Life Insurance - SPFPA
Your Basic Life Insurance
The Company provides basic life insurance coverage
of $29,500 at no cost to you. Your basic benefit doubles in
the event of your accidental death.
|
Basic Life Insurance Coverage
|
Accidental
Death Benefit
|
|
$29,500
|
$59,000
|
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
deduction. (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 for 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 family 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.
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