Life Insurance - UAW
Your Basic Life Insurance
The company provides you with basic life insurance
coverage at no cost to you. The amount of coverage is based
on your labor grade. The following table shows the basic coverage
amount for each classification along with the benefit - double
your basic coverage - in the event of your accidental death.
|
Labor Grade
|
Basic Life Insurance Coverage
|
Accidental Death Benefit
|
|
L
|
$30,500
|
$61,000
|
|
1
|
$29,500
|
$59,000
|
|
2
|
$28,500
|
$57,000
|
|
3
|
$27,500
|
$55,000
|
|
4
|
$26,500
|
$53,000
|
|
5
|
$25,500
|
$51,000
|
|
6
|
$24,500
|
$49,000
|
|
7
|
$23,500
|
$47,000
|
|
8
|
$22,500
|
$45,000
|
|
9
|
$21,500
|
$43,000
|
|
10
|
$21,500
|
$43,000
|
Optional Life Insurance
For Yourself:
In addition to basic life insurance, you may elect optional
life insurance for yourself in $5,000 increments, starting
at $5,000, with a maximum of $50,000. The table below shows
your cost, based on your age as of July 1 of each plan year
and the amount of coverage you select. (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 or increasing
your coverage.
Your
Weekly Cost for Optional Life Insurance
|
Weekly
Payroll Deduction for Each $5,000 Increment of Insurance
Based on Your Age
|
|
Age
|
Rate
per
$1,000
|
$5K
|
$10K
|
$15K
|
$20K
|
$25K
|
$30K
|
$35K
|
$40K
|
$45K
|
$50K
|
|
Under
30
|
.02
|
.10
|
.20
|
.30
|
.40
|
.50
|
.60
|
.70
|
.80
|
.90
|
1.00
|
|
30-39
|
.03
|
.15
|
.30
|
.45
|
.60
|
.75
|
.90
|
1.05
|
1.20
|
1.35
|
1.50
|
|
40-44
|
.06
|
.30
|
.60
|
.90
|
1.20
|
1.50
|
1.80
|
2.10
|
2.40
|
2.70
|
3.00
|
|
45-49
|
.10
|
.50
|
1.00
|
1.50
|
2.00
|
2.50
|
3.00
|
3.50
|
4.00
|
4.50
|
5.00
|
|
50-54
|
.17
|
.85
|
1.70
|
2.55
|
3.40
|
4.25
|
5.10
|
5.95
|
6.80
|
7.65
|
6.50
|
|
55-59
|
.25
|
1.25
|
2.50
|
3.75
|
5.00
|
6.25
|
7.50
|
8.75
|
10.00
|
11.25
|
12.50
|
|
60-64
|
.38
|
1.90
|
3.80
|
5.70
|
7.60
|
9.50
|
11.40
|
13.30
|
15.20
|
17.16
|
19.00
|
|
65-69
|
.56
|
2.80
|
5.60
|
8.40
|
11.20
|
14.90
|
16.80
|
19.60
|
22.40
|
25.20
|
28.00
|
|
70-74
|
.87
|
4.35
|
8.70
|
13.05
|
17.40
|
21.75
|
26.10
|
30.45
|
34.80
|
39.15
|
43.50
|
|
75+
|
1.37
|
6.85
|
13.70
|
20.55
|
27.40
|
34.25
|
41.10
|
47.95
|
54.80
|
61.65
|
68.50
|
Dependent Life Insurance
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 above 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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