Page 23 - Demo

Group Term Life and AD&D Coverage Options
Coverage Options
Additional Information
Basic Life
1x base annual earnings Maximum of $1,000,000
Coverage automatically provided to eligible employees at no cost to them.
Coverage guaranteed – no proof of good health is required
Additional Life
1-4x base annual earnings Maximum coverage of $1,000,000 (when combined with Basic Life)
All coverage guaranteed for employees if elected within 45 days of initial eligibility, or within 30 days of a qualified family status change
Dependent Life
Employees may choose from the following options:
Spouse: $5,000 / Child $2,500 Spouse: $10,000 / Child $2,500 Spouse: $25,000 / Child $2,500
Spouse: $5,000 / Child $5,000 Spouse: $10,000 / Child $5,000 Spouse: $25,000 / Child $5,000
All coverage guaranteed for dependents of
employees if elected within 45 days of initial eligibility period or within 30 days of a qualified family status change
Dependent coverage cannot exceed 100% of the employee’s total amount of life coverage (Basic and Additional Life combined)
Children are eligible from live birth until the end of the month in which they attain age 26 (See policy details for over age 26 coverage options.)
If both parents are employees, children may be covered by only one parent
If your spouse or child is eligible for coverage as an employee they cannot be covered as a dependent.
Accidental Death and Dismemberment (AD&D)
Employee
1-4x base annual earnings Maximum of $500,000
Family Plan
Spouse (with children): 40% Spouse (no children): 50% Each child (with spouse): 10% Each child (no spouse): 15%
All coverage is guaranteed – no proof of good health is required
Family plan percentages reflect percentage of employee’s AD&D coverage amount
Family plan maximums:
Spouse: $250,000 Child: $50,000
Children are eligible from live birth until the end of the month in which they attain age 26
Cost of Coverage
Coverage
Rate
Additional Life
$0.220/$1,000/month
Dependent Life
Spouse: $5,000 / Child $2,500 Spouse: $5,000 / Child $5,000 Spouse: $10,000 / Child $2,500 Spouse: $10,000 / Child $5,000 Spouse: $25,000 / Child $2,500 Spouse: $25,000 / Child $5,000
$3.01/month $3.26/month $5.83/month $6.08/month $12.76/month $13.01/month
AD&D
Employee Only Employee & Family
$0.023/$1,000/month $0.032/$1,000/month
How Much Life Insurance Do I Need?
Find help at Securian’s life insurance calculator at: LifeBenefits.com/insuranceneeds
BPS Employee Benefits Guide | 23
ADDITIONAL BENEFITS