GFS provides employees and their family with Basic Life and AD&D insurance.
This benefit is effective the first of the month following 30 days of full-time employment.
Life and AD&D insurance coverage is based on your annual eligible compensation to a maximum of $450,000.
Employees have the option to purchase additional Life and AD&D insurance through UNUM. Rates are based on your age and tobacco usage.
You must enroll in Employee supplemental life in order to enroll in either Spouse or Dependent supplemental life.
Evidence of Insurability (EOI) is submitted in Workday and reviewed for approval by UNUM Life Insurance Company.
After 90 days of continuous full-time employment, you will be eligible to receive Short-Term Disability (STD) pay if you become disabled due to a non-work related illness or injury. The plan pays 100% of eligible wages for the first two weeks following the waiting period of an approved STD leave; then the plan pays 60% of eligible wages, for a maximum period of 26 weeks from your date of disability. Employees pay the full premium on an after-tax basis making monthly LTD payments tax-free.
STD is paid by GFS through payroll continuation and subject to regular taxes and deductions.
Employees have the option to purchase Long-Term Disability (LTD) coverage through UNUM Life Insurance Company. LTD provides disability coverage past the 26 week STD period. LTD provides disability coverage past the 180 day STD period. LTD pays 60% of your eligible monthly wages up to $10,000 per month. Employees pay the full premium on an after-tax basis making your monthly LTD payments tax-free.
Protect your income in the event of a long-term disability and enroll during your initial enrollment period! During your initial election period (30 days), your LTD enrollment is not subject to Evidence of Insurability (EOI). If you do not enroll during your initial election period, you can request Voluntary LTD during annual open enrollment subject to EOI.
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