Basic Life / AD&D Insurance
Life insurance protects your family or other beneficiaries in the event of your death while you are still actively employed with the company. Aquafinity pays for Basic Life and AD&D Coverage, offered through New York Life. If your death is due to a covered accident or injury, your Beneficiary will receive an additional amount through AD&D coverage.
NAMING YOUR BENEFICIARIES
Your beneficiaries are the people or institutions you name to receive your Life and AD&D benefits in the event of your death. It is important that you keep up-to-date beneficiary information on file with the Human Resources department.
Basic disability Insurance
Disability benefits can provide income replacement that protects you if you are temporarily disabled due to an accident or illness. Aquafinity pays for this coverage, offered through New York Life. If you experience a temporary disability. Please refer to your Ease portal for full plan details.
STD benefits pay 60% of your weekly pre-disability earnings up to $1,500 after a 14-day elimination period from the date of your illness or injury. Benefits continue for as long as you are disabled up to a maximum duration of 11 weeks.
The LTD monthly benefit pays 60% of your pre-disability earnings up to $5,000 maximum benefit per month after a 90-day elimination period. In most cases, LTD payments are provided during your disability up to NSSRA.
*Please note: Short Term Disability benefit are excluded in statutory states (CA, HI, NJ, NY, RI).
Voluntary life/AD&D insurance
If you feel you need additional life insurance above the company paid life insurance, you may purchase additional Life and AD&D insurance coverage for yourself and your dependents through New York Life. You pay for the cost of this coverage through payroll deductions. Cost is based on age and coverage level.
The amount of voluntary life insurance available for purchase in increments of $10,000 up to 5x times basic annual earning up to $250,000.
You will have a guaranteed issue of $100,000, no medical questions asked, only if you enroll during your initial eligibility period.
You can purchase voluntary life insurance for your spouse in increments of $5,000 up to $250,000 or 100% of employee election amount.
Spouse Guarantee Issue of $25,000. Amounts above the Guarantee Issue will require evidence of insurability.
You can purchase voluntary life insurance for your child(ren) as a flat amount follows:
Birth to 6 months: $500 or 6months to 26 years: $5,000 or $10,000.