Life and AD&D Benefits
Basic Group Life and Accidental Death and Dismemberment (AD&D) coverage is a 100% employer-paid benefit, provided at no cost to you. The basic life benefit will be paid to your beneficiaries in the event of your death. The AD&D benefit will be paid in the event of an injury resulting from a covered accident.
Benefits |
|
|---|---|
Life Benefit |
$25,000 |
AD&D Benefit |
$25,000 |
Benefit Reduction |
Age 65 benefits reduce to 65% |
When your needs call for more than Basic Life and AD&D coverage, additional Voluntary Life and AD&D coverage is available for purchase for you, your spouse and your dependent children. Coverage purchased through this plan is offered at a group discounted rate with guaranteed issue amounts. Employees must elect coverage in order to purchase spouse or child coverage.
How to Calculate Your Per Paycheck Cost
1. Pick your desired amount and divide by $1,000.
2. Find the monthly rate per $1,000 based on age in the table to the right. Multiply this rate by your elected benefit units.
3. Multiply your monthly cost by 12.
4. Divide by 26. The result is your Per Paycheck cost.
If you are not currently enrolled in Voluntary Life and did not elect coverage when first eligible, health questions are required to enroll at any amount
Benefits |
|
|---|---|
Employee |
|
Benefit Maximum |
Up to $500,000 in $10,000 increments |
Guaranteed Issue |
$100,000 |
Spouse |
|
Benefit Maximum |
100% of Employee benefit, up to $250,000 in $5,000 increments |
Guaranteed Issue |
100% of Employee benefit, |
Child(ren) |
|
Benefit Maximum |
$10,000 in increments of $5,000 |
Guaranteed Issue |
$10,000 |
Monthly Cost by Age |
|||
|---|---|---|---|
Age |
Employee |
Spouse |
Child |
0-29 |
$0.094 |
$0.056 |
$0.200 |
30-34 |
$0.105 |
$0.077 |
|
35-39 |
$0.131 |
$0.088 |
|
40-44 |
$0.203 |
$0.129 |
|
45-49 |
$0.315 |
$0.196 |
|
50-54 |
$0.501 |
$0.305 |
|
55-59 |
$0.800 |
$0.580 |
|
60-64 |
$0.972 |
$1.155 |
|
65-69 |
$1.370 |
$2.095 |
|
70+ |
$3.637 |
$7.081 |
|
AD&D |
$0.060 |
$0.060 |
$0.030 |