Life Insurance Rates

Basic Life/AD&D Insurance

Active Employees

  • 12-month employee: $0.165 per $1,000 (university paid)
  • 9-month employee: $0.220 per $1,000 (university paid)

Retired Employees

  • Basic Coverage $2,500 & $25,000; $0.155 per $1,000 (university paid)

Supplemental Life/AD&D Insurance

The amount that is deducted from an employee's paycheck is determined by a few factors: age, salary, coverage level elected and employee type. Substitute your age, salary, coverage level elected and employee type in the below example to calculate the per-pay cost for Supplemental Life Insurance.

Using the table and example below:

Monthly Rates:

Age Employee Type Total Rate (Including AD&D Rate) University Contribution Rate (Including AD&D Rate) Employee Contribution Rate (Including AD&D Rate)
Less than 25 12-month $0.06 $0.01 $0.05
9-month $0.08 $0.01 $0.07
Age 25-29 12-month $0.07 $0.01 $0.06
9-month $0.09 $0.01 $0.08
Age 30-34 12-month $0.09 $0.01 $0.08
9-month $0.12 $0.01 $0.11
Age 35-39 12-month $0.10 $0.01 $0.09
9-month $0.13 $0.01 $0.12
Age 40-44 12-month $0.11 $0.01 $0.10
9-month $0.15 $0.01 $0.14
Age 45-49 12-month $0.16 $0.01 $0.15
9-month $0.21 $0.01 $0.20
Age 50-54 12-month $0.23 $0.01 $0.22
9-month $0.31 $0.01 $0.30
Age 55-59 12-month $0.40 $0.02 $0.38
9-month $0.53 $0.02 $0.51
Age 60-64 12-month $0.57 $0.02 $0.55
9-month $0.76 $0.03 $0.73
Age 65 & over 12-month $0.68 $0.07 $0.61
9-month $0.91 $0.09 $0.82

Example:

Substitute your age, salary and employee type in the below example to calculate your cost per-pay:

12 month employee, 47 years old, $50,100 salary, electing coverage at two times salary level:  

  1. Multiply salary by 2 (since coverage is two times salary): $100,200
  2. Round up to the nearest 1,000: $101,000
  3. Divide by 1,000: 101
  4. Determine age and Employee Contribution Rate (using table above) : $0.15
  5. Multiply answer from #3 above by answer from #4 above (this represents the monthly cost): $15.15
  6. Divide by 2 (this represents the bi-weekly cost): $7.57
  7. In this example, $7.57 will be deducted from each paycheck

Dependent Life Insurance

Bi-weekly Rates:  

Coverage Option Benefit Amount 12-month Employee Cost Per Pay 9-month Employee Cost Per Pay
Spouse $20,000 $1.50 $2.00
Child $10,000 Per Child $0.75 $1.00

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