MMC Benefits Handbook
Enrollment
The Long Term Disability Bonus Income Plan year starts January 1st and ends December 31st. As a newly eligible participant, you can enroll in the Long Term Disability Bonus Income Plan during the Annual Enrollment period (normally in October of each year). After the first Annual Enrollment period you are eligible to participate in the Plan, you can enroll or increase your coverage in the Plan at any time with Evidence of Insurability.
As a newly eligible participant, you can:
  • enroll in an applicable coverage option during the Plan's Annual Enrollment period without going through Evidence of Insurability
  • take no action to enroll in Plan during Annual Enrollment (waive coverage)
  • enroll in an applicable coverage option during the plan year with Evidence of Insurability.
As a currently eligible participant with waived coverage, you can:
  • enroll in an applicable coverage option during the Plan's Annual Enrollment period with Evidence of Insurability
  • take no action to enroll in the Plan during Annual Enrollment
  • enroll in an applicable coverage option during the plan year with Evidence of Insurability.
As a participant enrolled in the Plan, your participation will automatically carry over from one year to the next at the new plan year cost, if applicable. During Annual Enrollment and throughout the year, you can:
  • increase your coverage option with Evidence of Insurability
  • decrease your coverage
  • take no further action
  • discontinue (waive coverage) your coverage.
Coverage begins January 1 if you elect coverage when you are first eligible and if you are already enrolled in the Optional Long Term Disability Plan. If you are not already enrolled in the Optional Long Term Disability Plan, your LTD Bonus Income Plan coverage is not effective until your Evidence of Insurability approval is provided by the Claims Administrator for Optional Long Term Disability.
If you enroll during the year, coverage begins on the date your Evidence of Insurability application is approved under the Long Term Disability Bonus Income Plan and you are already enrolled in the Optional Long Term Disability Plan.
Note
If you are employed by any entity in Bermuda and elect coverage when you are first eligible, coverage begins January 1. If you enroll during the year, coverage begins on the date your Evidence of Insurability application is approved under the Long Term Disability Bonus Income Plan.
How do I enroll?
You can enroll in the Plan during the Annual Enrollment period (normally in October of each year). Coverage begins January 1 if you elect coverage during Annual Enrollment when you are first eligible and you are already enrolled in the Optional Long Term Disability Plan*.
* If you are employed by any entity in Bermuda, the Optional Long Term Disability Plan is not available and you are not required to be enrolled in the Optional Long Term Disability Plan to enroll in the Long Term Disability Bonus Income Plan. Coverage begins January 1 if you elect coverage during Annual Enrollment when you are first eligible.
Do I have to provide Evidence of Insurability to get coverage from the Long Term Disability Bonus Income Plan?
If you enroll in the timeframe specified when you are first eligible, Evidence of Insurability is not required.
If you do not enroll in the timeframe specified when you are first eligible, Evidence of Insurability is required.
Do I have to re-enroll for coverage each year?
You do not need to re-enroll for coverage each year. After your initial enrollment, your coverage will continue as long as you remain eligible, unless you end your coverage.
Can I increase the amount of my Long Term Disability Bonus Income Plan coverage option percentage?
You can increase the amount of your coverage option percentage from 50% to 100% (subject to the covered benefit amount maximum of $300,000) at any time during the year subject to Evidence of Insurability.
Can I decrease the amount of my Long Term Disability Bonus Income Plan coverage option percentage?
You can decrease your coverage option percentage from 100% to 50% (subject to the $50,000 minimum) or waive coverage at any time during the year.