Life Insurance - Voluntary Supplemental Insurance

Full-time employees may purchase additional life insurance coverage through UnumProvident Life Insurance Company. Supplemental life insurance may be purchased through payroll deductions for the employee and his/her spouse up to $500,000 each or five (5) times the employee’s annual salary, whichever is less.

Dependent children may be covered up to $10,000 per child. The amount of life insurance purchased on a spouse and/or dependent must be equivalent to or less than coverage purchased on the employee. The employee may purchase up to $150,000 of guaranteed coverage. A spouse is guaranteed coverage of $25,000.

If desired coverage is greater than $150,000 or $25,000 respectively, a medical questionnaire must be completed and UnumProvident must approve the coverage.

Applications for coverage may be obtained in the Human Resources Office.

Monthly Premium Supplemental Life Rates

 Age Band

 Employee Rate
per $10,000 coverage

  Spouse Rate
per $1000 coverage		 Child Rate
per $2,000 coverage 
       $ .73
 15-29  .80  1.10  
 30-34  .90  1.16  
 35-39  1.20  1.60  
 40-44  1.79  2.28  
 45-49  2.83  3.58  
 50-54  4.52  5.59  
 55-59  6.98  8.46  
 60-64  10.90  14.55  
 65-69  18.82  24.86  
 70-74  33.66  44.28  
 75+  65.79  88.69  

 

 

In effect February 13, 2007.
Vice President for Finance and Business Affairs.