Supplemental Life Insurance
Associates may voluntarily choose 1 up to 7 times their annual earnings up to a maximum of $500,000.
Formula calculation (Associate + Spouse)
Life Benefit ÷ $1,000 = _____ x Rate = $ Monthly Cost
Associate’s Monthly Contributions per $1,000 of Associate Supplemental Life & Spouse Coverage
Resources
Dependent (Spouse and/or Children) Coverage
Associates may voluntarily elect dependent life insurance coverage provided associate’s supplemental coverage is elected.
Spouse Coverage Option
- Purchase $5,000 volume increments up to $100,000 maximum
- Eligible for the lesser of the maximum of $100,000 or 50% of the associate’s supplemental coverage
- Monthly cost is the same as the age based rates that an associate pays under the optional life (above)
- Coverage purchased on spouse in excess of $30,000 requires evidence of insurability
Dependent Child Coverage Options
- $5,000 = $0.25 per month
- $10,000 = $0.50 per month
- Eligible dependents include children up to age 26
Formula calculation (Children)
Life Benefit ÷ $1,000 = _____ x $0.05 = $ Monthly Cost
