Life Insurance

Basic Coverage

The State pays the total premium costs for full-time employees’ health coverage and basic term life insurance of $5,000 term life with $5,000 of AD&D coverage. The basic plan provides coverage for employees only; it does not include coverage for employees’ eligible dependents.

Optional Coverage

All employees are eligible to enroll in optional coverage and enroll their eligible dependents. Employees may purchase additional term life insurance for up to four times their annual salary (maximum of $400,000). They may also purchase Accidental Death and Dismemberment (AD&D), Long-term Disability and Short-term Disability.

Premium Rate

Employees pay for any additional optional term life coverage selected. Rates per $1,000 of annual salary are based on age. After the first 31 days of employment, Elections I and II require approval through evidence of insurability. Elections III and IV always require approval through evidence of insurability.

Table 1: Optional Term Life Insurance Rates
Age	Election 1	Election 2	Election 3	Election 4
Under 25	$0.05	$0.10	$0.15	$0.20
25 - 29	$0.05	$0.10	$0.15	$0.20
30 - 34	$0.06	$0.12	$0.18	$0.24
35 - 39	$0.06	$0.12	$0.18	$0.24
40 - 44	$0.08	$0.16	$0.24	$0.32
45 - 49	$0.12	$0.24	$0.36	$0.48
50 - 54	$0.19	$0.38	$0.57	$0.76
55 - 59	$0.33	$0.66	$0.99	$1.32
60 - 64	$0.57	$1.14	$1.71	$2.28
65 - 69	$0.93	$1.86	$2.79	$3.72
70 - 74	$1.48	$2.96	$4.44	$5.92
75 - 79	$2.41	$4.82	$7.23	$9.64
80 - 84	$3.92	$7.84	$11.76	$15.68
85 - 89	$6.79	$13.58	$20.37	$27.16
90 +	$10.57	$21.14	$31.71	$42.28

Beginning at age 70, Optional Term Life coverage is reduced to a percentage of your annual salary according to the table below:

Age	%
70-74	65%
75-79	40%
80-84	25%
85-89	15%
90 & above	10%

Dependent Life

The rate for and employee's eligible dependent term life is $1.38/month ($5,000 term life for eligible dependents with AD&D coverage).

Page updated: 09/21/2012