Page 15 - 2022 Benefit Guide ST

Voluntary Life and AD&D Insurance

Voluntary Employee Life
Voluntary life insurance equal to 1 to 6 times your annual base
salary may be purchased.
• New hires may enroll up to 3x base salary up to $500,000,

without medical review. If you elect coverage in excess of 3
times base salary, you must provide “evidence of Insurability” Non Smoker Smoker
(EOI) and the election is subject to approval by Voya. Age Employee or Spouse Employee
Under 30 $0.06 $0.07
• 2022 annual open enrollment: employees currently
30-34 $0.08 $0.10
enrolled can increase 1x up to 3x or $500,000, without medical 35-39 $0.09 $0.10
review. 40-44 $0.13 $0.17
45-49 $0.15 $0.17
• Cost is based on age, amount of coverage and non-
50-54 $0.40 $0.77
smoker/smoker rate. Refer to the rate chart to the right for cost
55-59 $0.47 $0.84
information.
60-64 $0.69 $1.10
Voluntary Dependent Life 65-69 $1.27 $1.27
The employee must be enrolled in a minimum of 1x salary of 70-74 $2.95 $4.55
employee voluntary life insurance to be eligible to select Spouse or 74+ $5.40 $7.75
Children coverage.
Spouse—May elect increments of $5,000 up to $200,000.
• New Hires may enroll up to $50,000 without medical review. To Calculate the bi-weekly Life Insurance Premium:
• Elections over $50,000 will require “evidence of insurability” and Annual Base Salary (rounded up to the nearest 1000)
are subject to approval by Voya. divided by 1000 x rate on chart above = monthly rate.
Monthly rate x 12, divide by 26 = per pay period rate
• 2022 annual open enrollment: if currently enrolled
coverage may be increased by $5,000 up to $50,000, without Example: (Salary $45,000 & age 50-54)
$45,000/1000 x .40 = $18/mo.
medical review.
$18/mo. X 12 / 26 pay periods = $8.31 per pay.
• Cost is based on age, amount of coverage and non-smoker
rate. Refer to the rate chart for further information.

Child— 2022 annual open enrollment : May elect increments
of $5,000 to $20,000 without medical review.
• Cost is $.50 per month for each $5,000 of coverage for all
eligible children.

Voluntary Accidental Death & Dismemberment
• The employee can enroll for coverage in increments of $25,000, up to $1,000,000. The rate is .03 per $1,000 of coverage
per month.

• The family can enroll for coverage in increments of $25,000, up to $1,000,000. The rate is $.05 per $1,000 of coverage
per month. The employee benefit is 100% of the enrolled amount. The spouse benefit is 65% of the amount elected; the
child benefit is 15% of the amount elected.

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