Voluntary Life Insurance
In addition to the basic life insurance plan, you are eligible to purchase additional amounts of
individual term life insurance and accidental death and dismemberment (AD&D) coverage for
yourself, your spouse or domestic partner and your children. Should you leave the company, your
life coverage is portable if you apply within 31 days of your termination date.
Employee Voluntary Life and AD&D Coverage
- May purchase additional coverage in increments of $10,000
- Maximum coverage—up to 5 times your annual base salary (maximum $500,000)
- Guaranteed issue for new hires/newly eligible employees is $200,000
- Request to add coverage subject to completion and approval of evidence of insurability form if election not made when first eligible for coverage or if electing above the guaranteed issue amount
Age reduction benefit amounts:
- Age 70 65%
- Age 75 45%
- Age 80 30%
- Age 85+ 15%
Spouse Voluntary Life and AD&D Coverage
- Available when employee enrolls in Voluntary Life and AD&D Coverage
- Coverage available for spouse/domestic partner in $10,000 increments with maximum of 100% of employee’s elected amount.
- Guaranteed issue for new hires/newly eligible employees is $30,000
- Request to add coverage subject to completion and approval of evidence of insurability form if election not made when first eligible for coverage or if electing above the guaranteed issue amount.
Age reduction benefit amounts:
- Age 70 65%
- Age 75 45%
- Age 80 30%
- Age 85+ 15%
Child Voluntary Life and AD&D Coverage
- Available when the employee enrolls in the Voluntary Life and AD&D Coverage
- Coverage amount of $10,000 or $20,000 available per eligible child
- Guaranteed issue $20,000
- Eligible until the child’s 26th birthday
Age limited benefit amounts:
- Birth – 13 days $500
- 14 days – 6 months $2,000
- 6 months – 26 years $10,000 or $20,000 based on elected amount
| Employee and Spouse Rates | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Age | <29 | 30-34 | 35-39 | 40-44 | 45-49 | 50-54 | 55-59 | 60-64 | 65-69 | 70-74 | 75+ |
| Monthly Cost per $10,000 | $0.93 | $0.97 | $1.36 | $2.12 | $3.40 | $5.44 | $8.50 | $12.32 | $18.78 | $30.85 | $32.44 |
Monthly Cost per $10,000 $2.30
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