Survivor Benefits - Life Insurance

Discussing what might happen to your family if you were not around to provide for them is never the easiest conversation, but it is necessary. Survivor benefits provide financial assistance in an absence and can help you plan for the unexpected. If you have life insurance, you can take comfort in knowing that those who depend on you will be provided for.

Basic Life and Accidental Death and Dismemberment (AD&D) Insurance

Life and AD&D benefits are essential to the financial security of you and your family. As such, it is important to understand how your plan works and what benefits you will receive.

Basic Life and AD&D benefits are provided to you as part of your basic coverage. MarineMax provides Team Members with Basic Life and AD&D insurance through Lincoln Financial Group which guarantees that loved ones, such as a spouse or other designated survivor(s), receive benefits upon your death.

Your Basic Life and AD&D insurance benefits is $50,000. If you are a full-time Team Member, you automatically receive Life and AD&D coverage even if you elect to waive other coverage.

A beneficiary is the person you designate to receive your Life insurance benefits in the event of your death. This includes any benefits payable under the Basic Life offered by MarineMax.

It is important that your beneficiary designation is clear so there is no question as to your intentions. It is also important that you name a primary and a contingent beneficiary. When naming your beneficiary(ies), please indicate their full name, address, social security number, relationship, date of birth and distribution percentage. If the beneficiary is not legally related, insert the words “not related” in the relationship field.

If you name more than one beneficiary with unequal shares, please show the amount of insurance to be paid to each beneficiary. See the chart below for example.

Primary Contingent

Mary Doe, Wife (50%)

Jane Doe, Daughter (25%)

John Doe, Son (25%)

John Doe, Son (50%)

Jane Doe, Daughter (50%) OR

Estate of the Insured (100%)

Eligible Team Members may also purchase Supplemental Life and AD&D for themselves and their families. Premiums are paid through post-tax deductions.

Voluntary Term Life — Paid by You:

Eligibility: Active, full-time Team Members of MarineMax regularly working a minimum of 30 hours per week.

Eligibility Waiting Period: You are eligible for benefits on the first of the month following 60 days of full-time employment.

Benefit Amount

Guaranteed Coverage Amount

Units of $10,000

$150,000

Team Member

Maximum Benefit Reduction Schedule

The lesser of 5 times salary or $500,000

Benefit Amount

Guaranteed Coverage Amount

Maximum

Units of 10,000 50,000

Benefits will reduce to 65% at age 65 and 50% at age 70 Spouse* (Up to Age 70)

50% of the Team Member’s Voluntary Life Insurance amount

Dependent Children** Maximum per Child Benefit Amount $10,000 Units of $2,000

*Spouse is eligible provided that you apply for, and are approved for coverage for yourself.

**Under age 19 (or under 25 if they are full-time students), as long as your apply for and are approved for coverage for yourself. Premium includes ALL eligible children.

How

View Basic Life and AD&D Benefit Summary on Jostle.

View Voluntary Life Insurance Benefit Summary on Jostle.