NY LIFE | BASIC LIFE INSURANCE
DG3 offers Basic Term Life Insurance and Accidental Death & Dismemberment (AD&D) coverage at no cost to you!
This Employer Paid Life benefit is in the amount of 1.5x annual salary, to a maximum of $500,000. There is also a dismemberment schedule. If you were to lose a limb or eyesight, a portion of your benefit would be payable to you. Additional benefit information can be found in your Anthem summary which is located under Resources.
Voluntary Life – Employee Paid
This benefit is a supplemental benefit and is voluntary.
If you purchase Supplemental Life AD&D for yourself, your spouse and dependents, you get:
Employee: $10k increments to a max of $400k. Guarantee issue $200k
Spouse: $5k increments to a max of $200k. Guarantee issue $30k
Child(ren) $10k benefit. Guarantee issue $10k.
Benefit reduces to 65% at age 70; 50% at age 75. All coverage terminates at retirement.
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Supplemental Life and AD&D and Dependent Life Rates Semi-Monthly cost per $1,000 of coverage. Rates based on Employee Age. |
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Age |
Employee |
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< 25 |
$0.040 |
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Employee & Spouse Life Insurance Rates are based on volume of coverage and age as of January 1 of the plan year. Employee basic and supplemental life includes Accidental Death and Dismemberment coverage (AD&D). |
25-29 |
$0.047 |
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30-34 |
$0.059 |
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35-39 |
$0.065 |
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40-44 |
$0.071 |
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45-49 |
$0.101 |
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50-54 |
$0.149 |
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55-59 |
$0.270 |
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60-64 |
$0.409 |
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65-69 |
$0.778 |
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70+ |
$1.255 |
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Child(ren) Life |
The monthly cost is $0.045 per $1,000 of coverage and all eligible dependent children are included in the cost. |
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