• Standard Life (Available to Employees Only)

This option provides life insurance volume determined by your annual salary. Your volume of insurance is determined by rounding your annual salary to the next highest thousand dollar and adding $2,000 dollars (i.e. $14,358 = $15,000 +$2,000= $17,000 of life insurance) Enrollment in this initial layer of life insurance is a pre-requisite to enroll in the Optional Life and Optional Dependent Life plans. If you do not enroll in the Standard Life insurance plan, there are no other options available to you. Rates for this insurance are determined by your annual salary and are shared equally by your employer.

• Optional Life Insurance #1 (Available to Employees Only)

This life insurance option provides Standard Life participants an opportunity to buy an additional layer of life insurance equal to that provided by the Standard Life Insurance. Cost for this coverage is borne solely by the participant and is determined by the volume of insurance and the participant’s age.

• Optional Life Insurance #2 (Available to Employees Only)

This life insurance option became available 1 January 2001 and is available to eligible employees enrolled in Standard and Optional Life #1. Employees not already enrolled in the pre-requisite plans or electing enrollment in Optional Life #2 are required to complete Personal Health Statements and submit to the Benefits Technician in Building 1401 for approval prior to enrollment.

Employees hired or becoming eligible after 1 January 2001 will be eligible to enroll in this new coverage during their 31-day benefit eligibility period.

This insurance option provides a third layer of life insurance. Volume for this third layer is calculated using the same method as Standard Life. By enrolling in this option employees will have three times the volume of Standard insurance (i.e. $10,500 salary = $13,000 volume for Standard Life + $13,000 Optional Life #1 + $13,000 Optional life #2 = $39,000)

The cost for this insurance is borne solely by the participant. The premium is calculated using the same method as that of Optional Life #1. EXAMPLE: if you are enrolled in Optional Life #1 at cost of $6.00 per pay period, your Optional Life #2 will be an additional $6.00 per pay period for a total Optional Life premium (#1 + #2) of $12.00 per pay period. For additional questions regarding actual premiums please contact your local personnel office.

• Optional Dependent Life Insurance (Dependents Only)

This life insurance provides Standard Life participants the opportunity to buy insurance for eligible dependents (as defined by Plan provisions). Insurance in the amount of $5,000 is provided for the eligible spouse of the participant and $2,500 is provided for eligible dependent children of the participant. The cost of this insurance is borne by the participant and is a minimal cost premium, regardless of the number of covered dependents.

• Optional Dependent Life Insurance #2 (Dependents Only)

This life insurance option became available 1 January 2004. This life insurance provides Standard Life participants the opportunity to buy insurance for eligible dependents (as defined by Plan provisions). Insurance in the amount of $10,000 is provided for the eligible spouse of the participant and $5,000 is provided for eligible dependent children of the participant. The cost of this insurance is borne by the participant and is a minimal cost premium, regardless of the number of covered dependents.

Click below for information on the following:

Life Extras

Travel Letter