Page 40 - 2021 Team Member Benefit Guide - English
P. 40

Survivor Benefits




     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   ;   Your current legal spouse;
     children. The premium cost for optional   ;   An unmarried child from live birth to age
     coverage is paid by you through payroll      26 (meaning 25 years of age or younger);
     deductions. Enrollment in Optional Life and   ;   An unmarried child age 26 and above
     Voluntary AD&D are separate elections.       who is financially dependent on you due
                                                  to a disability
     Note: Evidence of Insurability (EOI)
     may apply to Employee and                The Company will not seek to verify you have
     Spouse Optional Life. EOI                enrolled an eligible dependent in these plans.
     is never required for Vol.               If you enroll an ineligible dependent for life
     AD&D or Child Life. EOI                  insurance or AD&D, there will be no benefit
     Guidelines can be viewed by              payout in the event of a loss. Your dependents
     clicking here or by scanning             who are insured under these plans as an
     the QR code.                             Employee of the Company may not also be
                                              insured as a dependent.











  Mark Whipple, Driver
  Iowa Falls, IA










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