Group Term Life Insurance

We offer Group Term Life Insurance with the Board of Education. You may apply for new coverage on yourself (employee) up to $150,000 Guaranteed Issue or 7 times your salary. If you are a current employee, then you will need to answer medical questions (EOI) for underwriting. If you have coverage and it is under $150,000, you may increase the coverage by $10,000 each year during open enrollment guaranteed up to a max benefit of $150,000 for the employee, The Spouse may increase with an EOI Completed. but Spouses 60 and over must complete an EOI on any increase . You may purchase up to $500,000 or 7 times salary as the maximum benefit under the plan.

Coverage is available to your spouse based on the same rates as an employee and up to the same amount of coverage selected for the employee. (See above Spouses 60 and above must complete EOI Forms). All Spouses must complete and EOI form after $50,000 GIO. A Spouse may not apply after Age 70 for new coverage, Children may be added for $3.00 a month for $15,000 coverage. $3.00 for all Children. Children are considered covered to Age 26. Please remember to drop children coverage when your children are no longer eligible! Please also request us to drop your Spouse coverage if you become divorced. ( Please see Life Policy definitions of Marriage and Children for specific wordage ). Spouses may apply up to $50,000 Guaranteed Issue as a new Spouse of a new employee.

You may add Accidental Death & Dismemberment (AD&D) on a Voluntary basis in addition to Term Life. An Employee can purchase up to $500,000 at .03 per 1,000 and 50% on a Spouse at .03 per 1,000. Click on AD&D for Application. See AD&D Coverage

You may apply for coverage up to 7 times your salary. A Physical Exam may be required based on underwriting for amounts over $150,000 and for certain medical conditions. You may apply up to a maximum of $500,000. The 1st $50,000 is Pre-taxed.

Policy # VG187392