Life and AD&D Coverage Levels
Eligibility
New hires can enroll up to the guaranteed issue amounts listed in the chart below. Any amount beyond the guaranteed issue amount requires Evidence of Insurability (EOI).
At Open Enrollment, employees may make certain increases annually without EOI up to the amounts below. No Statement of Health Required.
Voluntary Term Life Insurance For Purchase
Annual Open Enrollment Increase
Guaranteed Issue (New Hires Only)
Minimum
Maximum
You
$10,000
$200,000
$20,000
$500,000
Spouse
$5,000
$40,000
$10,000
$100,000
Child(ren)
$5,000
All Amounts
$5,000
$20,000
Voluntary Term Life Monthly Rates Per $1,000
Age 1
Employee
Spouse
29 & Under
$0.08
$0.08
30-34
$0.09
$0.09
35-39
$0.14
$0.14
40-44
$0.21
$0.21
45-49
$0.33
$0.33
50-54
$0.54
$0.54
55-59
$0.87
$0.87
60-64
$1.32
$1.32
65-69
$2.25
$2.25
70 & Over
$4.05
$4.05
1 Age band changes are applied on the date of VPP’s policy anniversary (7/1). 2 The spouse is charged based upon his/her individual age on the policy anniversary. 3 Your spouse cannot elect life insurance if you, the employee, choose not to. 4 Benefits begin to reduce at age 65.
Additional Life Benefits
✓ Accelerated benefits if you become terminally ill (Tax consequences may result. Eligibility for public assistance may be affected. Consult your tax advisor.) ✓ Waiver of premium if you become disabled ✓ Ability to take your coverage with you, if you leave your company ✓ Accidental Death & Dismemberment coverage
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