[et_pb_text admin_label="Text - body" _builder_version="4.7.7" _module_preset="default" template_type="module"]<h3>Basic Coverage for You</h3>
<ul>
<li>Provided at no cost to you</li>
<li>2x your annual base pay up to $250,000 maximum</li>
<li>Coverage amount is reduced by 50% at age 70</li>
</ul>
<h3>Supplemental Coverage for You</h3>
<ul>
<li>You can purchase 1x to 5x your annual base pay</li>
<li>Some amounts require proof of good health</li>
<li><strong>Maximum:</strong> Your basic and supplemental associate life coverage added together cannot exceed $1 million for full-time associates and $500,000 for part-time associates</li>
</ul>
<h3>Spouse or Domestic Partner Life Insurance</h3>
<ul>
<li>Spouse or domestic partner life insurance will end when you reach age 74</li>
<li>Premiums are paid on an after-tax basis</li>
<li>You choose any amount in multiples of $10,000, up to the maximum of 50% of your own life insurance coverage (basic plus supplemental) or $100,000, whichever is less</li>
<li>Amounts over $30,000 require proof of good health</li>
</ul>
<h3>Child Life Insurance</h3>
<ul>
<li>You can purchase $10,000 per child in life insurance coverage for children between age 14 days and 26 years old, as long as your child is not a full-time Ingram associate</li>
<li>From 14 days to 6 months, the benefit is $500; after 6 months, the benefit increases to the full $10,000</li>
<li>You pay the same rate regardless of the number of children you are covering</li>
<li><strong>Note:</strong> If you and your spouse or domestic partner are both benefit-eligible associates, only one of you can cover a dependent child</li>
</ul>
<h3>Proof of Good Health</h3>
<p>Certain life insurance coverage amounts require you to provide proof of good health or Evidence of Insurability (EOI), which is a form that you (or your spouse or domestic partner) and your doctor(s) may need to complete that summarizes your current health status.</p>
<p>EOI is required for the following changes:</p>
<ul>
<li>As a new hire, supplemental life higher than $850,000, or a spouse or domestic partner life insurance higher than $30,000</li>
<li>During any life event</li>
<li>Until the insurance company approves your request, you receive the maximum coverage allowed without proof of good health</li>
</ul>
<h3>Life Insurance and Taxes</h3>
<ul>
<li>If your Ingram life insurance coverage (basic and supplemental combined) is greater than $50,000, the IRS requires that the “value” of coverage over $50,000 be considered taxable pay</li>
<li>The value is calculated according to an IRS table and will appear on the W-2 that the company prepares for you at the end of the year</li>
</ul>[/et_pb_text]