Life Insurance
Optional Life Insurance Premiums
Effective May 1, 2007
The School Board provides you with 1 x your annual salary or a minimum of $20,000 life insurance. You may receive additional coverage by enrolling as follows:
OPTIONAL LIFE/EMPLOYEE:
| COVERAGE | YOUR COST PER MONTH |
|---|---|
| $ 10,000 | $ 2.10 |
| $ 20,000 | $ 4.20 |
| $ 30,000 | $ 6.30 |
| $ 40,000 | $ 8.40 |
| $ 50,000 | $10.50 |
| $ 60,000 | $12.60 |
| $ 70,000 | $14.70 |
| $ 80,000 | $16.80 |
| $ 90,000 | $18.90 |
| $100,000 | $21.00 |
Maximum benefit of life insurance (basic and additional combined) = the lesser of $150,000 or 3x annual salary. Evidence of insurability (EOI) is required for employees not enrolled for Optional Life and AD&D Insurance within 31 days of their eligibility date or who may want to increase their current benefit.
OPTIONAL LIFE/SPOUSE:
| COVERAGE | YOUR COST PER MONTH |
|---|---|
| $ 5,000 | $ 1.80 |
| $ 10,000 | $ 3.60 |
| $ 15,000 | $ 5.40 |
| $ 20,000 | $ 7.20 |
| $ 25,000 | $ 9.00 |
| $ 30,000 | $10.80 |
| $ 35,000 | $12.60 |
| $ 40,000 | $14.40 |
| $ 45,000 | $16.20 |
| $ 50,000 | $18.00 |
For all amounts over $25,000, Evidence of Insurability is required and the new benefit will not be effective until approved in writing by UNUM.
OPTIONAL LIFE/CHILDREN:
| COVERAGE | YOUR COST PER MONTH |
|---|---|
| $ 2,500 | $ .25 |
| $ 5,000 | $ .50 |
| $ 7,500 | $ .75 |
| $ 10,000 | $ 1.00 |
Revised 3/07
