Page 14 - 2017 FutureSteps
P. 14
2017 Future Steps
Life/AD&D
Basic Life and AD&D Voluntary Life Insurance
Insurance Since life insurance needs vary depending on your personal situation, it’s
W&T automatically provides group important to consider the expenses and income needs your dependents
term life and accidental death and would have if something happened to you. The beneit amounts you can
dismemberment (AD&D) coverage elect are described in the table below. A more detailed explanation of the
at no cost to you. Employees receive options you will have for the 2017 plan year can be found on the next
coverage equal to 1 times annual base page. If you have any questions regarding your options please reach out
salary, to a maximum of $300,000. to HR. Coverage begins on the irst of the month following date of hire.
Please note the beneit amount is
different than what was offered in Voluntary Term Life—MetLife
previous years. We encourage you to For yourself Increments of $50,000 to a maximum of
calculate your family’s life insurance $500,000 or 5 times your annual base salary,
needs, and supplement the insurance as whichever is less
needed. For your spouse Increments of $25,000 to a maximum of
$250,000 not to exceed 100% of your elected
amount
Your basic life beneit reduces as you For your children $100
get older. Your life beneits will reduce (under 15 days)
by 35% at age 70, and another 50% at For your children $1,000
age 75. For example: Someone making (15 days to 6 months of age)
$75,000 annually is eligible for $75,000 For your children $5,000 or $10,000
(6 months to 26 years of age)
of life insurance. The amount will reduce
to $49,000 at age 70, and to $38,000 Age Employee and Spouse Rate per $10,000 of
Coverage
at age 75. Coverage begins on your 0–24 $0.085
irst day of employment and is offered 25–29 $0.085
through MetLife. 30–34 $0.085
35–39 $0.0122
40–44 $0.202
45–49 $0.341
50–54 $0.564
55–59 $0.958
60–64 $1.162
65–69 $1.726
70 and above $3.284
Coverage Amount Child(ren) Rate*
$5,000 $0.81
$10,000 $1.62
* Regardless of number of children covered
14
Life/AD&D
Basic Life and AD&D Voluntary Life Insurance
Insurance Since life insurance needs vary depending on your personal situation, it’s
W&T automatically provides group important to consider the expenses and income needs your dependents
term life and accidental death and would have if something happened to you. The beneit amounts you can
dismemberment (AD&D) coverage elect are described in the table below. A more detailed explanation of the
at no cost to you. Employees receive options you will have for the 2017 plan year can be found on the next
coverage equal to 1 times annual base page. If you have any questions regarding your options please reach out
salary, to a maximum of $300,000. to HR. Coverage begins on the irst of the month following date of hire.
Please note the beneit amount is
different than what was offered in Voluntary Term Life—MetLife
previous years. We encourage you to For yourself Increments of $50,000 to a maximum of
calculate your family’s life insurance $500,000 or 5 times your annual base salary,
needs, and supplement the insurance as whichever is less
needed. For your spouse Increments of $25,000 to a maximum of
$250,000 not to exceed 100% of your elected
amount
Your basic life beneit reduces as you For your children $100
get older. Your life beneits will reduce (under 15 days)
by 35% at age 70, and another 50% at For your children $1,000
age 75. For example: Someone making (15 days to 6 months of age)
$75,000 annually is eligible for $75,000 For your children $5,000 or $10,000
(6 months to 26 years of age)
of life insurance. The amount will reduce
to $49,000 at age 70, and to $38,000 Age Employee and Spouse Rate per $10,000 of
Coverage
at age 75. Coverage begins on your 0–24 $0.085
irst day of employment and is offered 25–29 $0.085
through MetLife. 30–34 $0.085
35–39 $0.0122
40–44 $0.202
45–49 $0.341
50–54 $0.564
55–59 $0.958
60–64 $1.162
65–69 $1.726
70 and above $3.284
Coverage Amount Child(ren) Rate*
$5,000 $0.81
$10,000 $1.62
* Regardless of number of children covered
14
