Supplemental Term Life Benefits
Provider: Lincoln Financial Group
Group Numbers: SINCLAIRBR
Customer Service Number: (888) 222-4550
Website: www.lincolnfinancial.com
Life insurance is an essential part of financial planning. If you own a home, own a car, have debt, have kids, or take care of other family members, you should seriously consider purchasing additional life insurance. Life insurance can also pay for funeral, burial, income, or estate taxes.
Click here for a life insurance needs calculator to help you make your decision.
Additional life insurance can be purchased for you and your family at low group rates.
- Premiums are deducted from your paycheck on a post-tax basis.
- Life insurance proceeds are not taxable.
- For children less than 6 months old, benefits may be subject to reductions.
| Benefit Overview | Employee | Spouse | Child(ren) |
|---|---|---|---|
| Supplemental life benefit | $50,000 increments | $25,000 increments | $10,000 |
| Does the supplemental life include AD&D? | Equal to life | Equal to life | Equal to life |
| What is the maximum amount? | $500,000 | $250,000 | $10,000 |
| Benefit contingency | Subject to the Terms of Guarantee Issue | Must purchase employee life in order to qualify for spouse life | Must purchase employee life in order to qualify for child(ren) life |
| What is the Guaranteed Issue amount? | $200,000 | $50,000 | $10,000 |
| Benefit Termination | Upon Retirement and/or Termination | N/A | N/A |
- This is an overview of benefits. Please review the plan documents or call Lincoln Financial Group for benefit details, limitations, exclusions, and verification of coverage.
- Evidence of Insurability (EOI) Requirements – If you select an amount in excess of the “Guarantee Issue” amount, you and/or your spouse must complete an Evidence of Insurability (EOI) form and submit to Lincoln Financial Group for underwriting approval.
- In the event of a claim, all benefits require validation by Sinclair and Lincoln Financial Group and may be subject to Evidence of Insurability documentation requirements.
- Exact benefit amount will be validated at time of claim based on salary and employment verification.
