2017 Life Rates

Employee Supplemental and/or Spouse Coverage:  Supplemental coverage for employee and spouse must be purchased in $10,000 increments. The chart reflects the cost per month for each unit of $10,000. 

 

The employee’s and/or spouse’s age as of last day of the previous month is used to compute coverage for the current calendar year.  Benefit amounts reduce to 65% at age 65; to 50% at age 70; to 30% at age 75. Reduction occurs the first of the month after birthday.  Coverage terminates at retirement unless you choose to port your supplemental coverage.  Under the portability option, coverage ends at age 70.  Upon retirement or separation, you may consider converting your basic life to a whole life policy.

 

Children Supplemental Life:  The cost includes coverage for all eligible children – it is not a per child rate.  $2,500 coverage is $.45/month, $5,000 is $.90/month, $7,500 is $1.35/month and $10,000 is $1.80/month. (Note: See explanation above on child less than 6 months of age.)

Age as of

Previous Month

Monthly

Rate

Per $10,000

Under 25

0.50

25-29

0.60

30-34

0.80

35-39

0.90

40-44

1.00

45-49

1.70

50-54

3.20

55-59

5.20

60-64

7.80

65-69

14.60

70+

24.00