VOLUNTARY LIFE INSURANCE
Bridging Freedom offers employees the option to purchase voluntary life insurance. This coverage is through Guardian. If you elect a benefit over the guarantee issue as a new hire, benefit outside of your newly eligible period, or an increase in your current benefit you will be required to proved evidence of insurability.
Plan Covers
Amount
Employee
$25,000, $50,000, $75,000, $100,000, $125,000, $150,000. $200,000
Under Age 65 No evidence of insurability up to max of $50,000
65+ Benefits will be reduced to 35% at age 65 and 60% at age 70
Spouse
$10,000, $20,000, $25,000
Under Age 65 No evidence of insurability up to max of $25,000
Children
$10,000
AD&D benefit equals the life amount. AD&D provides 24 hours coverage and a benefit in the event of loss of life, limb or eyesight as a direct result of an accident, provided the loss occurs within 365 days of the accident.
Life Rates (includes cost of AD&D) Per $1,000/Month
Age Employee / Spouse
Child
WHAT’S THE COST? See the below chart to locate your age bracket. The rates shown are per $1,000 of life benefit, simply find the bi-weekly cost for coverage using the calculation below.
17 & Under
$0.192
18-24
$ .097
25-29
$ .097
CHILD(RE) 30-34 $ .113
$
/ 1,000 = X
Step 1
Desired benefit
35-39
$ .161
40-44
$ .222
X x $
x 12 = $
Step 2
45-49
$ .326
Your age rate
Annual cost for coverage
50-54
$ .544
55-59
$ .860
60-64
$1.262
$
/ 26 = $
Step 3
65-69
$2.829
Annual cost for coverage
Approximate cost per paycheck
70-74
$5.009
75+
$5.009
7
Made with FlippingBook - professional solution for displaying marketing and sales documents online