PMC 2024 Benefit Guide (English)

BASIC LIFE/ACCIDENTAL DEATH & DISMEMBERMENT (AD&D) BENEFITS

VOLUNTARY

VOLUNTARY LIFE BENEFIT OPTIONS

LEVEL OF COVERAGE

Increments of $10,000, to a maximum of $500,000. The Guarantee Issue Amount is $150,000.*

Employee

Increments of $5,000, to a maximum of $250,000, not to exceed 50% of employee amount. The Guarantee Issue Amount is $10,000*

Spouse

Children

Increments of $1,000, to a maximum of $10,000. The Guarantee Issue Amount is $10,000*

The Guarantee Issue Amount represents the maximum amount of voluntary life/ad&d insurance you can elect without having to answer medical questions. Any amounts above and beyond the guarantee issue amount will be subject to evidence of insurability to determine approval by Guardian.

*Guarantee Issue Amounts

VOLUNTARY LIFE RATES

RATE PER $1,000 OF BENEFIT

AGE GROUP

Under 30

$0.07

30-34

$0.09

Premium Calculation Example for Vol. Life Insurance

$0.09

35-39

Amount of Vol. Life Insurance = $50,000

40-44

$0.13

Age Group 35 - 39 = Rate of $.09 per $1,000 of Coverage

45-49

$0.17

50-54

$0.31

$50,000 divided by $1,000 = 50

55-59

$0.53

50 x $.09 = $4.50 per month/$54 per year

60-64

$0.75

26 pays per year - $54 divided by 26 = $2.08 per pay

65-69

$1.17

70-89

$2.89

90-94

$28.623

95-99

$43.717

Child(ren)

$0.167

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