2018 Aflac Incorporated Benefits Guide

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GROUP TERM L IFE INSURANCE
EL IGIBI L ITY:
All full- and part-time employees are eligible for basic and supplemental life insurance on the first day of employment.
Employees may also enroll legal spouses or registered domestic partners and eligible dependents.
Part-time employees must work at least 20 hours per week to be eligible for coverage.
YOU SHOULD KNOW:
➤➤Group term life insurance is provided by
Reliance Standard.
➤➤Aflac pays the premiums for employee basic life insurance
coverage. There is no cost to you.
➤➤You pay premiums for supplemental coverage for yourself
and for spouse or dependent life insurance.
Coverage
Employee Basic Life Insurance
Basic insurance coverage ➤
➤ Term life insurance equal to 1.5 times your annual base salary (as of each pay date), up
to a maximum of $500,000. Coverage is rounded up to the next whole $1,000.
➤
➤ The accelerated benefit option permits you to take an advance payment of up to 75 percent of
the coverage amount, up to a maximum of $500,000, when you have a terminal illness and an
expected life span of 12 months or less.
Reduced coverage at age
70 and older
➤ ➤ From age 70 through 74, coverage is reduced to 75 percent of your basic coverage amount
(1.125 times your annual base salary, up to the coverage maximum).
➤ ➤ At age 75 and older, coverage is reduced to 50 percent of the basic coverage amount (0.75
times your annual base salary, up to the coverage maximum).
Your cost There is no cost to you. Aflac covers 100 percent of the cost.
Employee Supplemental Life Insurance
Coverage options You may choose coverage levels of one to eight times your annual base salary (as of each pay
date), up to a maximum of $1,000,000. Coverage is rounded up to the next whole $1,000.
Reduced coverage at age
70 and older
➤
➤ From age 70 through 74, coverage is reduced to 75 percent of the supplemental coverage
amount in effect.
➤
➤ At age 75 and older, coverage is reduced to 50 percent of the supplemental coverage amount
that was in effect at age 70.
If you increase coverage
or begin coverage
➤ ➤ If you are currently enrolled in supplemental life insurance and you choose to:
• Increase your coverage by one level, you are not required to submit an Evidence
of Insurability form unless your coverage exceeds $500,000.
• Increase your coverage by more than one level, you must submit an Evidence of
Insurability form.
• If you are enrolling for the first time during open enrollment and are not a new hire,
you must submit an Evidence of Insurability form during the enrollment period for underwriting
purposes.
For an Evidence of Insurability form, go to .
Your cost You pay 100 percent of the cost at group rates.
NEWLY HIRED?
You aren’t required to complete the Evidence of Insurability form if you elect supplemental coverage when you first become
eligible, unless coverage exceeds $500,000 for employee or $50,000 for spouse.
How to Apply for
Aflac Coverage