As a new employee you may purchase voluntary life insurance up to $100,000 for yourself and $10,000 for your spouse without going through medical underwriting (guaranteed issue). Guarantee issue only applies to employees who sign up within the first thirty (30) days from hire date. You may sign up any date beyond the 30th day, however, you will be subject to medical underwriting.
Schedule of Insurance:
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Eligible employee can elect: |
Multiples of $10,000, from $10,000 to $500,000 |
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Spouse/Domestic Partner: |
Multiples of $10,000, from $10,000 to $500,000, not to exceed 100% of Member's elected amount. |
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Guarantee Issue Levels for Members: |
Member: |
$100,000 |
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Spouse/Domestic Partner and Children: |
Spouse: |
$10,000 |
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Enrolling within 30 days of eligibility: |
Dependent Child: |
Up to $10,000 |
Guarantee Issue Amount: The amount of coverage you can obtain with no medical questions or medical exams. Guarantee Issue only applies to employees who enroll within 31 days of becoming eligible for coverage. Medical Evidence will be required for late enrollees or to increase amounts of existing coverage.
Monthly Cost Per $10,000 of Benefit Amount for Members and Spouses Age Tobacco Free Tobacco Use
>30 $.78 $1.20
30-34 $.83 $1.28
35-39 $1.08 $1.69
40-44 $1.76 $2.73
45-49 $3.09 $4.64
50-54 $4.76 $7.15
55-59 $8.16 $11.82
60-64 $9.73 $14.09
65-69 $18.69 $26.16
70-74 $33.65 $45.42
75-79 $50.41 $65.53
80-89 $93.15 $116.43
90+ $235.26 $294.08
Child Life Insurance OptionsChild Benefit $2,000 $5,000 $10,000
Cost Per family unit per month $.18 $.45 $.90
Coverage is available for children from birth through age 20 or to age 25 if a full-time student.
Cost Summary Examples:
Monthly cost for a member, age 38 (tobacco free), purchasing $50,000 on self; $20,000 on Spouse (age 34, tobacco free); and $5,000 on Child (ren).Member = $50,000/10,000 = 5 X $1.08 = $5.40
Spouse* = $20,000*/10,000 = 2 X $.83 = $1.66
Child(ren)= $5,000 = $0.45
Total Monthly Payroll Deduction: = $7.51
*Amounts above $10,000 are subject to medical underwriting.