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      = $___________ / ___________            = $___________