Life/Dependent Life/Supplemental Life – Life insurance coverage equal to your annual salary at no cost to you. You may elect to be insured for an amount of life insurance from $10,000 to $500,000, in increments of $10,000. In no event shall your amount of life insurance exceed 5 times your annual earnings, rounded to the next higher multiple of $1,000. Your Guarantee Issue Amount that is not subject to medical underwriting, is 5 times your annual earnings or $150,000, whichever is less. Premium is based upon age and salary. Dependent Life Coverage is $10,000 for spouse and $5,000 for each child. Completion of an Evidence of Insurability form is required for any employee who does not select voluntary life upon 1st eligibility and/or if an increase in volume is requested during open enrollment.
Voluntary Term Life