Life & Disability Insurance
We are committed to ensuring that you and your families have the protection and peace of mind you deserve. As part of our comprehensive benefits package, we provide life and disability insurance. Both life and disability insurance provide financial stability for you and your dependents, safeguarding against unforeseen events.
Basic Life and AD&D
Nothing is more important than family. That is why we want to make sure that your family is protected in every situation.
Alto Pharmacy provides all full-time employees with life insurance and accidental death & dismemberment insurance beginning on date of hire. Alto Pharmacy pays 100% of all enrollment costs.
You simply need to name the beneficiary of your choosing and change it as needed.
Voluntary Life and AD&D
If you want to purchase additional Life and AD&D coverage, we have the plan for you!
You can also cover your eligible spouse and child(ren).
Alto Pharmacy offers Voluntary Life and AD&D insurance for all full-time employees and this benefit is 100% employee paid. New York Life Group Benefit Solutions will provide you with up to $200,000 of coverage without proof of health!
- For You: You can purchase additional Life and AD&D coverage for yourself in increments of $10,000 up to a max of $500,000 or lesser 5x salary; $200,000 is Guarantee Issue.
- For Your Spouse: You can purchase additional Life and AD&D coverage for your spouse in increments of $5,000 up to a max of $250,000 – not to exceed 50% of the employee’s election; $25,000 is Guarantee Issue.
- For Your Child(ren): You can purchase additional Life and AD&D coverage for your child in flat amount of $1,000, $2,000, $4,000, $5,000, or $10,000 – all Guarantee Issue.
For late enrollees or coverage in amounts above the guaranteed issue limit, you will need to complete an Evidence of Insurability (EOI) form with additional health information to New York Life for review. EOI allows the insurance carrier to determine the risk in offering you additional coverage. In some cases, a physical exam or blood work may be required.
To complement your MetLife life insurance coverage, for those employees enrolled in the Voluntary AD&D benefit, you have access to Travel Assistance services, a useful program giving you and covered family members access to travel assistance professionals at AXA Assistance USA, Inc. when traveling within the U.S. or abroad. They have the expertise to help when you need emergency medical, travel and personal assistance. Please refer to the Travel Assistance flyer to the right for information.
Long-Term Disability
Long-term disability (LTD) insurance—protects you should you become disabled for a prolonged period prior to retirement. This is an extremely important benefit; in that it will provide disability income until your Social Security Normal Retirement Age in the case of a disability.
Short-Term Disability
Short-term disability (STD) insurance—helps you remain financially stable if you are temporarily disabled when you become injured or ill and cannot work for a short period of time, including maternity. This coverage allows you to receive weekly payments based on a set percentage of your income. When this STD coverage ends, long-term disability (LTD) coverage typically takes effect.
Disclaimer: This presentation is to provide a summary of Alto Pharmacy employee benefit programs. Should any discrepancy arise, please refer to actual plan documents which supersede this presentation. Once enrolled, you will receive a Combined Evidence of Coverage and Disclosure Form that explains the exclusions and limitations, as well as the full range of covered services of your plan, in detail.