Benefits and premiums

Eligible employees enrolled in the State Health Plan or the TRICARE Supplement Plan are automatically enrolled in Basic Life insurance at no cost. This benefit includes matching Accidental Death and Dismemberment (AD&D) coverage.

The Optional Life insurance benefit, with matching AD&D coverage, is a voluntary benefit. You will pay the entire premium for this coverage.

AD&D provides financial security should a sudden accident take your life or cause serious harm. This coverage complements your life insurance coverage and helps protect you 24 hours a day, 365 days a year.

How do you know if you have enough life insurance?

Chances are you may not have enough life insurance coverage for yourself or your loved ones.Purchasing more life insurance over basic coverage may lend greater financial security and peace of mind.

If you have a spouse and/or children, they may rely on you to help keep the household running. About 30 percent of U.S. households have no life insurance.1 It’s important to take steps to make sure your family is financially prepared if you are no longer here to cover expenses such as:

  • Mortgage or rent payments;
  • Insurance premiums;
  • Transportation;
  • Utilities;
  • Food; and
  • Child care/education fees.

Covering everyday living expenses is one part of the life insurance equation. Many families may have trouble keeping up with future expenses such as:

  • College tuition;
  • Wedding expenses;
  • Child or aging parent care; and
  • Retirement.

Consider life events that may cause you to need more protection. Getting married, having children and buying a home are a few examples. These could call for adding more life insurance coverage.

Basic Life insurance

You are automatically enrolled in Basic Life insurance if you are an eligible employee enrolled in the State Health Plan or the TRICARE Supplement Plan. This benefit includes matching Accidental Death and Dismemberment (AD&D) coverage. You receive this benefit at no cost.

  • $3,000 in term life insurance to eligible employees age 69 and younger; and
  • $1,500 to eligible employees age 70 or older.

Optional Life insurance

The Optional Life insurance program is a voluntary benefit in which you pay the entire premium. Optional Life coverage includes matching Accidental Death and Dismemberment (AD&D) coverage. More details are available in the Plan Summary.

Optional Life coverage is available in $10,000 increments up to $500,000. Coverage includes matching AD&D.

Premiums shown below are the monthly rate per $10,000 of coverage for employees. Premiums for Optional Life coverage are based on the amount of coverage and your age as of the preceding December 31. These rates are guaranteed until December 31, 2020.

Optional Life rates

(Rates per $10,000 of coverage)

Age                                 Monthly rate

Under 35                               $0.58

35-39                                     $0.78

40-44                                     $0.86

45-49                                     $1.22

50-54                                     $1.94

55-59                                     $3.36

60-64                                     $6.00

65-69                                     $13.50

70-74                                     $24.22

75-79                                     $37.50

80 and over                          $62.04

Dependent Life-Spouse insurance

The Dependent Life-Spouse coverage is a voluntary benefit in which you pay the entire premium. Dependent Life-Spouse coverage includes matching Accidental Death and Dismemberment (AD&D) coverage. More details are available in the Plan Summary.

Dependent Life-Spouse coverage is available in $10,000 increments up to $100,000 or 50 percent of your Optional Life amount, whichever is less. Coverage includes matching AD&D.

Premiums shown below are the monthly rate per $10,000 of coverage for spouses. Premiums for Dependent Life-Spouse coverage are based on the amount of coverage and your spouse’s age as of the preceding December 31. These rates are guaranteed until December 31, 2020.

Dependent Life-Spouse rates

(Rates per $10,000 of coverage)

Age                                       Monthly rate

Under 35                               $0.58

35-39                                     $0.78

40-44                                     $0.86

45-49                                     $1.22

50-54                                     $1.94

55-59                                     $3.36

60-64                                     $6.00

65-69                                     $13.50

70-74                                     $24.22

75-79                                     $37.50

80 and over                          $62.04

Dependent Life-Child insurance

The Dependent Life-Child coverage is a voluntary benefit in which you pay the entire premium. Dependent Life-Child coverage does not include matching Accidental Death and Dismemberment (AD&D) coverage. More details are available in the Plan Summary.

Dependent Life-Child coverage is available for $15,000 for children birth to age 19 or 25 if a full-time student. Coverage does not include matching AD&D.

One monthly premium covers all eligible children. The monthly premium is $1.26 for $15,000 of coverage. This rate is guaranteed until December 31, 2020.

1 LIMRA, Facts from LIMRA Life Insurance Awareness Month, September 2015.