Plan Highlights for Asbury College

Group Voluntary Life and AD&D Insurance

Coverage Provided to You From Aetna

ASBURY COLLEGE GROUP VOLUNTARY LIFE AND AD&D INSURANCE

Plan Highlights for Asbury College

Group Voluntary Life and AD&D Insurance

Coverage Provided to You From Aetna

Voluntary Life and AD&D

Coverage Options

Employee:

·  Options of $10,000 to $500,000 in $10,000 Increments

Spouse:

·  Options of $5,000 to $250,000 in $5,000 Increments (cannot exceed 50% of employee election)

Child:

·  14 days months up to Age 19* (*23 if Full-Time Student): Increments of $2,000 to a maximum of $10,000.

Guarantee Issue

Employee

(Requires no answers to medical questions)

·  Lesser of 5 x salary or $200,000

Spouse/Child:

·  $30,000/$10,000

Contribution Requirements

Voluntary Life Coverage is 100% employee paid.

Employee & Spouse

Monthly Voluntary Life Rates

Spouse rates will be based upon employee’s birth year

Per $1,000 of benefit

Age / Employee Rate / Spouse
Rate
<20 / $0.063 / $0.051
20-24 / $0.063 / $0.060
25-29 / $0.075 / $0.067
30-34 / $0.100 / $0.076
35-39 / $0.113 / $0.096
40-44 / $0.126 / $0.127
45-49 / $0.188 / $0.189
50-54 / $0.289 / $0.297
55-59 / $0.540 / $0.485
60-64 / $0.829 / $0.876
65-69 / $1.595 / $1.472
70-74 / $2.587 / $2.597
75-79
80-84
85+ / $2.587
$2.587
$2.587 / $4.449
$7.869
$32.63
Child Life Insurance Options
(regardless of # of children):
·  $2,000- $0.19
·  $4,000- $0.39
·  $6,000- $0.58
·  $8,000- $0.78
·  $10,000- $0.97

Monthly Voluntary AD&D Rate Per $1,000 of benefit:

$0.033 – Employee

$0.056 – Employee & Family

Family AD&D Works As follows:

Employee- 100% of amount elected

Spouse- 50% of Employee’s amount (40% if Child included)

Child(ren) - 15% of the Employee’s amount (10% if spouse is included)

Coverage Example Voluntary Life:

Employee: Age 39 elects $150,000 $16.95

Spouse: elects $30,000 $2.88

Children: $10,000 $0.97

TOTAL MONTHLY COST $20.80

(Child cost is same regardless of amount of children)

Coverage Example Voluntary AD&D:

Employee & Family: elects $150.000 $8.40

Benefit Reduction Schedule: Age 70 – 35%; Age 75 – 50%