Page 14 - Impact XM 2023 Benefit Guide

Voluntary Life and AD&D

The following Voluntary Life Insurance protection is available:

• Voluntary Life Insurance
• Voluntary Accidental Death and DismembermentInsurance

What is Accident Insurance?
Accidental Death & Dismemberment (AD&D) – also called Accident Insurance – is similar to regular life
insurance. If you die in an accident, the amount of your AD&D coverage is paid to your beneficiary in addition
to your Group Term Life Insurance. However, accident insurance also pays a benefit if you are seriously injured
in an accident. Part of your benefit may be paid to you if you lose a limb or the ability to see.

Life Insurance Benefit
Employee – Increments of $10,000 to maximum of
Voluntary Life Insurance $500,000 or 5X salary (whichever is less)
Spouse – $5,000 to $50,000 or 100% of Employee coverage
Child - $5,000

AD&D Insurance Benefit
Employee – Equal to Voluntary Life Coverage
Voluntary AD&D Spouse – Equal to Voluntary Life Coverage
Child(ren) – Equal to Voluntary Life Coverage

Evidence of Insurability is required for amounts in excess of the guaranteed issue for all eligible employees

Monthly Voluntary Life Rates
Cost per $1,000 of benefit Cost per $1,000 of benefit
Age Bands Employee & Spouse Child
<20 0.090 $0.091
20-24 0.090 -
25-29 0.102 -
30-34 0.102 -
35-39 0.131 -
40-44 0.169 -
45-49 0.242 -
50-54 0.380 -
55-59 0.626 -
60-64 0.971 -
65-69 1.580 -
70-74 2.748
75-79 4.619
80+ 8.027

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