Supplemental life insurance and AD&D through Lincoln Financial
In addition to employer-paid basic life insurance, Lincoln Financial offers a supplemental life insurance option and a supplemental AD&D option.
Plan Details
Eligibility: All full-time employees.
Contribution: You pay the cost of your coverage.
Coverage amount: One, two, three, four, or five times annual earnings rounded to the next higher $1,000. This amount may not exceed $1,000,000.
Spouse life coverage: Available in increments of $10,000, not to exceed $250,000.
Dependent children life coverage: Live birth to 26 years: $10,000.
Evidence of insurability: A health statement may be required.
Employee life insurance monthly rate per $1,000:
| Age Range | Monthly premium rate |
|---|---|
| 0 - 24 | $0.044 |
| 25 - 29 | $0.044 |
| 30 - 34 | $0.051 |
| 35 - 39 | $0.080 |
| 40 - 44 | $0.100 |
| 45 - 49 | $0.150 |
| 50 - 54 | $0.230 |
| 55 - 59 | $0.430 |
| 60 - 64 | $0.542 |
| 65 - 69 | $0.898 |
| 70 - 74 | $1.475 |
| 75 - 79 | $3.340 |
| 80+ | $4.855 |
Spouse life insurance monthly rate per $1,000:
| Age Range | Monthly premium rate |
|---|---|
| 0 - 24 | $0.044 |
| 25 - 29 | $0.044 |
| 30 - 34 | $0.051 |
| 35 - 39 | $0.080 |
| 40 - 44 | $0.100 |
| 45 - 49 | $0.150 |
| 50 - 54 | $0.230 |
| 55 - 59 | $0.430 |
| 60 - 64 | $0.542 |
| 65 - 69 | $0.898 |
| 70 - 74 | $1.475 |
| 75 - 79 | $3.340 |
| 80+ | $4.855 |
Eligibility: All full-time employees.
Contribution: You pay the cost of your coverage.
Coverage amount: Available in increments of $25,000, not to exceed the lesser of five times annual earnings or $1,000,000.
Family coverage:
- Spouse coverage without children: 50% of your coverage to a maximum of $500,000.
- Spouse coverage with children: 40% of your coverage to a maximum of $50,000.
- Child(ren) coverage without spouse: 10% of your coverage to a maximum of $500,000.
- Child(ren) coverage with spouse: 5% of your coverage to a maximum of $50,000.
Benefit reductions:
- Employee: Reduces to 65% at age 70, to 50% at age 75, and 25% at age 80.
- Spouse: Reduces to 65% at age 70, to 50% at age 75, and 25% at age 80.
AD&D Rate Information
| Coverage | Monthly rate |
|---|---|
| Employee | $0.040 per $1,000 in covered benefit |
| Family | $0.060 per $1,000 in covered benefit |
Benefit exclusions
Like any insurance, this life and AD&D insurance policy does have exclusions.
For life insurance, a suicide exclusion may apply.
For AD&D, benefits won’t be paid if death/dismemberment occurs as the result of:
- War, declared or undeclared, or any act of war.
- Intentionally self-inflicted injuries, while sane or insane
- Suicide, or suicide attempt, while sane or insane
- Active participation in a riot
- Committing or attempting to commit a felony
- Disease, bodily or mental illness, or medical or surgical treatment thereof
- Infections
- Controlled substances voluntarily taken, ingested, or injected unless prescribed or administered by a physician
- Serving on full-time active duty in the armed forces of any country or international authority
- The presence of alcohol in the covered person’s blood, which raises the presumption that the covered person was under the influence of alcohol and contributed to the cause of the accident.
This is an incomplete list of benefit exclusions. A complete list is included in the policy. 91¿´Æ¬Íø variations apply.
