Bi-Weekly Rates for Employee and Spouse Optional Life Insurance
Age on Jan. 1, 2021 Employee Rate per $1,000 Spouse Rate per $1,000 Less than 30 $0.0323 $0.0323 30-34 $0.0369 $0.0369 35-39 $0.0508 $0.0508 40-44 $0.0738 $0.0738 45-49 $0.1154 $0.1154 50-54 $0.1985 $0.1985 55-59 $0.3600 $0.3600 60-64 $0.5400 $0.5400 65-69 $1.0186 $1.0186 70+ $1.5877 $1.5877
Employee-Paid Optional, Spouse & Child Accidental Death & Dismemberment (AD&D)
You can elect additional AD&D coverage for yourself and your eligible dependents under the Optional AD&D Plan through Lincoln Financial Group. However, in order to elect coverage for your eligible dependents, you must elect additional coverage for yourself. Your coverage options, along with the plan features and rates, are summarized in the table below.
Feature
You
Your Spouse
Child(ren)
$5,000 increments up to $15,000 for children up to age 26 (election must be the same for all children)
$5,000 increments, not to exceed the lesser of 50% of your Basic and Optional AD&D coverage amounts combined or $250,000
1x-5x annual base salary, rounded to the next $1,000, up to $500,000
Coverage Amount
Evidence of Insurability (EOI) (Statement of Health)
Not required
Not required
Not required
Reduction Schedule
Ages 70-74: reduced to 65% Ages 75+: reduced to 50%
Ages 70-74: reduced to 65% Ages 75+: reduced to 50%
n/a
Coverage Rate (bi-weekly)
$0.0093 per $1,000
$0.0138 per $1,000
$0.0138 per $1,000
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