Life and AD&D Benefits
Basic 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 directly to you in the event you incur an injury as a result of a covered accident.
Life Benefit Amount |
$25,000 |
AD&D Benefit Amount |
100% of Life Benefit to a maximum of $25,000 |
Benefit Reduction Schedule |
Benefits reduce 35% at age 65 and an additional 15% at age 70 |
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 guarantee issue amounts. Employees must elect coverage in order to purchase spouse or child coverage.
Example for 34 year old employee enrolling in $100,000, with $50,000 spouse and $10,000 for dependents:
Employee Life Insurance Benefit: $100,000 / 10,000 = 10 x $0.43 ($0.31 Life +$0.12 AD&D) = $4.30 per paycheck for Employee Life
Spouse Life Insurance Benefit: $50,000 / 10,000 = 5 x $0.43 ($0.31 Life +$0.12 AD&D) = $2.15 per paycheck for Spouse Life
Children Life Benefit: $10,000 / 10,000 = 1 x $.49 ($0.37 + $0.12) = $.49 per paycheck for Dependent Life
Total per paycheck (weekly) for Life Insurance = $6.94
Life Benefit: ________ / $10,000 = _____ x ______ (age bracket life + AD&D) = _______
Rates will be calculated for you in Employee Navigator
Benefits |
Employee |
Spouse |
Child(ren) |
|---|---|---|---|
Life Benefit amount |
$10,000 to $500,000 in |
$5,000 to $150,000 |
$10,000, not to exceed |
AD&D Benefit amount |
100% of Life benefit to |
100% of Life Benefit |
100% of Life Benefit |
Dependent Age Limits |
Birth to age 26 (26 if full time student). |
Birth to age 26 (26 if full time student). |
Birth to age 26 (26 if full time student). |
Benefit reduction schedule |
Benefits reduce 35% at age 65 and an additional 15% at age 70 |
Benefits reduce 35% at age 65 and an additional 15% at age 70 |
Benefits reduce 35% at age 65 and an additional 15% at age 70 |
Age |
Monthly Rates Per $1,000 of Benefit |
|---|---|
<30 |
$0.127 |
30-34 |
$0.148 |
35-39 |
$0.196 |
40-44 |
$0.273 |
45-49 |
$0.427 |
50-54 |
$0.723 |
55-59 |
$1.043 |
60-64 |
$1.775 |
65-69 |
$4.223 |
70+ |
$7.752 |
Child |
$0.160 |
EE AD&D+Sp+Child |
$0.037 |