immediate family members – if we can identify and find them!

Minor Children – If you name a minor child as a beneficiary, the insurance company will
NOT pay proceeds directly to a minor child. Depending on the state, a guardian will need
to be appointed who can accept the proceeds on behalf of the child – a complex and
often costly process! A better option is to name a trusted adult or set up a trust to accept
the proceeds.

Optional Life and Voluntary AD&D Eligible Dependents for Spouse and
You have the option to purchase additional Child Life and AD&D:
coverage for yourself, your spouse and ; Your current legal spouse;
your children. The premium cost for ; An unmarried child from live birth to
optional coverage is paid by you through age 26 (meaning 25 years of age or
payroll deductions. Enrollment in Optional younger);
Life and Voluntary AD&D are separate ; An unmarried child age 26 and above
elections. who is financially dependent on you
due to a disability

The Company will not seek to verify you
have enrolled an eligible dependent in
these plans. If you enroll an ineligible
dependent for life insurance or AD&D,
there will be no benefit payout in the event
of a loss. Your dependents who are insured
under these plans as an Employee of the
Company may not also be insured as a
dependent.

Paul Johnston, Manager Installation
Great Falls, MT Lumber

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