Life Insurance | Intact Insurance Specialty Solutions Benefits

LIFE INSURANCE

Voya

Life Insurance

Intact provides basic life insurance and you may purchase optional life insurance for yourself and your dependents. Life insurance coverage is provided by Voya Financial.

The Basic Life Insurance benefit of one times your salary (to a maximum of $500,000) is provided to you by Intact.

Optional Life Insurance can be purchased in multiples of your salary, from one time to six times your salary. Optional life insurance rates are determined by your age and tobacco use status. When you log in to your Benefitfocus account you can review the costs for each available level of coverage and may also estimate your cost with thes rate tables below.

Life insurance benefits are provided based on your base pay as of October 1. If your pay increases during the year, your life insurance coverage is not adjusted until the following year. Intact uses smoker and non-smoker rates for life insurance. By indicating that you are a non-smoker during enrollment you certify that you have not used a tobacco product (cigarettes, cigars, pipes, and chewing tobacco) in the last 12 months.

Dependent Life Insurance is also available through Voya Financial. You may purchase $25,000, $50,000 or $100,000 of coverage for your spouse, and $5,000, $10,000 or $15,000 for child(ren) up to age 26.

You may elect up to the guaranteed issue amount as a new hire without going through the Evidence of Insurability process.

Depending on the amount of optional life insurance coverage you choose, you may need to provide satisfactory Evidence of Insurability.

What Happens to Your Life Coverage at Certain Ages - Age Reduction

If you remain an active employee and have Optional Life Insurance coverage at age 65, the original amount of your coverage is reduced, based on the following chart:

From Your:	Percentage of Your Original Benefit Amount Payable:
65th birthday to age 70	65%
70th birthday and thereafter	50%

Important Note: Employees earning more than $50,000 have imputed income on the value of the employer-provided life insurance. That means that in each biweekly pay, an amount equal to the value of the benefit in excess of $50K will be added. This will appear on your biweekly paycheck as Group Term Life. You will then be taxed on this amount.

Optional Life Insurance Rates

To estimate your costs:

[Amount of Coverage (1 - 6 times salary)/1,000 x rate] / 26 = Biweekly cost

*The definition of a smoker is the use of tobacco products within the past 12 months (cigars, cigarettes, pipes, chewing tobacco)
Rates - Supplemental Employee Life
Age Band	Optional Life Insurance Rates per $1,000 coverage	Optional Life Insurance Rates per $1,000 coverage
	Smoker*	Non-Smoker
Less than 25	$0.528	$0.432
25-29	$0.612	$0.54
30-34	$0.876	$0.696
35-39	$0.948	$0.78
40-44	$1.044	$0.876
45-49	$1.74	$1.38
50-54	$2.76	$2.34
55-59	$5.16	$4.26
60-64	$6.864	$5.724
65-69	$13.20	$11.04
70+	$21.36	$17.88

*The definition of a smoker is the use of tobacco products within the past 12 months (cigars, cigarettes, pipes, chewing tobacco)
Rates - Spouse Life
Age Band	Optional Life Insurance Rates per $1,000 coverage	Optional Life Insurance Rates per $1,000 coverage
	Smoker*	Non-Smoker
Less than 25	$0.648	$0.528
25-29	$0.744	$0.636
30-34	$1.056	$0.852
35-39	$1.176	$0.96
40-44	$1.272	$1.056
45-49	$2.124	$1.704
50-54	$3.612	$2.868
55-59	$7.008	$5.208
60-64	$8.40	$6.996
65-69	$16.128	$13.476
70+	$26.208	$21.864

Child(ren) Life
Volume	Annual Premium
$5,000	$8.64
$10,000	$17.28
$15,000	$25.92

Intact Insurance Specialty Solutions is the marketing brand for the insurance company subsidiaries of Intact Insurance Group USA LLC. Coverages may be underwritten by one of the following insurance companies: Atlantic Specialty Insurance Company, a New York insurer; Homeland Insurance Company of New York, a New York insurer; Homeland Insurance Company of Delaware, a Delaware insurer; OBI America Insurance Company, a Pennsylvania insurer; OBI National Insurance Company, a Pennsylvania insurer; or The Guarantee Company of North America USA, a Michigan insurer. Each of these insurers maintains its principal place of business at 605 Highway 169 N, Plymouth, MN 55441, except The Guarantee Company of North America USA, which is located at One Towne Square, Southfield, MI 48076. This material is intended as a general description of certain types of insurance coverages and services. Coverages and availability vary by state; exclusions and deductibles may apply. Please refer to your insurance policy or consult with your independent insurance advisor for information about coverages, terms and conditions. Some coverage may be written by a surplus lines insurer through a licensed surplus lines broker. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.