Life & Disability Insurance

Basic Life Insurance - provided at no cost to you

SynaTek provides company-paid Group Term Life Insurance to help support your loved ones financially.

Benefit: 1x your base annual salary (rounded up to the next $1,000), up to $50,000
Age Reductions: Benefits reduce at age 65 and 70
Accelerated Death Benefit: Access up to 50% of your benefit if diagnosed with a terminal illness
Waiver of Premium: Coverage may continue if you become disabled (after a 6-month elimination period)
Conversion Option: Ability to convert coverage if eligibility changes

Accidental Death & Dismemberment (AD&D) - provided at no cost to you

AD&D coverage provides an additional benefit if death or serious injury occurs due to an accident.

Benefit: Equal to your Basic Life Insurance amount
24/7 Coverage for covered accidents
Includes additional protections such as:
- Seatbelt & airbag benefits
- Repatriation benefit
- Public transportation benefit

Voluntary Life Insurance
Additional Protection for You and Your Family

Voluntary Life Insurance allows you to purchase additional coverage beyond your basic benefit—giving your family extra financial security.

Employee Coverage

Coverage Amount: $10,000 to $500,000 (in $10,000 increments)
Guarantee Issue: Up to $30,000 without medical questions (if you enroll when first eligible)
Employee-Paid: You pay 100% of the premium through payroll deductions

Spouse & Child Coverage

Spouse Coverage:
- Up to $500,000 (not to exceed 50% of your elected amount)
- Guarantee Issue up to $30,000
Child Coverage:
- $5,000 or $10,000 (ages 6 months to 18, or 23 if a full-time student)
- Smaller amounts for newborns and infants

Important Notes

Coverage amounts above the guarantee issue may require medical approval
You must enroll within 31 days of eligibility to avoid medical underwriting
Benefits end at retirement

There are certain instances when you may need to complete an Evidence of Insurability form. For example, if you would like to elect coverage greater than the guaranteed issue amount, or if you would like to elect coverage after you are first eligible, please complete the Evidence of Insurability form. Follow directions on the form to complete and submit the form to Dearborn Group.