Supplemental Life Insurance Premium Information
Additional Employee Life Insurance:
|
Coverage
|
Rate
|
|
Supplemental Term Life for Employee
Premium is per $1,000 of Coverage
Ex: $30,000 of coverage for employee 30 years of age:
$30,000 x $.08 = $2400
Since premium is per thousand = $2400/1000 = $2.40 per month
or $1.20 per paycheck (24 payperiods).
|
Age Range
|
Premium
|
|
Under 30
|
$ . 06
|
|
30 - 34
|
$ .08
|
|
35 - 39
|
$ .09
|
|
40 - 44
|
$ .12
|
|
45 - 49
|
$ .20
|
|
50 - 54
|
$ .34
|
|
55 - 59
|
$ .51
|
|
60 - 64
|
$ .69
|
|
65 - 69
|
$1.27
|
|
70 or more
|
$2.06
|
Spousal and Dependent
Life Insurance:
|
Coverage
|
Rate
|
|
Supplemental Term Life for the Spouse*
Premium is per $1,000 of Coverage
Ex: $30,000 of coverage for employee 30 years of age:
$30,000 x $.08 = $2400
Since premium is per thousand = $2400/1000 = $2.40 per month
or $1.20 per paycheck (24 payperiods).
|
Age Range
|
Premium
|
|
Under 30
|
$ . 06
|
|
30 - 34
|
$ .08
|
|
35 - 39
|
$ .09
|
|
40 - 44
|
$ .12
|
|
45 - 49
|
$ .20
|
|
50 - 54
|
$ .34
|
|
55 - 59
|
$ .51
|
|
60 - 64
|
$ .69
|
|
65 - 69
|
$1.27
|
|
70 or more
|
$2.06
|
Dependent life insurance
is available at a level of $4,000 for dependents aged two weeks
to 19 years of age. Children less than 14 days of age and/or those in
full-time active military service are not eligible. Premium is a family
rated monthly premium regardless of the number of eligible dependents
covered. 2004 family rate is $ .60 per month.
* Employee must purchase 1x supplemental insurance in order to purchase
spousal and/or dependent life insurance.
|
