16 / 31
16
Life Insurance
To Fit Your Needs
Life insurance upon Initial
Employment
Employees may receive life and
AD&D insurance coverage for
themselves noted above without going
through the underwriting process. The
insurance becomes effective on the
first day of the month following your
initial hire date. Life insurance elected
after initial employment will require a
physician statement and must be
approved by Sun Life. Coverage and
deductions in payroll for coverage will
not be effective until coverage
approval by Sun Life.
Basic Life and Accidental Death & Dismemberment (AD&D) Insurance
All full-time position control/budgeted
employees may elect to purchase Basic
Term Life Insurance and AD&D in an
amount that equals either one times the
amount of base salary or one-half the
amount of base salary, with maximum
coverage up to $100,000. This
coverage is provided by Sun Life.
Basic Life and AD&D monthly rate per $1000
of coverage is $0.224.
Example:
Base salary $25,554
Election: ½ base salary
Coverage: $13,000
Monthly premium: $2.91
($13,000 divided by $1000 times $0.224)