Income Protection
Income Protection Programs
Basic Life and Accidental Death and Dismemberment (AD&D) Insurance: No Cost
- Hourly, Non-Exempt Employees: Covered for Annual Salary up to $150,000
- Salary, Exempt Employees: Covered for Twice (2x) Annual Salary up to $1.5 million
Supplemental Life Insurance
To increase your life insurance coverage, you can also enroll in supplemental life insurance through Lincoln Financial Group. Benefits overview:
- For yourself: Up to 6x your salary, in $10,000 increments, not to exceed $500,000.
- For your spouse/domestic partner: Up to your combined basic life and supplemental life coverage, in $5,000 increments, not to exceed $250,000.
- For children: age 25 and under: $2,500 increments, not exceed $10,000.
An Evidence of Insurability Application is required when electing any additional amount of supplemental life insurance over the guaranteed issue amount. Evidence of Insurability Application is not required when you are initially eligible for the following amounts:
- You: $250,000 (up to 6x your annual salary)
- Your spouse/registered domestic partner: $75,000
- Your child(ren) or your registered domestic partner’s child(ren): $10,000
Please note: These guarantee-issue amounts are only available when you are initially eligible for supplemental life insurance. They are not available during open enrollment.
Long-term
disability insurance: No Cost
If you’re unable to work because of a sickness or injury, long-term disability insurance helps protect your income while you recover at home. After you have been disabled for 12 months, you may qualify for a monthly benefit of 50% of your base pay up to $20,000 per month. This is an employer-sponsored benefit at no cost to you.
Also, you may purchase a low-cost “buy-up option” as a new employee or during our annual open enrollment for 60% of your base pay, up to $20,000 per month.
Long-term care insurance: Discounted Cost
Available to you, your spouse or for adult children, long-term care insurance is an optional benefit that offers financial protection in case you or a family member can no longer perform everyday activities, such as eating, bathing or dressing. This kind of care is usually not covered by medical or disability insurance, or by Medicare.
Coverage is provided through Unum. For more information, or to enroll, please visit CMC’s Caregiving Exchange.
- HR Service at x21919 (internal) or (555) 459-1919 (external), or
- Villane Ward Insurance Services (UNUM) at (559) 243-4440
- Apply through Employee Space or at www.cmcltc.com