GROUP LIFE AND AD&D
Group Basic Term Life and Accidental Death & Dismemberment (AD&D) Insurance is administered by Lincoln Financial Group. Star Truck automatically provides a $25,000 benefit at no cost to all full-time, benefit-eligible employees. Life Insurance provides a monetary benefit to your beneficiary in the event of death while employed at Star Truck. AD&D Insurance is equal to your life insurance benefit amount and is payable to your beneficiary in the event your death is a result of an accident. It may also pay benefits in certain injury instances.
Benefit Amount
Employee Life and AD&D Benefit -$25,000
Spouse Life Benefit-$3,500
Dependent Children Life Benefit
Age ≥ 6 months = $1,500, Age 14 days < 6 months = $50
VOLUNTARY LIFE AND AD&D
In addition to the Group Life and AD&D benefit, you have the opportunity to enroll in Voluntary Term Life coverage. This benefit allows for additional life insurance coverage for you, as well as coverage for your spouse and children.
Voluntary Term Life is also offered through Lincoln Financial Group. The cost of coverage is 100% employee paid through payroll deductions. Employees must elect coverage for themselves in order to elect dependent coverage. Rates are based on age and the amount of coverage elected.
Annual Open Enrollment Rules:
- Currently enrolled employees can increase coverage up to 2 increments ($20,000) without providing evidence of insurability
- Currently enrolled spouses can increase coverage up to 2 increments ($10,000) without providing evidence of insurability
- Employees who previously waived coverage can add coverage up to 2 increments ($20,000) without providing evidence of insurability
- Spouses who previously waived coverage can add coverage up to 2 increments ($10,000) without providing evidence of insurability
- Employees and spouses who were previously withdrawn or denied coverage due to evidence of insurability must submit evidence of insurability for any additional amount elected.
- Below provides a general summary of the plan’s benefits.
Please refer to the Benefits Summary that can be found on Employee Navigator for more information.
Employee-Increments of $10,000 up to a maximum of $300,000
- limited to 5X your annual salary
- $20,000 minimum required
- Guarantee Issue: $150,000 (no more than 5X annual salary)
Spouse-Increments of $5,000 up to a maximum of $50,000
- limited to 50% of employee benefit
- Guarantee Issue: $50,000
- $20,000 minimum required.
Child(ren)-Increments of $5,000 up to $10,000
- Guarantee Issue: $10,000
- Benefits reduce to 65% at age 75
Coverage terminates at retirement
SHORT TERM DISABILITY
Short-Term Disability Insurance provides you with income protection in the event you are unable to work for a short period of time due to an illness or non-occupational injury. This benefit is provided by Star Truck Rentals at no cost to you through Lincoln Financial.
Benefit Percentage -70% of weekly salary; for the max benefit please see Benefits Guide or CBA
Elimination Period
Injury – 0 days
Illness – 7 days
LONG TERM DISABILITY
Long Term Disability insurance provides you with income protection should you be unable to work for an extended period of time due to an illness or non-occupational injury. This benefit is provided by Star Truck Rentals at no cost to you through Lincoln Financial.
Employer Paid Long-Term Disability Plan Benefit Percentage
- 60% of monthly salary; up to $1,000 per month
Elimination Period
- 90 days
Pre-Existing Condition
- If you have been treated for a condition in the 6 months prior to coverage, benefits will not begin until you have been covered under this plan for 12 months
Maximum Benefit Duration
- 5 Years if under 65 at time of disability
- To age 70 if age 65 through 68 at time of disability
- 1 Year if age 69 and over at the time of disability