This optional program allows you to obtain additional life insurance, for yourself only, in excess of the amount provided by the group life coverage.

Schedule of Life Insurance

The optional, voluntary term life insurance plan allows you to acquire additional life insurance from one-half to three and one-half times your salary. The amount of coverage is based upon your annual benefits salary. If your salary is not an even thousand, it will be rounded to the next highest thousand and multiplied by the chosen coverage. Coverage is available in the following amounts:

1/2 x
1 x
1 1/2 x
2 x
2 1/2 x
3 x
3 1/2 x

Maximum Coverage Limits

The maximum amount of available life insurance is $1,000,000.


The voluntary term life insurance plan is age-rated—rates change as a person reaches ages 40, 50, and 60. When determining the right amount of coverage for you, take note of group life rates and voluntary term life rates. The rates for group life insurance are generally higher since it must insure all employees no matter what age they are or what medical conditions they might have. Carefully evaluate these two plans to ensure you are getting the most coverage for your money.

Age Monthly Rate per $1,000
Less than age 40 $.04
40 but less than 50 $.10
50 but less than 60 $.26
60 and up $.56

Voluntary term life insurance premiums are paid on a pre-tax basis. 

Adjustments to the amount of insurance and/or the rate paid for the insurance that is due to a change in age or budgeted salary will generally adjust annually on Jan. 1.

Taxable Life Insurance

The Internal Revenue Service (IRS) has determined that if an employer allows employees access to life insurance in excess of $50,000, the amount in excess of $50,000 has a value to the employee and is taxable.

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The information presented on our website describes only the highlights of the plans and does not constitute official plan documents. Additional terms and conditions may apply. If there are any discrepancies between the information contained herein and the official plan documents, the plan documents will govern.