LM_SW_Benefits Guide 2024

Term and Optional Life and AD&D

Central National Gottesman Inc. provides all eligible full-time employees with comprehensive Term Life and AD&D Insurance, based on your earnings. The premiums for these plans are paid entirely by the Company. You may also supplement your Company Paid Term Life Insurance with Optional Term Life Insurance. You pay the cost of this optional coverage but receive the benefit of a group rate. In addition, you may elect Optional Term Life Insurance for your spouse and dependent children (covered to age 26, regardless of full-time student status). At age 70, your coverage will decrease to 65% of the benefit amount. TERM LIFE AND ACCIDENTAL DEATH & DISMEMBERMENT INSURANCE If you die during your employment, your designated beneficiary(ies) will receive a payment of one and a half times your salary with a maximum benefit of $150,000. If your death or dismemberment is the result of an accident, you or your beneficiaries may be eligible to receive additional benefits. OPTIONAL TERM LIFE INSURANCE Employee MUST elect Optional Term Life Insurance to be able to elect Spousal or Child Life Insurance. EMPLOYEE SPOUSE DEPENDENT CHILDREN

You can select life insurance coverage of 1, 2 or 3 times your salary rounded to the next higher $1,000. Maximum coverage for any employee is the lesser of 3 times your annual salary or $550,000. The cost of the coverage will be based on the employee’s age.

You can select up to 50% of your coverage amount for your spouse up to a maximum of $100,000. The cost of the coverage will be based on the employee’s age.

You may select coverage for your unmarried, dependent child(ren) - benefit amount is a flat $10,000

The guaranteed coverage amount for you is the lesser of 3 times your annual salary or $200,000.

The guaranteed spouse coverage amount is $20,000.

The guaranteed child(ren) coverage amount is $10,000.

OPEN ENROLLMENT Evidence of Insurability (EOI) is not required if you are electing coverage below the guaranteed coverage limit. For those requiring EOI, refer to the link in ADP to complete the electronic EOI form. Once you submit, Lincoln Financial will review and notify you of their decision.

Log into www.workforcenow.adp.com and click on Resources – Company Information – Tools/Resources – 2024 Benefit Documents for details. In the event of a discrepancy, the carrier Plan Document shall prevail.

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