The Standard Life Insurance Company

Supplemental Life Insurance

What is Supplemental Life?
Supplemental Life is an affordable group term insurance product that allows you to easily protect you and your family. You choose how much life coverage you, your spouse, and your children need. Payments for the amounts you elect are made through easy payroll deductions. You are eligible for this coverage if you work at least 20 hours per week.

The Schedule of Benefits:
Employee
Choice of $10,000 to $300,000 in $10,000 increments, not to exceed five times annual Base Salary. Employee life insurance is convertible/portable. (See policy for eligibility requirements.)
Spouse
Choice of $10,000 to $300,000 in $10,000 increments.
Child(ren)
Choice of $2,500 or $5,000. The child coverage is from birth (10% of the full benefit for child(ren) under 6 months), to 19 years, or age 25 if full-time student. In order to obtain child coverage either the employee or spouse must enroll for Supplemental Life coverage.

Accelerated Death Benefit
If you become terminally ill prior to age 64, you may elect to receive 50% of your Life benefit under the contract. Contract specifications apply. Your Life Insurance will then be reduced by the amount of the benefit paid.

Guarantee Issue
Evidence of Insurability will be required for all Supplemental amounts:

1. in excess of $60,000 for employee, $10,000 for spouse.
2. for all late applicants.
3. all employees over age 60 will be limited to 50% of the Guarantee Issue amount limits above.

Evidence of Insurability Requirements
For amounts of up to $125,000 over guarantee issue an Eligibilty of Insurance form is required. An Attending Physician Statement is required only if there are questions.
For amounts in excess of $125,000 over guarantee issue, and Eligibility of Insurance form, Attending Physician's Stratement (if question), a Blood Test, and complete medical history are required (employee cost).

Reductions
Employee: 35% at age 65, 50% at age 70, 70% at age 75, *0% at age 80 terminates at retirement.
Child(ren): Teminates at earlier of age 19 (25 for full-time student) or when employee coverage terminates.

Conversion/Portability
If you leave your job, you can convert to a permanent policy of individual insurance, or continue group coverage at current rates.

Disability
If you become disabled prior to age 60, Standard Life will waive our premiums as long as you remain disabled, but not beyond age 65 as per contract specifications.