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Supplemental Life and LTD Rates

2019 Lincoln Financial Supplemental Life and LTD Rates

Supplemental life insurance rates are updated for 2019 below. Spouse rates mirror employee rates.  There are limitations to the amount of coverage allowed for dependents, outlined to the right. All rates for this coverage are 100% employee paid.

Guaranteed Issue

Guaranteed Issue is the term used to indicate no medical underwriting is necessary for coverage. In 2019, you can elect up to three times your annual salary to a maximum of $600,000 with guaranteed issue.  Under the new dependent coverage, children’s insurance is always guaranteed issue to $10,000, though subject to the limitations outlined below. Spouse coverage is guaranteed issue to the first $30,000. Any coverage requested above that amount (within the limitations described below) requires medical underwriting. Additions to employee coverage will always require medical underwriting. Human Resources has forms available to initiate that process should you decide to increase your coverage.

Voluntary Life Insurance

Premiums are post-tax and 100% employee funded.  Rates are based on your age on January 1st of the current year. If you have a tier change during the calendar year, it will go into affect on January 1st of the next year.  Monthly Rates are based on units of $1,000. Accidental death and dismemberment coverage (doubles your benefit in the event of loss due to accident) is included in the rates below.

Under Age 25 $.048

Age 25 – 29 $.051

Age 30 - 34 $.048

Age 35 - 39 $.067

Age 40 - 44 $.096

Age 45 - 49 $.143

Age 50 - 54 $.219

Age 55 - 59 $.397

Age 60 - 64 $.569

Age 65 - 69 $1.131

Age 70 and over $1.958

A change in rates due to a change in the Employee's age will become effective on the first of the year following the Employee's birthday.

SPOUSE BENEFITS - Voluntary Life Insurance

Monthly Rates are based on units of $1,000 and mirror employee rates above (based on spouse's age). Coverage is available in $5,000 increments to a maximum of $300,000.  Spouse election can only be made if the employee elects supplemental life and up to a maximum of half of the employee elected supplemental life insurance.

A change in rates due to a change in the Spouse's age will become effective on the first of the year following the Spouse's birthday.

FOR DEPENDENT CHILD BENEFITS

Voluntary Life Insurance $.20 Per $1,000  Coverage available in increments of $2,000 to $10,000 until age 26.  Infants under 6 months of age can only be insured to $500.

2019 Long-term Disability Rates

For employees under age 65 the premium for long term disability insurance coverage is $0.30 per $100 of your biweekly or monthly base salary.

For employees over age 65 the premium for long term disability insurance coverage is $0.161 per $100 of your bi-weekly or monthly base salary.

 
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