Administered by Guardian
Monthly costs can be found in the Guardian Enrollment Kits.
Employee Basic Life and Accidental Death & Dismemberment
Arhaus wants to help provide peace of mind & help your family be financially prepared if the worst were to happen. We provide Basic Life and Accidental Death & Dismemberment coverage at no cost to all Full-time Associates. Accidental Death & Dismemberment provides your family additional money in the event of accidental death. Coverage will be effective the 1st of the month following 30 days of employment.
Employee Basic Life Insurance coverage is $50,000.
The Term Life Insurance and Accidental Death & Dismemberment benefit reduces by 35% at age 65 and further reduces by 60% at age 70, 75% at age 75, 85% at age 80.
You are automatically enrolled for this coverage, but is very important to be sure your beneficiary designation is up to date. Beneficiary changes can be made in UltiPro.
Resources
Employee Supplemental Life and Accidental Death & Dismemberment
You may purchase Voluntary Term Life and Accidental Death & Dismemberment Insurance coverage for yourself & your covered dependents.
You can elect up to $500,000 on coverage for yourself, $250,000 on your spouse & $10,000 on your children. Beginning 4/1/23, employees are guaranteed $200,000 in coverage, $50,000 on Spousal coverage, and $10,000 on dependent children coverage, without any medical underwriting.
If you do not enroll in coverage for yourself or your dependents within 31 days of your first day of employment, you may enroll at a later date; however, coverage is medically underwritten & subject to proof of insurability.
To elect Voluntary Spousal or Child coverage, you must also elect Voluntary Employee coverage.
The Benefit Summary beginning on the next page is intended to give you a general understanding of the Voluntary Life insurance coverage available. Please contact Human Resources for more details regarding this plan.
Supplemental Life Insurance
| EMPLOYEE COVERAGE OPTIONS | |
| Coverage Election Options | $10,000 increments to a maximum of $500,000 |
| Guaranteed Issue Limit | Newly eligible employees can elect up to $200,000 on a guarantee issue basis. (Elections greater than $200,000 require Evidence of Insurability) |
| Age Reduction Schedule | 35% @ 65; 60% @ 70; 75% @ 75; 85% @ 80 |
| SPOUSE COVERAGE OPTIONS | |
| Coverage Election Options | $5,000 increments to a maximum of $250,000 |
| Guaranteed Issue Limit | You can elect up to $50,000 on a guarantee issue basis. (Elections greater than $50,000 are subject to Evidence of Insurability.) |
| Age Reduction Schedule | 35% @ 65; 60% @ 70; 75% @ 75; 85% @ 80 |
| CHILDREN COVERAGE OPTIONS | |
| Coverage Election Options | $1,000 increments to a maximum of $10,000. You may cover your unmarried dependent children from 14 days up to age 26 years. Subject to state limits. |
| Guaranteed Issue Limit | 10% of employee coverage to a maximum of $10,000 |
| Age Reduction Schedule | $10,000 |
