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Cost of Coverage, continued
VOLUNTARY LIFE
Age
Employee & Spouse
Monthly Rates*
0 – 29
$0.46
30-34
$0.47
35-39
$0.64
40-44
$1.01
45-49
$1.65
50-54
$2.68
55-59
$4.35
60-64
$5.38
65-69
$8.05
70-74
$15.87
75-79
$15.87
*Rate is per $10,000 of coverage
VOLUNTARY CHILD LIFE
Policy Amounts
Child Monthly Rates*
$2,500
$0.18
$5,000
$0.35
$7,500
$0.53
$10,000
$0.70
VOLUNTARY AD&D
Eligible
AD&D Monthly Rates*
Employee
$0.02
Employee + Family
$0.03
*Rate is per $1,000 of coverage
*Monthly contribution covers all children-not per child
Sample Voluntary Life Calculation Example:
30
year old employee
(1)
Elects $60,000 life insurance
(2)
$60,000 / $10,000 = 6
(3)
6 x $0.47 = $2.82 per month
Sample Spouse Voluntary Life Calculation
Example:
50 year old spouse elects 50% of employee
amount
(1)
$30,000 of insurance
(2)
$30,000 / $10,000 = 3
(3)
3 x $2.68 = $8.04 per month
Sample Voluntary AD&D Calculation Example:
Employee Voluntary AD&D
(1)
Elects $60,000 of coverage
(2)
$60,000 / $1,000 = 60
(3)
60 x $0.02 = $1.20 per month