|
|
|
|
Plan Description
ING Reliastar > Basic Life Plan
|
|
|
Note: This page contains a brief summary of coverage. It does not
state all provisions and limitations of the plan. The terms and provisions of
each plan, as outlined in the plan document, will determine coverage and
eligibility.
|
|
Base Plan Benefit
|
1 x Salary
|
|
Base Maximum Benefit
|
$300,000.00
|
|
Base Minimum Benefit
|
$10,000.00
|
|
Buy-up Benefit
|
1 x Salary
2 x Salary
3 x Salary
|
|
Buy-up Maximum Benefit
|
$500,000.00
|
|
Guarantee Issue
|
$300,000.00
|
|
Accelerated Benefit
|
Included: up to a max of $250,000 or 75% of the insured person's life coverage, whichever is less
|
|
Portability
|
Included
|
|
Airbag Benefit
|
Included
|
|
Seabelt Benefit
|
Included
|
Reduction of Benefits Schedule
Age Reduction percentages are Cumulative.
Age Reduction percentages are a percentage of the original benefit.
|
|
Years of Age
|
% Reduction
(of original benefit)
|
|
Reduction 1
|
65
|
35%
|
|
Reduction 2
|
70
|
40%
|
|
Reduction 3
|
75
|
35%
|
|
Reduction 4
|
80
|
30%
|
|
Reduction 5
|
85
|
25%
|
|
Reduction 6
|
90
|
10%
|
|
Other Examples
Waiting Period Information
Eligible employees are eligible as of the 1st of the month following the employee's hire date.
Termination of Coverage Information
When a plan participant is terminated from the company, the plan coverage ends on the last day of the month following the employee's termination date.
|
(per month)
Base Plan Rate: Employee contributes 5% per month.
Per $1,000 of benefit. (see rates below)
Age Band
Structure
|
Coverage Rates
|
|
Male
|
Female
|
|
Smoker
|
Non-Smoker
|
Smoker
|
Non-Smoker
|
|
0-14
|
$2
|
$2
|
$2
|
$2
|
|
15-19
|
$2
|
$2
|
$2
|
$2
|
|
20-24
|
$2
|
$2
|
$2
|
$2
|
|
21-29
|
$2
|
$2
|
$2
|
$2
|
|
30-34
|
$2
|
$2
|
$2
|
$2
|
|
35-39
|
$2
|
$2
|
$2
|
$2
|
|
40-44
|
$2
|
$2
|
$2
|
$2
|
|
45-49
|
$2
|
$2
|
$2
|
$2
|
|
50-54
|
$2
|
$2
|
$2
|
$2
|
|
55-59
|
$2
|
$2
|
$2
|
$2
|
|
60-64
|
$2
|
$2
|
$2
|
$2
|
|
65 and over
|
$2
|
$2
|
$2
|
$2
|
|
Other examples |
ING Reliastar
http://www.ing.com
Member Services
John Carpet
2301 John St. West
Chicago, IL 48226
(212) 225-5890
Fax 345-133-4433
|
|
