BASIC LIFE AND AD&D INSURANCE
Administered by Lincoln Financial Group
Equity provides associates who work a minimum of 30 hours per week. Basic Life and Accidental Death & Dismemberment coverage through Guardian at no cost to the associate. Life insurance provides a monetary benefit to your beneficiary in the event of your death while you are employed at Equity. AD&D insurance is equal to your life insurance benefit amount and is payable to your beneficiary in the event of your death as a result of an accident and may also pay benefits in certain injury instances
You are automatically enrolled in the Company Paid Basic Life and Accidental Death & Dismemberment coverages. If you would like to make a change to your beneficiaries, please log on to the PayCom portal.
| BASIC LIFE AND AD&D COVERAGE | |
| Executive & Directors | 2 x salary up to $500,000 max |
| Other Exempt Associates | $100,000 |
| Non-Associates | $30,000 |
RESOURCES
SHORT-TERM DISABILITY INSURANCE
Equity Administrative Services, Inc. provides associates who work a minimum of 30 hours per week with short and long-term disability income benefits at no cost to the associate through Lincoln Financial Group. In the event that you experience a non-occupational injury or illness that requires time away from work, Equity will provide Weekly Disability Income. In the case of an accidental injury, coverage will begin the eighth day you miss work due to the injury. In the case of an illness, surgery or a specific physical condition, coverage begins on the eighth day. Lincoln Financial Group requires a doctor’s certification of any injury/illness covered under the policy.
| SHORT-TERM DISABILITY | |
| Benefits Begin | 8th day of an injury or 8th day of an illness |
| Benefits Payable | Twice per month* |
| Benefit Amount | 70% of weekly earnings |
| Benefit Maximum | $1,350 per week |
| Maximum Benefit Period | 13 weeks |
*Lump sum given for maternity leave.
Associates already receiving Worker’s Compensation Benefits are not eligible for short/long-term disability.
RESOURCES
LONG-TERM DISABILITY INSURANCE
The Long-Term Disability (LTD) plan through Lincoln Financial Group will continue to be offered at no cost to the associate. The LTD plan provides additional continuation of income protection if you are unable to work at the completion of your short-term disability leave. Coverage generally begins 90 days following the initial date of disability. Any Social Security disability benefits and other income an associate may receive will offset Long-Term Disability benefits. Lincoln Financial Group requires proof of earnings and continued disability.
| LONG-TERM DISABILITY | |
| Benefits Begin | 90 days following your disability |
| Benefits Payable | Monthly |
| Benefit Amount | 60% of monthly salary |
| Benefit Maximum | $6,000 per month |
| Maximum Benefit Period | To age 65 |
Associates already receiving Worker’s Compensation Benefits are not eligible for short/long-term disability.
RESOURCES
Email Katie Plush ([email protected]) or Vicki Barone ([email protected]) if you have any questions about the benefits or online enrollment process.
