Life Insurance - IBEW
Your Basic Life Insurance
The Company provides basic life insurance coverage
at no cost to you. Your coverage amount is based on your classification,
as shown in the following table. Your basic benefit doubles
in the event of your accidental death.
|
Life Insurance
|
Coverage
|
Accidental
Death
|
|
A Class and Lead (Basic)
|
$29,500
|
$59,000
|
|
B Class (Basic)
|
$22,500
|
$45,000
|
Optional Life Insurance
For Yourself:
In addition, you may purchase optional life insurance for
yourself of 1 to 2 times your annual base pay. Your cost for
optional coverage is age-rated; that is, your premium will
increase as you reach each 5-year increment of age shown in
the table below. If your exact pay rate is not on the chart,
find an amount close to yours to estimate your weekly payroll
(You use after-tax dollars for your contribution for the amount
of company-sponsored life insurance - basic life, plus optional
life - that exceeds $50,000.)
Evidence of Insurability is required if you are selecting
optional employee life insurance for the first time (after
you are first eligible) or increasing your coverage.
Your
Weekly Cost of Optional Life Insurance
(Based on Coverage of 1X Annual Pay) 1
|
Your
Age
|
Rate per
$1,000
|
Estimate
your cost by choosing an amount that most closely
matches your pay.
|
|
$20,000
|
$30,000
|
$40,000
|
$50,000
|
$60,000
|
$70,000
|
$80,000
|
|
Under
25
|
0.011
|
0.22
|
0.33
|
0.44
|
0.55
|
0.66
|
0.77
|
0.88
|
|
25-29
|
0.013
|
0.26
|
0.39
|
0.52
|
0.65
|
0.78
|
0.91
|
1.04
|
|
30-34
|
0.016
|
0.32
|
0.48
|
0.64
|
0.80
|
0.96
|
1.12
|
1.28
|
|
35-39
|
0.020
|
0.40
|
0.60
|
0.80
|
1.00
|
1.20
|
1.40
|
1.60
|
|
40-44
|
0.031
|
0.62
|
0.93
|
1.24
|
1.55
|
1.86
|
2.17
|
2.48
|
|
45-49
|
0.051
|
1.02
|
1.53
|
2.04
|
2.55
|
3.06
|
3.57
|
4.08
|
|
50-54
|
0.085
|
1.70
|
2.55
|
3.40
|
4.25
|
5.10
|
5.95
|
6.30
|
|
55-59
|
0.134
|
2.68
|
4.02
|
5.36
|
6.70
|
8.04
|
9.38
|
10.72
|
|
60-64
|
0.207
|
4.14
|
6.21
|
8.28
|
10.35
|
12.42
|
14.49
|
16.56
|
|
65-69
|
0.372
|
7.44
|
11.16
|
14.88
|
18.60
|
22.32
|
26.04
|
29.76
|
|
70+
|
0.665
|
13.30
|
19.95
|
26.60
|
33.25
|
39.90
|
46.55
|
53.20
|
1
Amounts are for 1X annual pay. For coverage of 2X annual pay,
double the weekly cost shown for the amount that most closely
matches your pay.
For your dependent(s):
You may enroll your eligible dependents for optional life
insurance at a cost of 48 cents per week, regardless of the
number of dependents covered. Coverage amounts are: Spouse,
$7,500; children age 6 months to 19 years (25, if full-time
student), $3,000 each; infant born alive, up to age 6 months,
$500. (You pay for dependent coverage with after-tax dollars.)
back to top
|
 |
