Coverage Types
- Basic (employer-paid) coverage - For full-time employees provides a lump sum death benefit in the amount of 1X your base annual earnings (flat $15,000 for part-time employees) at no cost to you payable to your designated beneficiary.
- Supplemental (employee-paid) coverage - Coverage is available in increments of $10,000 up to a max of 5X your base annual salary not to exceed $1,000,000. Rates are based on your age.
- Spouse/Domestic Partner (employee-paid) coverage is available in increments of $1,000 starting at a minimum of $5,000 and a maximum benefit of $50,000. Rates are based on your spouse or domestic partner's age.
- Dependent (employee-paid) coverage provides life insurance for your child(ren) under the age of 21 with no limits on the number of dependents covered. Rates are based on the dollar amount of coverage selected.
SUPPLEMENTAL COVERAGE - TEAM MEMBER ONLY
| AGE | Purchase in increments of $10,000 (rates per $1,000/month) |
|---|---|
| Up to age 30 | $0.04 |
| 30 – 34 | $0.05 |
| 35 – 39 | $0.07 |
| 40 – 44 | $0.12 |
| 45 – 49 | $0.21 |
| 50 – 54 | $0.35 |
| 55 – 59 | $0.55 |
| 60 – 64 | $0.85 |
| 65 – 69 | $1.53 |
| 70+ | $2.74 |
*Minimum of $10,000 – max of 5x basic annual earnings of $1,000,000 combined with basic benefit
SUPPLEMENTAL Spouse/Domestic Partner Coverage
| AGE | Purchase in increments of $1,000 (rates per $1,000/month) |
|---|---|
| Up to age 25 | $0.055 |
| 25 - 29 | $0.063 |
| 30 - 34 | $0.084 |
| 35 - 39 | $0.095 |
| 40 - 44 | $0.103 |
| 45 - 49 | $0.175 |
| 50 - 54 | $0.261 |
| 55 - 59 | $0.501 |
| 60 - 64 | $0.805 |
| 65 - 69 | $1.610 |
| Over 70 | $2.605 |
*Minimum of $5,000 – max of $50,000
DEPENDENT COVERAGE
| CHOICE OF: |
|---|
| $5,000 $0.05 per pay period |
| $10,000 $0.10 per pay period |
| $15,000 $0.15 per pay period |
*Unlimited number of dependent children. Only available through age 21