Page 56 - Down East Wood Ducks 2022 Benefits Guide
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How much does Term Life
the coverage cost?
Age band Employee rate Spouse rate
per $10,000 per $5,000
<25 $0.66 $0.185
25-29 $0.62 $0.24
30-34 $0.77 $0.35
35-39 $1.16 $0.53
40-44 $1.71 $0.805
45-49 $2.86 $1.235
50-54 $4.64 $1.83
55-59 $7.63 $2.645
60-64 $9.94 $3.585
65-69 $15.61 $5.175
70-74 $27.489 $9.79
75+ $45.331 $30.265
Child life monthly rate is $2.00 for $10,000. One life premium covers all children.
AD&D rate chart – you must purchase life coverage to purchase AD&D coverage
AD&D cost Monthly Cost
Employee Per $10,000 $0.20
Spouse Per $5,000 $0.10
Child $10,000 $0.10
Term life calculation worksheet
Coverage amount Increment Rate Monthly cost
X$ =$
Employee $ ÷ $10,000 X$ =$
= $2.00
Spouse $ ÷ $5,000 $2.00
Child $10,000
Your rate is based on your insurance age, which is your age on your actual birthday,
meaning that your rate will change on your birthday during the policy year.
Spouse rate is based on employee’s insurance age.
AD&D calculation worksheet
Coverage amount Increment Rate Monthly cost
X $0.20 =$
Employee $ ÷ $10,000 X $0.10 =$
= $0.10
Spouse $ ÷ $5,000 $0.10
Child $10,000
Do my life Coverage amounts will reduce according to the following schedule:
insurance benefits
decrease with age? Age: Insurance amount reduces to:
65 65% of original amount
70 50% of original amount
Coverage may not be increased after a reduction.
Please note: The amount of your Spouse’s Life insurance will reduce by the same
percentage and at the same time your life insurance reduces.