Rate Sheet
Coverage and monthly rates for Voluntary Life Insurance. Voluntary Life insurance is contributory, meaning that you are responsible for paying for all or a portion of the cost through payroll deduction.
| Employee Monthly rates per $1,000 of Life coverage | |
|---|---|
| Your Age | Rate |
| 0-24 | $0.050 |
| 25-29 | $0.060 |
| 30-34 | $0.080 |
| 35-39 | $0.090 |
| 40-44 | $0.140 |
| 45-49 | $0.210 |
| 50-54 | $0.330 |
| 55-59 | $0.480 |
| 60-64 | $0.740 |
| 65-69 | $1.270 |
| 70+ | $3.850 |
| Dependent Spouse Monthly rate per $25,000 of Life coverage |
|---|
| $8.320 |
| Dependent Child(ren) Monthly rate per $10,000 of Life coverage |
|---|
| $3.00 |
Cost to You
Calculate your cost by dividing your amount of Voluntary Life insurance by 1,000 and multiplying the result by the appropriate rate above. Follow the example below to determine your monthly cost.
| Example amount of insurance | Divided by 1,000 | Multiplied by rate | Example monthly cost * |
|---|---|---|---|
| $35,000 | / 1,000 = 35 X | $0.080 | $2.80 |
| Your volume of insurance | Divided by 1,000 | Multiplied by rate | Your monthly cost * |
|---|---|---|---|
| $___________ | / 1,000 = __________ X | $___________ | $___________ |
| Your monthly cost | # of Months | Annual cost | # of pay periods per year (12, 24, 26, 52, etc.) | Your estimated cost per pay period* |
|---|---|---|---|---|
| $___________ | x 12 = | $___________ | / ___________ = | $___________ |