Basic Li fe Insurance Gua rd i an 1-888-600-1600 www.guard i anany t ime. com
Phillips & Jordan provides you with Basic Life and Accidental Death & Dismemberment (AD&D) insurance at no cost through Guardian. All full-time hourly and salaried employees receive: • $50,000 of coverage for yourself, • $10,000 of coverage for your spouse, and • $2,000 of coverage for child(ren) ages 6 months to 26 years, or $1,000 of coverage for child(ren) live birth to 6 months. You will need a beneficiary for this policy. Contact Human Resources to update your beneficiaries anytime during the year. Salaried Employees Buy-Up Option Salaried employees may increase their Basic Life and AD&D coverage up to three times their annual salary (up to $300,000). Additional coverage premiums are based on your annual salary and only costs between $2.00 and $5.15 per week! Phillips & Jordan pays 65% of the cost, and you only pay 35% of the additional coverage amount.
Supplemental Li fe Insurance Gua rd i an 1-888-600-1600 www.guard i anany t ime. com
Employee and Spouse Rates - Monthly Cost per $1,000 of Coverage Age Rate <30 $0.08 30-34 $0.09 35-39 $0.13 40-44 $0.21 45-49 $0.35 50-54 $0.62 55-59 $1.02 60-64 $1.36 65-69 $2.12 70+ See Plan Details Dependent Children $0.08 per $1,000
In addition to the Basic Life insurance provided by Phillips & Jordan, you have the option to purchase Supplemental Life/AD&D insurance through Guardian. You may purchase: • Employee coverage in increments of $20,000 up to a maximum of $500,000. Newly hired employees may purchase the first $200,000 without Evidence of Insurability. • Spousal coverage may be purchased in increments of $1,000 up to $100,000, but must not exceed 50% of the employee purchase amount. Newly hired employees may purchase the first $50,000 without Evidence of Insurability. • Child(ren) coverage • $500 of coverage on child(ren) age birth to 6 months.
Example of Voluntary Term Life Premium Calculations Age Monthly Rate Per $1,000 Benefit in $1,000’s Monthly Premium
Yours
36
$0.13 $0.09 $0.08
X 100 = $13.00 X 50 = $4.50 X 10 = $0.80
• $10,000 of coverage on child(ren) age 6 months to 26 years (if a full-time student). • The full amount is available without Evidence of Insurability.
Spouse 32
Child(ren)
Total
$18.30
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