You may purchase additional Life Insurance for yourself, your Spouse and/or your Children through Lincoln Financial Group’s Voluntary Life Insurance. The application process is simple and non-invasive; the affordable premium payment is available through payroll deduction.
Please see complete details and pricing below. NOTE: if you waive coverage at this time, and later choose to enroll, additional Evidence of Insurability will be required.
Employee Supplemental Life Insurance
Supplemental life insurance coverage may be purchased up to $150,000 in $10,000 increments. To determine your per paycheck cost, use the chart below. Your per paycheck cost is based on your age and the amount of life insurance you purchase. For example, the per paycheck post for a 31 year old employee with $50,000 in life insurance is $2.13.
Spousal Supplemental Life Insurance
Spousal supplemental life insurance is available through Lincoln Financial Group for up to $30,000. Spousal insurance may be elected in $5,000 increments and is limited to 50% of the employee’s voluntary life insurance amount. To determine the per paycheck cost for spousal life insurance, use the above chart. The per-paycheck amount is based on the employee’s (not the spouse’s age) and the amount of insurance purchased.
Child Supplemental Life Insurance
Child Supplemental Life insurance is available through Lincoln Financial Group for $10,000. This premium covers all dependent children regardless of the number of children. The deduction is $1.00 per paycheck.
