Renovo’s Life and AD&D, Disability, and Voluntary Benefits are provided through The Hartford.
Protecting your family’s financial security in the event of your death or a serious injury is an important part of planning for the future. As a Renovo employee, you automatically receive $50,000 in Basic Life and AD&D coverage, at no cost to you.
In addition to your basic coverage, you have the option to purchase Supplemental Life and AD&D coverage for yourself, your spouse, and your child(ren). This additional coverage can help provide extra financial protection for your family. See the chart for available coverage amounts.
| Benefit Features | Supplemental Life and AD&D Options* | ||
|---|---|---|---|
| Employee | Spouse | Dependent Child(ren) | |
| Coverage Options | $10,000 increments | $5,000 increments | $250 (under 15 days) $1,000 (15 days – 26 years) |
| Maximum | Lesser of 5x salary or $750,000 | $150,000** (cannot exceed 50% of employee coverage) |
$10,000 |
| Guaranteed Issue Amount | $200,000 | $50,000 | |
| Guaranteed Issue Period | Within 30 days of benefits eligibility or a qualifying life event | ||
*Evidence of Insurability (EOI) may be required.
**Federal tax law requires Renovo Home Partners to report the cost of company-paid life insurance in excess of $50,000 as imputed income.
If an illness or injury keeps you from working, STD and LTD coverage help replace part of your income so you can focus on recovery instead of finances.
This Voluntary STD plan offers income protection if you need time away from work to recover from sickness or injury.
| Voluntary STD | |||
|---|---|---|---|
| Percent of Earnings | Weekly Maximum | Elimination Period | Maximum Duration |
| 60% | $2,000 | 14 days | 11 weeks |
You’re automatically enrolled in the Core LTD plan at no cost to you. If you’d like more protection, you can choose to add Buy‑Up LTD coverage for an additional premium. LTD benefits are coordinated with other income you may receive, such as Social Security or workers’ compensation.
| Core & Buy-Up LTD | |||
|---|---|---|---|
| Percent of Earnings | Monthly Maximum | Elimination Period | Maximum Duration |
| Core: 40% Buy-Up: +20% |
$10,000 | 90 days | Up to Social Security Normal Retirement Age |
Renovo provides BTA insurance at no cost through The Hartford. This coverage pays a benefit to you or your loved ones if you are accidentally killed or injured while traveling on company business, including local business travel.
The benefit amount depends on the type of injury. Certain exclusions apply.
Your BTA policy includes added protection for certain travel-related situations. These benefits provide extra financial support if a covered loss occurs during work-related travel.
Your BTA coverage also comes with supplemental benefits that offer additional support following a covered accident, including:
In the event of a life-threatening emergency, call the local emergency authorities first to receive immediate assistance, and then contact International Medical Group (IMG).
Policyholder Name: HomeRenew Buyers, Inc. (dba Renovo Home Partners)
Policy Plan #: 81-GTA-102407
Policy Effective Date: 1/1/2023
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