Voluntary Insurance Premiums

Premiums are paid through post-tax payroll deductions.

VOLUNTARY LIFE INSURANCE
RATES/$1,000 (BIWEEKLY)
AGE (AS OF 1/1/2016) EMPLOYEE AND SPOUSE
Under 29$0.037
30-34$0.053
35-39$0.064
40-44$0.069
45-49$0.101
50-54$0.154
55-59$0.287
60-64$0.435
65-69$0.812
70+$1.486
VOLUNTARY AD&D INSURANCE
PREMIUM RATES - $1,000 (BIWEEKLY)
Employee Only$0.024
Employee and Family$0.037
VOLUNTARY CHILD LIFE INSURANCE
PREMIUM RATES – $1,000 (BIWEEKLY)
$1.038
CALCULATE VOLUNTARY LIFE COVERAGE COST
Example: $500,000 coverage, $0.060 premium rate per $1,000 (biweekly)
Benefit Elected
$500,000
(divide by 1,000) ÷ 1,000
500
(multiply) x
Age-based Rate (BIWEEKLY)$0.060
Premium (BIWEEKLY)$30