Page 11 - 2015 BRP Benefits Guide
P. 11
2015 Annual Enrollment
Life Insurance
Basic Life Insurance Age Category Rate per $1,000 of
BRP provides, at no cost to you, basic life with accidental death and 18-24 Coverage
$0.06
dismemberment insurance. This coverage offers inancial protection to 25-29 $0.06
you if you suffer certain debilitating injuries or to your beneiciaries in 30-34 $0.07
$0.11
35-39
the event of your death. Your coverage amount is equal to $50,000 40-44 $0.20
for non-exempt employees and three times salary for exempt 45-49 $0.34
employees. 50-54 $0.53
55-59
$0.88
60-64 $1.29
Your life insurance beneit also includes accidental death and 65-69 $2.29
dismemberment beneits. If you should die in an accident, the plan will 70+ $3.54
pay an amount equal to your life insurance beneit. To determine the monthly premium
If you die while covered by this plan, the beneit is paid to the for voluntary life coverage, follow these
beneiciary (or beneiciaries) you designate on Plan Source, BRP’s simple steps:
online eligibility and enrollment system. 1. Determine the amount of insurance
you want to purchase
Voluntary Life Insurance 2. Using the table, determine the rate
If you would like to purchase supplementary life insurance in addition based on your age
to your company paid beneits, BRP offers you the ability to purchase 3. Use the formula following to
voluntary life insurance at competitive group rates. Voluntary Life calculate your monthly premium
Insurance can be purchased in increments of one to ive times your amount:
basic annual earnings to a maximum of the lesser of 5x your salary or
$500,000. Coverage Amount/1,000 x Rate =
Monthly Premium
Evidence of Insurability (EOI) or proof of good health is required
under the following stipulations: Example: 45 year old elects to purchase
$100,000 of voluntary life insurance.
z Late entrant: electing coverage for the irst time $100,000/1,000 X 0.34 = $34. The
z Current participant: requesting an increase to your current coverage amount of premium equals $34 per
z Newly eligible: requesting over $ $200,000 month.
Your individual premium rate will depend on your age; view the table In addition, beneits reduce to:
to determine how much this beneit will cost.
z 65% of your original beneit at
age 70
z 45% of your original beneit at
age 75
11
Life Insurance
Basic Life Insurance Age Category Rate per $1,000 of
BRP provides, at no cost to you, basic life with accidental death and 18-24 Coverage
$0.06
dismemberment insurance. This coverage offers inancial protection to 25-29 $0.06
you if you suffer certain debilitating injuries or to your beneiciaries in 30-34 $0.07
$0.11
35-39
the event of your death. Your coverage amount is equal to $50,000 40-44 $0.20
for non-exempt employees and three times salary for exempt 45-49 $0.34
employees. 50-54 $0.53
55-59
$0.88
60-64 $1.29
Your life insurance beneit also includes accidental death and 65-69 $2.29
dismemberment beneits. If you should die in an accident, the plan will 70+ $3.54
pay an amount equal to your life insurance beneit. To determine the monthly premium
If you die while covered by this plan, the beneit is paid to the for voluntary life coverage, follow these
beneiciary (or beneiciaries) you designate on Plan Source, BRP’s simple steps:
online eligibility and enrollment system. 1. Determine the amount of insurance
you want to purchase
Voluntary Life Insurance 2. Using the table, determine the rate
If you would like to purchase supplementary life insurance in addition based on your age
to your company paid beneits, BRP offers you the ability to purchase 3. Use the formula following to
voluntary life insurance at competitive group rates. Voluntary Life calculate your monthly premium
Insurance can be purchased in increments of one to ive times your amount:
basic annual earnings to a maximum of the lesser of 5x your salary or
$500,000. Coverage Amount/1,000 x Rate =
Monthly Premium
Evidence of Insurability (EOI) or proof of good health is required
under the following stipulations: Example: 45 year old elects to purchase
$100,000 of voluntary life insurance.
z Late entrant: electing coverage for the irst time $100,000/1,000 X 0.34 = $34. The
z Current participant: requesting an increase to your current coverage amount of premium equals $34 per
z Newly eligible: requesting over $ $200,000 month.
Your individual premium rate will depend on your age; view the table In addition, beneits reduce to:
to determine how much this beneit will cost.
z 65% of your original beneit at
age 70
z 45% of your original beneit at
age 75
11
