Page 9 - 2021-22 Magnet Employee Benefits Brochure

2021–2022 Employee Benefits Brochure

Voluntary Life – Reliance Standard

Employee’s Monthly Cost of Voluntary Life Coverage:

Rate per $1,000 Rate per $1,000
Employee Spouse

<24 $0.056 $0.056
25-29 $0.060 $0.056
30-34 $0.080 $0.061
35-39 $0.090 $0.088
40-44 $0.140 $0.140
45-49 $0.230 $0.230
50-54 $0.381 $0.381
55-59 $0.621 $0.621

60-64 $0.786 $0.786
65-69 $1.300 $1.172
70+ $2.320 $1.172
Child Rate up $0.164
to age 19

There is only one rate and benefit amount for all eligible children in family, regardless of number.

How to Calculate Your Monthly Cost of Voluntary Life Coverage:
Step 1: Use the chart above to find your Monthly rate based on your age as of your effective date. Spouse
rates are based on spouse age.

Step 2: Multiply this rate by your desired coverage amount, in units. Reference the table above to find the
appropriate unit amounts for employee and/or dependents.

Step 3: The result is the Monthly cost.

Actual per pay period premiums may differ slightly due to rounding. Rates may be subject to change in the
future.

Please read this important information:
▪ You may not have coverage as both an employee and as a dependent
▪ Only one insured spouse may cover the eligible dependent children

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