BASIC LIFE AND AD&D INSURANCE
AAPL provides all benefit eligible employees with Basic Life and AD&D insurance, at no cost to the employee!
Basic Life and AD&D
Benefit Amount
$50,000
At age 65: reduced by 35% At age 70: reduced by 50% At age 75: reduced by 65%
Age Reduction Schedule
AD&D
Included – equal to Basic Life amount
VOLUNTARY LIFE AND AD&D INSURANCE
AAPL offers all employees the opportunity to purchase Voluntary Life and AD&D Insurance.
Voluntary Life and AD&D
Employee Benefit Amount
Increments of $10,000 up to a maximum of $300,000
Guaranteed Issue Amount
$100,000
Spouse Benefit Amount
Increments of $5,000 up to $150,000
Guaranteed Issue Amount
$20,000
Child Benefit Amount
$10,000
Accidental Death & Dismemberment (AD&D)
Equal to Life benefit amount elected
At age 65: reduced by 35% At age 70: reduced by 50% At age 75: reduced by 65%
Age Reduction Schedule
Monthly Cost per $1,000 (includes cost of AD&D)
COST CALCULATION:
Age
Employee/Spouse*
Child(ren)
_____________________ Benefit Amount
<29
$0.09
$0.22
30 – 34
$0.10
/ 1,000
35 – 39
$0.11
X ____________________ Monthly Rate (from chart)
40 – 44
$0.15
45 – 49
$0.20
= ____________________ Approximate monthly cost
50 – 54
$0.33
X12
55 – 59
$0.54
60 – 64
$0.72
/ 26 =____________________ Approximate bi-weekly Cost
64 – 69
$1.27
70 – 74
$2.74
*Spouse’s cost of coverage is based on the employee’s age
75+
$10.31
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