Page 16 - Ampact 2022 Benefit Guide

Voluntary Life and AD&D Insurance Premium

Calculation – Monthly

Voluntary Life and AD&D Per $1,000 Per $1,000
Age Employee Spouse/DP
<29 $0.07 $0.077
30-34 $0.09 $0.097
35-39 $0.10 $0.107

40-44 $0.123 $0.130
45-49 $0.181 $0.188
50-54 $0.298 $0.305
55-59 $0.456 $0.463
60-64 $0.670 $0.677
65-69 $1.280 $1.287
70+ (Employee Only) $2.070

Voluntary Dependent Child Life & AD&D $0.26 per $1,000

To calculate the payroll deduction, use the rates and Examples:
the formula below:
Employee Spouse/DP

Enter the amount of If you are age 30 If you are age 30
coverage desired and elect $10,000 in and elect $5,000 in
coverage: coverage:
Divide the amount by
1,000 $10,000 divided by $5,000 divided by
$1,000 = 10 $1,000 = 5
Select your rate from the

rate table 10 x $0.09 = $0.90 5 x $0.097 = $0.485

Multiply divided amount Your monthly Your monthly
by the rate on the line premium is $0.90 premium is $0.485
above
Your premium per Your premium for
paycheck would your spouse/DP per
be $0.45 paycheck would be
$0.2425

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Effective August 1, 2022-July 31, 2023