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 |
