The vendor is required to provide that life and disability plans
- Class description and eligibility:
• All active full-time employees of the policyholder working in the country are actively at work for the policyholder and have completed the waiting period are eligible for the insurance.
• A full-time employee is one who regularly works a minimum of 40 hours per week for the policyholder. part-time, seasonal and temporary employees of the policyholder are not eligible.
- Eligibility waiting period
• First of the month following 30 days of continuous, full-time active work
- Earnings definition
• Your gross annual income from the policyholder.
• It includes your total income before taxes and any deductions made pre-tax contributions to a qualified deferred compensation plan, or flexible spending account.
• Annual earnings include income received from commissions, bonuses, overtime pay, any other extra compensation, but does not include income received from sources other than the policyholder.
• Commissions, bonuses, overtime pay, any other extra compensation will be averaged for the lesser of:
1. the 12 full calendar month period of your employment with your employer just prior to the date of loss, or
2. The period of actual employment with your employer
- Basic life benefit
• 1x annual earnings to a maximum of $50,000 rounded to the next higher $1,000, but not less $10,000 prior to any applied reductions
• On the day you are retired by the employer, your amount of insurance is limited to $2,500
- Questions/Inquires Deadline: March 13, 2025