Multi Regional Insurance Cooperative #GFZ02020

BASIC GROUP TERM LIFE/AD&D

Any full-time, active employee working at least 20 hours per week is eligible for Basic Group Term Life and Accidental Death and Dismemberment (AD&D). Coverages are equal to the following:

Basic Life:

Class I: Region 2, 3, 7, 10, 11, 12, 13, 14, 15, 16 or 17 employees $ 15,000

Class II: Region 5 or 6 employees $ 25,000

Employer pays the entire cost of this coverage. Coverage reduces to 65% of the original amount at age 65 and further reduces to 50% of the original amount upon attainment of age 70.

OPTIONAL GROUP TERM LIFE (No AD&D)

Any full-time, active employee that is enrolled in the Basic plan is also eligible for Optional Term Life coverage. Premiums are paid through convenient payroll deduction.

Benefit Amounts: Increments of $15,000 to a maximum of $75,000, but not less than $1,000 prior to any applied reductions.

Monthly Cost: $0.11 per $1,000

In no event shall coverage of a dependent exceed 50% of the amount of insurance in force under the policy on the insured. Coverage reduces to 65% of the original amount upon attainment of age 65 and further reduces to 50% of the original amount upon attainment of age 70.

DEPENDENT GROUP TERM LIFE (No AD&D)

Dependent Group Term Life Insurance benefits are payable in the event of the death of an insured dependent at any time and from any cause. Dependent coverage options are as follows:

Option I : $1.33

Spouse - $ 5,000 Child (birth to 14 days) - $0 15 days to 6 months - $250 6 months to 25 - $1,000 or full-time students Option II : $2.67

Spouse - $10,000 Child (birth to 14 days) - $0 15 days to 6 months - $250 6 months to 25 - $2,000 or full-time students

This summary is for illustrative purposes only and does not constitute a contract. The full terms and conditions of the coverage you select will be contained in the policies provided to Multi-Regional Insurance Cooperative. If there is any discrepancy between this benefit description and the policy the terms of the policy will control.

VOLUNTARY GROUP TERM LIFE Any full-time, active employee, and their spouse, is eligible for Voluntary Life coverage. The employee benefit amount, combined with basic life insurance benefit, may not exceed seven times the employee’s annual salary. The amount of coverage elected for a dependent cannot exceed the employee’s benefit.

Guaranteed Issue: Employee $100,000* Spouses $50,000* Child - 6 months to 25 $5,000 or $10,000 or full-time students (unlimited) Rates per $1,000: Age Rate Under 30 $0.05 30 – 34 $0.08 35 – 39 $0.11 40 – 44 $0.16 45 – 49 $0.26 50 – 54 $0.40 55 – 59 $0.62 60 – 64 $0.91 65 – 69 $1.75

Dependent Child Monthly Rates: $5,000 benefit - $1.00 per family unit $10,000 benefit - $2.00 per family unit * Voluntary Term Life coverage reduces to 65% of the original amount upon attainment of age 70, further reduces to 45% upon attainment of age 75, further reduces to 30% upon attainment of age 80, and further reduces to 15% upon attainment of age 85. All reductions are based on the original amount of coverage. Spouse reductions are based on the spouse’s attained age on the policy anniversary date.

VOLUNTARY GROUP ACCIDENT INSURANCE Voluntary Group Accident Insurance offers complete 24-hour protection against accidents anywhere in the world, activities on or off the job, on business, pleasure, on vacation or at home. Employee Amounts of Coverage

Any full-time, active employee may select any amount of coverage from $25,000 to $500,000 in increments of $25,000. Amounts of coverage in excess of $150,000 are limited to 10 times annual salary.

Amounts of Coverage for Eligible Dependents

An eligible spouse will be insured for 50% of the sum on the insured employee and eligible children will be insured for 10% of the principle sum on the insured employee.

Monthly Cost: $.028 per $1,000

Your Basic Group Term and Optional Group Term Life coverage automatically includes:

Waiver of Premium: Your term life coverage may continue to age 65 at no cost to you if you become totally disabled prior to age 60, subject to the requirements of this benefit.

Accelerated Death Benefit: If you are diagnosed with a Terminal Condition which with reasonable medical certainty will result in your death within12 months, you may choose to accelerate up to 50% of your group term life insurance amount. This sum is limited to a maximum of $150,000 and a minimum of $7,500. The amount of the accelerated payment will reduce the death benefit payable under the term life coverage by the amount of the requested payment.

Conversion Privilege: Should you leave your employment with Multi Regional Insurance Cooperative, you may convert your term life coverage to an individual whole life insurance policy. The request to convert must be made within 31 days following termination of coverage.