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Life and Disability Insurance

Life Insurance

Bentley provides to full-time and part-time benefits eligible employees basic life and accidental death and dismemberment (AD&D) insurance coverage, both equal to one times annual base salary up to $500,000. Enrollment is automatic. Bentley pays the premiums, but employees are taxed on the value of life insurance greater than $50,000.

An employee may purchase supplemental life insurance coverage of up to 6 times base earnings to a maximum of $1 Million. Medical underwriting is required for amounts above the lesser of six times your salary and $500,000 and for coverage elected after your initial enrollment period.  

Also available for purchase is spouse / domestic partner dependent life insurance coverage from $10,000 to $100,000. Medical underwriting is required for amounts above $30,000 and for coverage elected after your initial enrollment period. Coverage for dependent children up to age 26 may be purchased in the flat amount of $10,000 per child. The cost is the same to cover one or more children. Employee and spouse coverage amounts are reduced to 50% at age 70.

For additional information on life/AD&D insurance:

Visit Lincoln Financial for more information

Long-Term Disability Insurance

Bentley provides long-term disability (LTD) coverage to full-time employees at 60% of annual base earnings up to $200,000, for a maximum monthly benefit of $10,000. Employees who have been unable to work for six consecutive months are eligible to apply for long-term disability benefits. Lincoln Financial, Bentley’s long-term disability carrier, determines whether an employee qualifies for long-term disability benefits and for how long. Enrollment is automatic. Bentley pays the premiums, but employees are taxed on the value of those premiums so that benefits are tax-free to the employee if collected. For additional information on LTD insurance:

Visit Lincoln Financial for more information

Individual Disability Insurance

Bentley provides additional long-term disability (LTD) coverage to employees at 60% of annual base earnings above $200,000, with a minimum monthly benefit of $500 up to a maximum monthly benefit of $5,000. An application to The Standard Insurance Company is required to issue the individual policy and will be provided upon hire or as of the July 1 you first become eligible.  Bentley pays the premiums, but employees are taxed on the value of those premiums so that benefits are tax-free to the employee if collected.  Upon termination you may continue this policy at your own expense.

Personal Accident and Critical Illness

Personal Accident insurance supplements your primary medical plan by providing cash benefits—paid directly to you—in cases of accidental injuries. Accidental injuries include things like fractures, concussions, cuts and ambulance services and cash benefits range by injury or service.  See summary for details.

You can use the money to pay for uncovered medical expenses, such as your deductible or coinsurance.

You can chose to cover yourself or your family.

Premiums are paid on a post-tax basis  

Accident Insurance Rates Individual Family
Employee Biweekly Contribution $2.32 $5.76
Employee Monthly Contribution $4.64 $11.52

Critical Illness provides a lump-sum benefit payment—paid directly to you—upon diagnosis of certain covered conditions.  Examples of covered conditions include cancer, heart attack and stroke.

You can chose either $10,000 or $20,000 of coverage and can cover yourself or your family.

You can use the money to cover out-of-pocket expenses for your treatment that are not covered by your medical plan or to take care of your everyday living expenses.

Critical illness premiums are based on your age as of 1/1/18 and are paid on a post-tax basis.

Critical Illness rates (per $1,000 of coverage) - Monthly Rates

Issue Age Individual Family
<25 $0.59 $0.96
25–29 $0.59 $0.96
30–34

$0.82

$1.31
35–39 $1.13 $1.79
40–44 $1.73 $2.70
45–49 $2.42 $3.74
50–54 $3.27 $5.02
55–59 $4.16 $6.37
60–64 $5.12 $7.83
65–69 $5.82 $8.88
70+ $6.99 $10.66

Documents

Personal Accident Plan Summary.pdf

Critical Illness Plan Summary.pdf

Critical Illness_FAQ.pdf

Personal Accident FAQ.pdf

Group Accident Insurance

Group Critical Illness Insurance