Basic Life Insurance
Features of this plan include:
- Coverage is equal to one times your eligible salary (base pay plus target short-term incentive), rounded to the next $1,000.
- Frozen Exec Life - If you were a legacy CTl Director or VP on 12/31/07, you have a frozen life benefit. Refer to the Benefits Online System for coverage amount.
- Company paid
Supplemental Employee Life Insurance
Features of this plan include:
- Seven coverage options: 1 times to 7 times your base pay, rounded to the next $1,000
- Coverage maximum equal to $2,000,000
- Evidence of insurability required if coverage is greater than two times eligible pay or $300,000
- Employee paid (post tax)
Spouse Life Insurance
Features of this plan include:
- Seven coverage options: $5,000, $10,000, $25,000, $50,000, $75,000, $100,000 and $200,000
- Coverage amount cannot exceed 50% of employee life insurance coverage.
- Must be enrolled in Supplemental Employee Life Insurance
- Evidence of insurability required if coverage is greater than $25,000
- Employee paid (post tax)
Child(ren) Life Insurance
Features of this plan include:
- Three coverage options: $5,000, $10,000 and $20,000
- Coverage amount cannot exceed employee life insurance coverage
- Must be enrolled in Supplemental Employee Life Insurance
- Evidence of insurability is not required
- Employee paid (post tax)