Employee Eligibility

To be eligible for coverage, an employee must satisfy all of the following requirements:

• be age 16 through 80.
• be on active service, performing in the usual manner all of the regular duties of his or her occupation at one of the places of business where he or she normally works or at some location directed by the employer; and
• be continuously employed for the amount of time and working the minimum number of hours per week as you require to be eligible for benefits. These requirements will be defined on the Life and Health Group Application and Agreement.

Spouse Eligibility

To be eligible for coverage, a spouse (or equivalent as defined by state law or otherwise agreed upon between you and us) must satisfy all of the following requirements:

• must be age 16 through 65.
• must be legally married to the employee as determined by the laws of the state in which the employee resides or meet the eligibility requirements required by the group to be benefit eligible.
• must not be disabled.
• must not be eligible as an employee under the group policy

You can enroll for up to $50,000 or $100,000 but no more than 5 times your annual salary.

• You can enroll your spouse for up to $15,000.

• Your premium is based on several factors including your age, any special features you select, and the amount of coverage you want. Also, you may be eligible for a premium discount if you do not use tobacco.
• To enroll, click the "Enroll Now" button.

In addition to the advantages that TransElite Universal Life has, this plan offers even more benefits:

• Group rates: These may be lower than you can get with individual policies.
• Portability: Unlike some other group life insurance programs, you can keep this coverage even after you leave Aramark.
• Guaranteed issue: If you enroll during pre-defined periods, such as when you start a new job, you can elect certain coverage amounts on a "guaranteed issue" basis by satisfactorily meeting eligibility requirements.
• Flexibility: Within certain limits, you can change the death benefit, the amount of premium, and payment frequency.
• Cash Accumulation Fund Element: Through Group Universal Life Insurance, you have the ability to contribute to a Cash Accumulation Fund which builds cash value with a guaranteed interest rate. Once cash value is built up, you can access the money whenever you want and for whatever you want. You can also take a loan against your accumulated cash value and continue to earn interest on the borrowed amount.
• Nonsmoker rates: Reduced rates are available if the insured has not smoked or used any form of tobacco for 12 consecutive months prior to the date you complete the enrollment form.
• Accelerated Death Benefit for Terminal Condition Rider:
  • Accelerates up to the lesser of $100,000 or 75% if a covered person is first diagnosed with a terminal condition which, in the best medical judgement, will result in death within 12 months.
  • When exercised, an administrative fee of $100 plus 12 months advanced interest will be deducted from the benefit payment. The death benefit and other contract values will be reduced accordingly and this rider will terminate.
• Waiver of Monthly Deductions for Layoff or Strike Rider:
  • Waives the monthly deductions for up to six months per year if the employee is involuntary laid off.
  • Benefits are limited to three layoffs per year and based on the employee’s layoff only.

If you do not enroll yourself and your eligible family members when first eligible or during a special enrollment period, you will be required to provide evidence of insurability.

If you enroll within 90 days from your initial eligibility date:

• You can get up to $100,000
• You can get up to $15,000 for your spouse

If a covered employee withdraws the cash value, tax consequences and/or surrender charges may apply.

Fluctuations in interest rates or policy changes may require the payment of additional premiums.

Individuals currently on disability or on premium waiver are not eligible for coverage.

During the first two years, the death benefit for suicide is limited to the return of premiums paid, less any loans, partial surrender amounts, and accelerated benefits paid, if any.

Accelerated Death Benefit for Terminal Condition Rider

We will not pay for any conditions diagnosed prior to the effective date of the rider.

Waiver of Monthly Deductions for Layoff or Strike Rider

We will waive deductions for:

• up to three layoffs or strikes in one 12-month period;
• for up to six months in any one 12-month period.

A 12-month period will be measured from the date the first month deduction is waived.

If the portability option provision of the contract is exercised, if any, the policy owner will need to provide proof of being employed (other than self-employment) for the 6 months prior to the layoff or strike.

The policy owner will need to provide proof of being employed (other than self-employment) for the 6 months prior to the layoff or strike.

This rider is not available for self-employed individuals.

The rider will terminate on the earliest of:

• the date the contract ends;
• the date the contract lapses, subject to grace period;
• the date the policy owner requests termination;
• the date the policy owner dies;
• the anniversary date on or after the insured reaches age 60;
• the date the policy owners assigns the contract to another individual; or
• the date a nonforfeiture option, if any, becomes effective.

Termination of Insurance

Coverage, including all riders, ends on the earliest of the following dates:

• the monthly contract date following the receipt of written request for surrender.
• the maturity date.
• the date of death.
• the date the contract ends, lapeses or becomes fully paid-up life insurance, subject to the grace period.
• the date a nonforfeiture option becomes effective.

Portability Option

If an employee loses eligibility for this insurance for any reason other than nonpayment of premiums, insurance can be continued by paying the premiums directly to us within 31 days after termination. We will bill the employee directly once we receive notification to continue insurance.

Everyone needs life insurance.

Contrary to popular belief, life insurance isn't just for parents. You need life insurance if anyone is financially dependent on you.

You've recently graduated from college.

You may have significant student loan obligations. If something were to happen to you, your loved ones would most likely be forced to shoulder that debt.

You're the parent of two small children.

You want to make sure they'll be able to keep the same lifestyle and attend college — even if you're not there to see it happen.

Your children are on their own.

But your children rely on you for support and help around the house. If you weren't there for them, your children would need extra money to pay someone to take care of things you've been managing for them.

Your spouse is depending on your income for retirement.

But you're not sure your retirement savings is enough to keep up with a rising cost of living if your paycheck stopped. Life insurance can be a smart way to fill the gap.

Like many families, you rely on two incomes to make ends meet.

You'll need life insurance on both you and your spouse. Even if your spouse stays at home, you should consider life insurance on your spouse to cover the cost of hiring someone to take care of the things your spouse generally handles.