Employee Benefits

Overview

Lincoln 401k

Section 125/129 Cafeteria Plan

Group Health Insurance

Life Insurance

Dental Insurance

Vision Insurance

Other Benefits

Alliance Programs

Online Benefit Enrollment

Life Insurance

Cardinal offers group Accidental Death and Dismemberment (AD&D) life insurance through Transamerica to all eligible employees. You are also able to obtain coverage up to five (5) times your annual salary with a cap of $300,000 with minimal health questions and no exam.

Dependent coverage is also available.  You may insure your spouse (must be legally married) in $5,000 increments, not to exceed $50,000 or 50% of your approved coverage.  Coverage for your dependent child(ren) may be selected in the following amount: $2,500, $5,000, $7,500 or $10,000.

Eligibility Requirements:

• 90 days of consecutive employment
• 30 hrs/wk hour requirement

Open Enrollment Date:

• NONE
• BUT, if you enroll after your eligibility date, you must complete all the medical questions and may be subject to a physical and even be denied coverage by the carrier.

Premium Costs:

The monthly premiums for each $1,000 of  coverage for employees and eligible spouses are shown below:

Child Coverage Monthly Rates

EXAMPLE:  How to calculate your monthly amount.  You are under 30 years old, are a non-smoker and elected $50,000 of coverage.  This means that for every $1,000 of coverage you will pay $0.13.  Calculation: 50 x 0.13 = $6.50 per month. (Some employers may sponsor part of the premium – Contact Cardinal to find out if you qualify).  Premium amounts for child(ren) coverage are $1.25 for each $5,000 of coverage.  (Benefit amounts are lower for child(ren) under 6 months of age.)

Employee Coverage

Your elected life insurance amount must be in $10,000 increments.  The elected amount may not exceed the lesser of $300,000 or five times your annual base salary (excluding bonuses or commissions.)  Your AD&D coverage will match the amount of your Group Term Life Insurance.

Under this plan, when a covered accident results in any of the following losses to you or your insured spouse, we will pay the following specified percentage of your Voluntary/Supplemental Group Term coverage.  Limitations and exclusions apply.

Spouse Coverage

Your spouse’s amount must be in $5,000 increments, not to exceed $50,000.  Spouse coverage may not exceed 50% of your approved coverage amount.  Your spouse’s AD&D coverage amount will match the amount of his or her Group Term Life Insurance.

Dependent Children Coverage

You may select $2,500, $5,000, $7,500 or $10,000 of life insurance for your eligible children.  If you are a resident of Puerto Rico, coverage on children may not exceed $2,000.  The benefit amount applicable to each child between the ages of 15 days and six months will be limited to 10% of the selected amount.  Coverage may not exceed 50% of your approved coverage amount.  One monthly insurance premium covers all of your dependent children.  AD&D coverage is not available on your dependent children.

Benefit Reduction Schedule

Coverage on any Insured (other than an insured dependent child) will be automatically reduced when that Insured reaches the age state below:

For more information about any of these benefits, customized programs, or to obtain enrollment forms, contact a Cardinal Advisor at 800.342.4742.  We would be happy to provide you a free consultation on whether or not our services are a fit for you business.