Eligibility and Plan Description
The program allows you to obtain voluntary term life insurance for your spouse/partner and/or dependent children. Coverage is optional and is available for:
- Spouse/domestic partner
- Dependent children from 14 days old through the end of the month in which they turn 26, unless they are disabled.
- If a child is disabled and classified as a dependent for tax purposes, there is no maximum age for coverage.
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Plan Requirements
- You must elect voluntary term life insurance coverage for yourself before you can elect coverage for your dependents.
- The coverage amount for your dependents cannot exceed 100% of your own elected coverage.
Example
If your annual salary is $40,000 and you elect ½ x salary in voluntary term life insurance for yourself (i.e., $20,000), then the maximum coverage you can elect for your spouse is $20,000.
Enrollment Instructions
To Waive Coverage
- Select Option 90 from the drop down menu.
- Select the blue "Recalculate" button to refresh your elections.
To Enroll in Coverage
- Select Coverage Amount
Choose the option code from the drop-down menu that corresponds to your desired coverage level.- The Option Code is the number in parentheses next to the price.
- Reminder - your dependent's benefit amount cannot be more than 100 percent of your own benefit amount.
- Select the blue "Recalculate" button to update your elections.
No beneficiary designation is required. The primary beneficiary for the spouse/partner and dependent children voluntary term life insurance will always be the employee. The contingent beneficiary will always be the insured's estate.