Life & Death Insurance

Coverage: Voluntary Employee Life coverage is available in $10,000 increments up to $500,000 not to exceed 7 times your annual earnings.

Guarantee Issue: $200,000

FranklinCovey Voluntary Employee Life Elections:

• Employees who elect Voluntary Employee Life coverage when they are first eligible can elect up to the Guaranteed Issue (GI) amount without any Evidence of Insurability (EOI). If you elect more than $200,000 in coverage for yourself, you’ll need to provide Evidence of Insurability before the amount over the $200,000 GI becomes effective.
• For employees who did not elect Voluntary Employee Life coverage when they were first eligible for coverage or choose to elect additional coverage over the $200,000 GI amount in the subsequent calendar year, you will need to provide an EOI for whatever amount above the $200,000 GI becomes effective.
• Associates currently enrolled for Voluntary Employee Life Coverage may elect to increase the amount of insurance under Voluntary Employee Life coverage during an Annual Enrollment Period. Any amount that exceeds an increase of coverage of $10,000 requires EOI. Any employee that is a Late Entrant or has previously been declined coverage must provide medical evidence of insurability for any amount being elected.

Spouse coverage is available in $10,000 increments up to 100% of employee coverage; not to exceed $500,000. Note: This coverage amount cannot exceed 100% of your Voluntary Employee Life coverage amount.

Guarantee Issue $50,000

FranklinCovey Voluntary Spouse Life Elections:

• Employees who elect Voluntary Spouse Life coverage for their spouse/domestic partner when they are first eligible can elect up to the Guaranteed Issue (GI) amount without any Evidence of Insurability (EOI). If you elect more than $50,000 in coverage for your spouse/domestic partner, you’ll need to provide Evidence of Insurability before the amount over the $50,000 GI becomes effective.
• For employees who did not elect Voluntary Spouse Life coverage for their spouse/domestic partner when they were first eligible for coverage or choose to elect additional coverage over the $50,000 GI amount in the subsequent calendar year, you will need to provide an EOI before whatever amount above the $50,000 GI becomes effective.

Child(ren) live birth to 26 years will have a flat amount of coverage at $10,000. Cannot exceed employee coverage.

Guarantee Issue (GI): A specific amount of life insurance coverage that an employee can obtain without having to provide Evidence of Insurability (EOI). This means the employee is automatically eligible for coverage up to the GI limit regardless of their health status or medical history, if they apply within the designated enrollment period. Typically, GI amounts are offered during:

• Initial enrollment periods when employees first become eligible for coverage.
• Certain qualifying life events (e.g., marriage, birth of a child) that allow employees to add or increase coverage without EOI.

Evidence of Insurability (EOI): An application process by which an employee and/or spouse/domestic partner applying for voluntary life insurance coverage provides proof of their good health and insurability to the insurance company. The EOI process usually involves submitting a health questionnaire or medical information that allows the insurance company to assess the risk of insuring the employee. The insurer uses this information to decide whether to approve the coverage, deny it, or offer it with certain conditions or higher premiums. This EOI is typically required when an employee:

• Applies for coverage beyond the guaranteed issue amount (the amount offered without health questions)
• Applies for coverage after the initial enrollment period
• Requests to increase their existing coverage amount

Call Prudential if you have any questions or would like to check in on the status of your EOI application at 1-800-524-0542 or visit your member portal at www.prudential.com.