LIFE AND DISABILITY
Basic Life and Accidental Death & Dismemberment (AD&D)
Administered by Equitable, the District provides Basic Life and Accidental Death & Dismemberment coverage to all eligible employees. This coverage is provided by the District at no cost to you. In the event of your death, your beneficiary will receive $50,000. The AD&D benefit is equal to your basic group life insurance in case of death.
Voluntary Life and Accidental Death & Dismemberment (AD&D)
Administered by Equitable, the District offers eligible employees the option to purchase voluntary life insurance for yourself, your spouse, and/or your dependent child(ren). Any amount in excess of the guaranteed issue limit requires completion of an Evidence of Insurability form. If voluntary life is not purchased when first eligible, an evidence of insurability form will need to be completed and coverage will not be effective until approved by Equitable. Coverage will go into effect once Equitable approves your application. Employees will have 30 days after election to file appropriate paperwork; otherwise the request will be dropped.
EMPLOYEE COVERAGE
Employees may elect coverage in increments of $10,000 up to the lesser of $500,000 or 5 times your salary. Guaranteed Issue amount is $200,000 without evidence of insurability.
SPOUSE COVERAGE
Spousal coverage is available in $5,000 increments not to exceed 50% of the employee amount up to a maximum of $200,000. Guaranteed issue amount is $25,000 without evidence of insurability.
FACTS & TIPS
CHILDREN
Sign up for this coverage when you are first hired and you will not have to answer any health questions and risk being turned down for coverage.
Coverage is available for your children up to age 26 whether they are a full - time student or not. You can elect coverage of $10,000. The amount you select is for each child you cover. The cost is based upon the family unit and not each child.
Guarantee issue does not apply to child coverage.
Monthly Voluntary Life Employee Rate Age Band Rate Per $1,000
Voluntary AD&D must match your elected Voluntary Life coverage. Example: if you elect $100,000 of Voluntary Life insurance, your elected Voluntary AD&D coverage must also be $100,000.
Under Age 30
$ .033
30 - 34
$ .038
35 - 39
$ .049
Monthly Voluntary AD&D Employee Rate
40 - 44
$ .073
Rate per $1,000 of Coverage
Rate Per $1,000
45 - 49
$ .115
Single
$.017
50 - 54
$ .180
Spouse
$.017
55 - 59
$ .275
Child(ren)
$.049
60 - 64
$ .388
Amount of coverage must match your elected Voluntary Life coverage.
65 - 69
$ .691
70+
$1.149
Child
$ .240
*The premium calculation is based upon the life and AD&D rate for an employee age 45.
$50,000 Elected Coverage
÷ 1,000 =
50
X
$.132 Rate
=
$ 6.60
HOW TO CALCULATE VOLUNTARY LIFE / AD&D PREMIUM
Units
Per Month
* See Note
17
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