Benefits At a Glance
Each employee has the option of selecting additional Group Life insurance in increments of $10,000 up to 5 times earnings or $500,000.
Includes an Accelerated Death Benefit which allows you to receive up to 75% in the event of diagnosis of a terminal illness.
In case of your permanent and total disability, your premiums are waived and coverage is continued to age 65, provided your disability commences prior to your age 60. If you become permanently and totally disabled at age 60 or thereafter, coverage will be continued for one year from your last day actively at work. To continue coverage under the Waiver of Premium provision, a claim form must be submitted to the insurance carrier within one year from your last day actively at work.
Plan Design
Amounts of Supplemental Life coverage will be:
- reduced to 65% of the pre-age 65 amount at age 65;
- further reduced to 40% of the pre-age 65 amount at age 70;
- further reduced to 25% of the pre-age 65 amount at age 75;
- further reduced to 10% of the pre-age 65 amount at age 80; and (see Evidence of Insurability)
Evidence of Insurability
Guarantee Issue coverage is available up to $200,000 (unless previously declined). Amounts of supplemental insurance over $200,000 are subject to evidence of insurability acceptable to the insurance carrier.
If applying after 31 days of original eligibility, any amount is subject to completion and approval of an evidence of insurability.
Rates
Below are the payroll deduction costs per $10,000 of coverage.
| Optional Employee Group Life – per $10,000 | ||
| Age | Weekly | Semi-monthly |
| Less than 30 | $.16 | $.35 |
| 30 to 34 | $.19 | $.40 |
| 35 to 39 | $.21 | $.45 |
| 40 to 44 | $.35 | $.75 |
| 45 to 49 | $.58 | $1.25 |
| 50 to 54 | $.92 | $2.00 |
| 55 to 59 | $1.45 | $3.15 |
| 60 to 64 | $2.33 | $5.05 |
| 65 to 69 | $4.29 | $9.30 |
| 70 to 74 | $9.00 | $19.50 |
| 75 to 79 | $11.59 | $25.10 |
| 80 to 84 | $18.67 | $40.45 |
| 85 to 99 | $29.38 | $63.65 |
Payroll deduction will be adjusted due to changes in age on the date of the event.
Benefit Summary
Class 1 – All Full Time Employees Summary
