What Supplemental or Dependent Life Insurance coverage can I change during the special open enrollment period in February, and what is the “added guaranteed issue provision”?
During the special open enrollment period in February for changes effective March 01, 2010, you will be able to change your current levels of supplemental life and AD&D insurance and your dependent life insurance. This special open enrollment will provide all eligible employees (>/= 0.75 FTE), not just current participants, the opportunity to enroll coverage levels with an “added guaranteed issue provision”.This provision allows enrollment in increments of $10,000 up to $200,000 (or 5 times annual salary, whichever is less) with a guaranteed issue provision, meaning no Evidence of Insurability (EOI, or a medical questionnaire) is required for these amounts. Employees who wish to enroll in amounts elected greater than $200,000 up to the maximum of $500,000 will require an “Evidence of Insurability” (EOI) form to be completed and may require follow up medical tests or evaluation. This EOI determination will also apply to those employees who do not take advantage of this special enrollmen
