Page 17 - Benefit Guide_SIPS_2020_Revised 2-12-21

Life / AD&D: Insurance

Lincoln Financial

Employee Life / AD&D Spouse Life / AD&D Child(ren) Life
Monthly Rate per $1,000 of Monthly Rate per $1,000 of Monthly Rate for $20,000
Life Benefit Life Benefit

$2.00 for all children
Under 29 $0.12 $0.12
(coverage stops at age 26)

30 - 34 $0.13 $0.13 N / A

35 - 39 $0.14 $0.14 N / A

40 - 44 $0.20 $0.20 N / A

45 - 49 $0.32 $0.32 N / A
50 - 54 $0.50 $0.50 N / A

55 - 59 $0.76 $0.76 N / A

60 - 64 $1.16 $1.16 N / A

65 - 69 $2.04 $2.04 N / A

70 - 74 $3.63 N / A N / A

75 - 79 $5.96 N / A N / A

80 - 100 $12.03 N / A 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. Follow the example below to determine your monthly cost. Benefits reduce
35% at age 65. Please see summary for additional reductions.

Example amount Divided by 1,000 Multiplied by rate of 35 year Example Monthly Cost
of Insurance old

$150,000 / 1,000 = 150 X $0.14 $21.00

To find the per pay period cost, follow the example below.

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

$150,000 $21.00 X 12 = $252 $9.69

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