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Basic &
Supplemental Life
Insurance
Basic Life Insurance
Basic Life insurance is
automatic for all benefit eligible employees, their spouses, and their
unmarried dependent children, age 10 days to 23 years. If you die
while enrolled, the plan will pay your full coverage amount to your
beneficiary. (Benefits are reduced for employees age 70 and older)
The plan will pay 100% of your annual salary with a minimum benefit of
$20,000. For the employee's spouse the amount is $2,000 and for the
employees dependent children the amount is $1,000 for each dependent.
Supplemental Life
Insurance
If you elect Supplemental
Life insurance, the plan will pay benefits in addition to any paid by the
Basic Life insurance. Supplemental Life insurance plan will pay 100% of
annual salary.
Premiums
Premiums for the Basic Life
insurance are paid by the State.
Premiums for Supplemental
Life insurance are paid by the employee depending on their age and annual
salary. Example: Annual Salary = $32,750, Age = 37, $.012 x 33 =
$3.96 monthly premium
|
Monthly Premium Rates
|
| Age |
Per $1,000 of
coverage |
| 35 & Under |
$0.08 |
| 36-40 |
$0.12 |
| 41-45 |
$0.17 |
| 46-50 |
$0.27 |
| 51-55 |
$0.43 |
| 56-60 |
$0.77 |
| 61-65 |
$1.04 |
| 66-70 |
$1.59 |
| 71-75 |
$2.27 |
| 76-80 |
$3.43 |
| 81-85 |
$5.11 |
Please
refer to the
Employee Group Insurance
Handbook
or
http://adm.idaho.gov/insurance/contracts.htm
for more detailed information.
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