Life can be unpredictable. FBM provides financial protection benefits to help support you and your family if something unexpected happens. These benefits help protect your income and provide financial assistance in the event of disability, serious injury, or loss of life.
Many of these benefits are provided automatically when you become eligible for benefits.
All benefits eligible FBM employees automatically receive up to $100,000 in Basic Life and AD&D insurance coverages at no cost to you.
| Benefit Features | Basic Life Insurance | ||
|---|---|---|---|
| Employee | Spouse | Dependent Child(ren) | |
| Covered Amount | $100,000 | $10,000 | $5,000 |
| Benefit Features | Basic AD&D Insurance |
|---|---|
| Employee | |
| Covered Amount | $100,000 |
Please note that there is an age reduction in effect for the Basic Life/AD&D benefits:
All benefit eligible employee spouses are also provided with up to $10,000 in Basic Life insurance. Dependent Children are covered up to $5,000 in Basic Life Insurance.
FBM allows you to purchase Voluntary Life and AD&D coverage of up to $500,000 for yourself, your spouse, and dependent children. You may purchase coverage in increments of $10,000. Please remember that if you elect coverage amounts of more than $50,000, you will be subject to the completion of an Evidence of Insurability (EOI) form from Manulife in order to see if you qualify for the elected coverage amount that you selected. Any amount elected below $50,000 during your New Hire Enrollment period will not be subject to the completion of an EOI form. Please see the chart below for more information.
| Benefit Features | Voluntary Life Insurance | |
|---|---|---|
| Employee | Spouse | |
| Coverage Options | $10,000 increments | $10,000 increments |
| Maximum Amount | $500,000 | $500,000 |
| Guaranteed Issue Amount | $50,000 | $50,000 |
| Guaranteed Issue Period | 31 days from benefit eligibility date | |
| Benefit Features | Voluntary AD&D Insurance | ||
|---|---|---|---|
| Employee | Spouse | Dependent Child(ren) | |
| Coverage Options | $10,000 increments |
50% of the employee elected amount if no children are covered 40% of the employee elected amount if children are covered |
20% of the employee elected amount if spouse is not covered 10% of the employee elected amount if spouse is covered |
| Maximum Amount | $500,000 | $250,000 | $50,000/child |
*Evidence of Insurability (EOI) may be required.
STD coverage provides income replacement if you are sick or injured and need time off work to recover. The STD benefit pays up to 65% of your normal weekly earnings up to a maximum of $1,500 per week. There is a 7-day waiting period for STD leaves related to sickness and no waiting period if the leave is due to an accident. The benefit is payable for up to a maximum of 15 weeks.
| Benefit Features | Short Term Disability (STD) |
|---|---|
| Benefit Amount | 65% of normal weekly earnings up to a maximum of $1,500 per week |
| Qualifying Period |
Accident – 0 calendar days Sickness – 7 calendar days |
| Maximum Benefit Period | 15 weeks |
If a disability continues beyond the short-term disability period, long-term disability benefits may provide ongoing income replacement.
Long-term disability benefits help provide financial stability while you focus on recovery and returning to work.
| Benefit Features | Long Term Disability (LTD) |
|---|---|
| Benefit Amount | 55% of normal monthly earnings up to a maximum of $5,500 per month |
| Qualifying Period | 15 weeks |
| Maximum Benefit Period | Up to age 65 |
To file a life or disability claim, call 877-481-9169 Monday–Friday, 8 a.m. to 8 p.m. ET (English) or 8 a.m. to 5 p.m. ET (French). You can also submit your claim by mail using the address listed directly on your claim form.
(877) 481-9169
