UL - 2023-24 Benefits Guide (FINAL 11.1.2023) SP

2023 Gerresheimer Salary Benefits Bulletin • 11

FINANCIAL SECURITY FOR YOUR FAMILY

2023 Life & Accident Insurance Administered by MetLife

Website: http:/www.metlife.com Phone: 1-800-638-5433

Basic Life and Accident Insurance are pro vided to you by the Company free of charge. You have the option to purchase additional coverage for both as well. In other words, the Company automatically pays the cost for a life insur ance benefit equal to 2 times your annual salary for you, as well as accident insurance in the amount of 75K. You may elect to be covered for more than these amounts. You may also elect coverage for your spouse and/or your eligible children. *excludes participants in the global accident program.

VOLUNTARY LIFE INSURANCE

EMPLOYEE VOLUNTARY LIFE PREMIUMS - PER $1,000 COVERAGE PER PAYCHECK AGE BAND 2023 PREMIUM Under 30 $0.064 30 – 34 $0.100 35 – 39 $0.128 40 – 44 $0.149 45 – 49 $0.227 50 – 54 $0.377 55 – 59 $0.675 60 – 64 $0.916 65 - 69 $1.449 70 and over $2.343

When you elect additional coverage, your premiums are NOT withheld on a pre-tax basis. That means, there is no need to have a qualifying family status event to make changes in these coverages. You are eligible to request a change at any time during the year. Since you are focused on benefits anyway during Open Enrollment, it may be a good time to ensure you have adequate coverage in these areas. Voluntary life insurance elected more than 31 days after hire requires that you be able to provide the insurance company with acceptable evidence of your insurability – that is, good health. Only when they approve new or additional coverage for you or your spouse will the coverage become effective. That requirement does not apply to cover age for your eligible children up to age 19 (to age 25 if a full-time student).

DEPENDENT LIFE INSURANCE OPTIONS Spouse Level of Coverage

$50,000* $20,000 $11,000

$8,000

Premium per pay

$5.00

$1.81

$1.07

$0.77

Child(ren) Level of Coverage

$15,000 $10,000

$9,000

$6,000

Premium per pay

$0.75

$0.48

$0.44

$0.29

* Cannot exceed employee’s total Company paid and voluntary coverage.

VOLUNTARY ACCIDENT INSURANCE

Accident insurance does NOT require that you prove your good health since accidents are typically unexpected. You may elect coverage up to the limits shown below on a single or family basis. When you elect family coverage, a percentage of the amount elected is payable when your eligible family member has a covered accident.

COVERAGE LEVEL ACCIDENT COVERAGE AMOUNT

WEEKLY COVERAGE COST

Single

$10,000 to $500,000 in $10,000 increments but not more than 10X your base annual salary Same as above – family covered for: 60% if spouse only, 15% each child if no spouse, or 50% spouse with 10% each child

$.175 per $10,000 (less than 90 cents for $50,000)

Family

$.225 per $10,000 (less than $1.15 for $50,000)