Page 8 - Hanover Medical Management Sevices - 2022 Benefit Guide

Voluntary Life / AD&D:

MetLife

Child Life
Employee Life / AD&D Spouse Life / AD&D
Pay Period Cost per
Pay Period Cost per $1,000 Pay Period Cost per $1,000 $20,000 Benefit (ALL Child
Benefit Benefit
(ren) Included

Under 20 $ 0.087 $ 0.087 $ 0.2910

20—24 $ 0.087 $ 0.087 $ 0.2910

25—29 $ 0.087 $ 0.087 n/a

30—34 $0.117 $0.117 n/a

35—39 $0.127 $0.127 n/a

40—44 $ 0.137 $ 0.137 n/a

45—49 $ 0.217 $ 0.217 n/a

50—54 $0.308 $0.308 n/a

55—59 $0.548 $0.548 n/a

60—64 $0.839 $0.839 n/a

65—69 $1.59 $1.59 n/a

70—100 $4.575 $4.575 n/a

Employees are responsible for paying the cost of voluntary life coverage through payroll deduction. Calculate the cost by dividing the
amount of voluntary life insurance by 1,000 and multiply by the appropriate rate above. Below is an example of your monthly cost.

Example amount Divided by 1,000 Multiplied by rate for Example Monthly Cost
of Insurance a 37 year old

$100,000 / 1000 = 100 X 0.127 $12.70
To find the per pay period cost, follow the example below.

Example amount Monthly Cost Multiplied by 12 Annual Cost Divided by
of Insurance Months 26 Pay Periods

$100,000 $12.70 X 12 =$152.40 $5.86

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