Voluntary Supplemental Life Insurance
Full-time employees may purchase additional life insurance coverage through UNUM Life Insurance Company. Supplemental life insurance may be purchased through payroll deductions for the employee and their spouse up to $500,000 each or five (5) times the employee’s annual salary, whichever is less.
Dependent children may be covered up to $10,000 per child. The amount of life insurance purchased on a spouse and/or dependent must be equivalent to or less than coverage purchased on the employee. The employee may purchase up to $150,000 of guaranteed coverage within their first 30 days of eligibility. A spouse is guaranteed coverage of $25,000.
If desired coverage is greater than $150,000 or $25,000 respectively, a medical questionnaire must be completed and UNUM must approve the coverage.
Employees should apply for this coverage in Workday.
Monthly Premium Supplemental Life Rates
Age Band |
Employee Rate |
Spouse Rate |
Child Rate |
|
|
|
$ .73 |
15-29 |
.80 |
1.10 |
|
30-34 |
.90 |
1.16 |
|
35-39 |
1.20 |
1.60 |
|
40-44 |
1.79 |
2.28 |
|
45-49 |
2.83 |
3.58 |
|
50-54 |
4.52 |
5.59 |
|
55-59 |
6.98 |
8.46 |
|
60-64 |
10.90 |
14.55 |
|
65-69 |
18.82 |
24.86 |
|
70-74 |
33.66 |
44.28 |
|
75+ |
65.79 |
88.69 |
|
Printed from: https://handbook.rhodes.edu/rhodes-college-employee-handbook/group-benefits/voluntary-supplemental-life-insurance