Life and Disability insurance, through Lincoln Financial, provides financial security to you and your family, if you pass away or become unable to work.
As an eligible employee, you receive Basic Life insurance equal to 1.5 times your annual earnings, to a maximum of $1,000,000. Basic Life is provided by the company, at no cost to you.
In addition to your Basic Life coverage, you may buy Voluntary Life coverage at discounted rates. The chart describes the amounts of coverage you can buy for yourself, your spouse, and your child(ren).
| Benefit Features | Voluntary Life Options* | ||
|---|---|---|---|
| Employee | Spouse | Dependent Child(ren) | |
| Coverage Options | 1x, 2x, 3x. 4x, or 5x your annual salary | 0.5x, 1x, 1.5x, 2x, or 2.5x your annual salary | 14 days – 6 months: $250 6 months – 26 years: $10,000 |
| Maximum | $750,000 | $250,000 (cannot exceed employee coverage) | |
| Guaranteed Issue Amount | $300,000 | $50,000 | |
| Guaranteed Issue Period | Within 30 days of benefits eligibility | ||
*Evidence of Insurability (EOI) may be required beyond the guaranteed issue amount or outside of your initial benefits eligibility period.
The person(s) you select as your beneficiary(ies) will receive your coverage amount, in the event of your death.
STD coverage provides you with partial income replacement if you are unable to work due to a non-work-related illness or injury. You can purchase Voluntary STD coverage through payroll deductions.*
| STD | |
|---|---|
| Percent of Earnings | 55% |
| Weekly Maximum | $1,011 |
| Elimination Period | 7 days |
| Maximum Duration | 52 weeks |
*California employees: STD coverage is provided through the CA State Disability Program. See edd.ca.gov for more information.
LTD pays you a portion of your earnings if you cannot work for an extended period due to a disabling illness or injury. You can purchase Voluntary LTD coverage through payroll deductions. Big 5 pays half the cost of premiums for this benefit.
You will continue to receive benefits as long as you meet the definition of disability or until you reach Social Security Normal Retirement Age. Benefits are reduced by other sources of disability income you may qualify for, such as Social Security and Workers’ Compensation.
| LTD | |
|---|---|
| Percent of Earnings | 60% |
| Monthly Maximum | $15,000 |
| Elimination Period | 180 days |
| Maximum Duration | Up to Social Security Normal Retirement Age |
When deciding how much Voluntary Life and Disability coverage to buy, consider the following:
Whether you’re traveling for business or heading out for some well-earned rest and retreat, Lincoln’s TravelConnect services are your all-star defense when you’re more than 100 miles from home. If a medical emergency, lost passport, or sudden evacuation calls an audible on your trip, you’ve got a seasoned support team ready to jump in 24/7. From arranging safe travel and emergency evacuations to legal consultations and even pet boarding, TravelConnect helps you stay ahead of the curve.
Enrolled in Life or AD&D insurance? You’re already on the roster. So go ahead and travel with confidence knowing you’re covered coast-to-coast and beyond.