Life & Voluntary Life
Life and accidental death and dismemberment (AD&D) insurance provides financial protection for those who depend on you for financial support. Upon your death, your designated beneficiary will receive the life benefit. If you die as the result of an accident, your beneficiary will receive both the life and AD&D benefits.
BASIC LIFE AND AD&D INSURANCE
Spooner provides employees who work 20 or
more hours/week with basic life and AD&D
insurance at no cost.
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Employee life insurance benefit:$30,000*
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Employee AD&D insurance benefit: $30,000*
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*Age-reduction rules apply. See plan details.
DESIGNATE A BENEFICIARY
In the event of your death, Lincoln Financial Group would pay your Life and/or AD&D policy to your beneficiaries. Designate your beneficiary for your Spooner-paid Life and AD&D insurance, as well as any additional life insurance. You may change this designation at any time. You are automatically the beneficiary on your Spouse and/or Child Life policy.
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EVIDENCE OF INSURABILITY
If you purchase Life and AD&D insurance for yourself or your spouse and/or children when you are first eligible to enroll, you may purchase up to the guarantee issue amounts without completing a statement of health (Evidence of Insurability). If you do not enroll when first eligible, and choose to enroll during a future open enrollment period, you will be required to submit Evidence of Insurability for any amount of coverage. Coverage will not take effect until approved by Lincoln Financial Group.
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ADDITIONAL LIFE AND AD&D INSURANCE
Depending on your personal situation, The Spooner-paid life and AD&D insurance might not be enough coverage for your needs. Spooner provides you the option to purchase additional life and AD&D insurance at group rates through Lincoln Financial Group. You may also purchase voluntary coverage for your spouse and eligible children.
SPOONER-PAID LIFE/AD&D COVERAGE
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This benefit is provided at NO COST to you through Lincoln Financial Group.
