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1)How do I enroll in the voluntary benefit program? You can contact the EOINationalEnrollmentCenter during the open enrollment period by calling 1-866-627-7509. EOI Benefit Counselors are salary-paid licensed enrollment representatives working withJacobsto review the newUniversal Life Insurance plan and to assist you with the enrollment process.
2)Who is eligible to enroll (who can I cover)? All benefit eligibleemployees may enroll. Coverage can be applied foremployees, spouses, children, and in some cases even grandchildren. Certain benefit limits may apply.
3)How long do I have to take advantage of the Qualified Issue Offer? This offer is available only during this initial open enrollment period. If you elect to enroll at a later date or if you elect a benefit above the Qualified Issue limit, Simplified Issue requirements will apply, a physical exam may be necessary.
4)How do I get the rates and how are they determined? Rates vary by plan and depend on age, smoking status and the amount of coverage being applied for. Rates can be found by calling the NationalEnrollmentCenter at 1-866-627-7509.
5)How are the premiums paid? Your premiums will be paid through the convenience of payroll deduction. Jacobs will deduct the premium from your paycheck and forward it to the insurance company.
6)Will the cost of my coverage change? The Universal Life Insurance costs do not change as you age but could change if you request a change to your coverage. Premiums continue at the same rate even if you leave Jacobs or retire.
7)If I enroll this year, when will my deductions begin coming out of my paycheck? Depending on the month you enroll, your deductions could begin within 2 months.
8)What happens after I enroll in a voluntary benefit plan? Your application will be submitted toReliaStar Life Insurance Company, a member of the ING family of companies for processing. If there is no additional information required to issue your policy, your policy will be issued and mailed to you within 6 to 8 weeks. If additional information is required, you will receive notification from ReliaStar regarding any outstanding information or requirements.
*The Qualified Issue Offer is available if you’re actively at work, if you haven’t been out sick or injured in the last 3 months and you haven’t tested positive for HIV/Aids/ARC. There are no other questions when you elect a benefit within the Qualified Issue limits of 2 times your salary up to a maximum of $150,000.
9)When can I make changes to my coverage and how do I do it? You can make changes (increases or decreases) to your coverage during a scheduled open enrollment period. Changes can be made by contacting the EOINationalEnrollmentCenter at 1-866-627-7509. Cancellations may be made at any time.
10)What happens if I leave Jacobs or become ineligible for benefits? The voluntary Universal Life Insurance plan is portable. You can continue your coverage by setting up a home billing arrangement with ReliaStar.
11)What happens if I miss a premium? You will receive a letter from ReliaStar advising you of a missed premium that needs to be remitted for your coverage to remain in force. In some instances, payroll deductions may also be adjusted to make up for the missed premium. If this is the case, you will receive notification of the new deduction amount, and when the adjustment will take place.
12)How do I file a claim on a policy? Claims can be filed directly with ING at 1-800-537-5024. This contact information will be included with your policy.
13)What do I do if I want to cancel my policy? You will need to complete, sign and submit a cancellation form. If you have more than one policy in force, it is important to indicate which policy(ies) you want cancelled. Cancellation forms are available by calling the ING Customer Service Department at1-800-537-5024.
14)If I cancel, when will my deduction stop coming out of my paycheck? In a “worst case” scenario, it can take up to 4 weeks for payroll deductions to stop. In most instances, however, you will have no more than one additional paycheck containing deductions once notification has been sent to your payroll department.
15)How soon will I be reimbursed premiums after I cancel my policy? If deductions do occur after you cancel your coverage, reimbursements will be issued once the premiums have been remitted toReliaStar. This can take up to 4 weeks and multiple checks could be issued.
16)What if I decide to enroll after the open enrollment ends? Can I still enroll? Employees have an opportunity to enroll every year during a specified annual open enrollment period. Employees who have become benefit eligible or were newly hired since the last open enrollment period will be given the opportunity to enroll during the next available open enrollment period under the Qualified Issue offer.
17)If I enrolled in the Universal Life program, will I receive any updates on my policy? Yes. ReliaStarwill mail you, the policyowner, an annual report which will show your policy activity, including premiums paid, the accumulated cash value, and any loan activity. This report is mailed each year about three months after the policy anniversary.
The Universal Life Insurance Plan is being offered by ReliaStar Life Insurance Company and ReliaStar LifeInsurance
Company of New York, members of the ING family of companies. Each insurer is solely responsiblefor the financial
obligations under the policies or contracts it issues.