Voluntary Life Insurance

Voluntary Life Insurance

The Standard

Employees should have received a packet of materials from The Standard via the US mail. Contents include a guide to your benefits and the enrollment form. 

NOTE: You must complete this form to keep your coverage!

This insurance is in addition to the $30,000 policy provided to all benefit eligible employees.

THIS YEAR ONLY:

  • Not covered yet? Elect up to $50,000 of coverage for yourself, up to $30,000 for your spouse - no questions asked!
  • Presently covered for an amount less than $250,000? Increase your coverage by one or two increments (max $250,000) - no questions asked!
  • No premium cost increase

 

How to Enroll

When completing your required enrollment form, check the box to the left of “Short Term Disability (Employee Paid)” plan option and list the amount of coverage you are electing or opting to continue.

IMPORTANT: persons presently covered must confirm their benefits by completing the form.

Don’t know how much coverage you have? Find the amount of weekly benefits on your current election sheet - Open Enrollment 2019-2020 (left column on chart under “Current Benefit Election,” which was provided to you by CES). 

Enrollment and Change Form

 

Learn More about Voluntary Life Insurance

Voluntary Life Insurance Plan Information

Why do I need additional insurance?

To replace income lost if something happens to you - providing money to your survivors is important, and life insurance is the most cost effective way to do it. The benefit can be used to pay off debt, pay for final expenses or fund a child’s education.

How much can I elect?

  • Employee - Increments of $10,000 to a maximum of $300,000 of Supplemental Life coverage.
  • Spouse - Increments of $10,000 to a maximum of $100,000 of Supplemental Life coverage. 
  • Child(ren) - For children ages Live Birth to age 26, $10,000 of Supplemental Life coverage.

 

Voluntary Life Insurance Cost Information

Coverage is available in $10,000 increments for employees and dependents. Premiums are based on the coverage amount you elect and your age. Premiums will be paid through the convenience of payroll-deduction.

Premiums are based on the employee’s age. The monthly rate per $1,000 of coverage is based on your age band.

Voluntary Life Insurance Rate Chart

Dependent children, up to age 26, may be covered for $10,000; one charge regardless of the number of eligible dependents. The cost of this coverage is $0.60/month.

 


Is there anything else I should know about this coverage?

The plan includes a Waiver of Premium benefit: if you become disabled prior to age 65 premiums are waived.

The plan is portable. You may be eligible to take the coverage with you if you employment ends.

Important Notice: When a participant moves from one age category to the next (e.g. 49 to 50), rates change to reflect the different category as of the following July 1.

For more information, contact: 
Phone: 
413.586.4900 x5923, x5922 or x5932
Email: 
hr@collaborative.org