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Board Life Insurance

Hartford Life Insurance Company  

Full-Time Employees receive a $20,000* term life insurance policy (Provided by the Board of Education at no cost to the employee)
*Amount of Insurance received is as follows:
16-64 yrs = $20,000
65 yrs old = $13,000
70 yrs old = $10,000

 

Additional Life Insurance may be purchased according to the rate schedule below:


AGE

RATE

 

Per $1000 /per month

16-34

$ 0.058

35-39

$ 0.078

40-44

$ 0.116

45-49

$ 0.193

50-54

$ 0.299

55-59

$ 0.549

60-64

$ 0.711

65-69

$ 1.234

70 +

$ 2.149

CHILDREN

$ 0.14

Employees may purchase additional coverage in increments of $10,000 up to a maximum of $300,000.  The amount of additional life insurance purchased cannot exceed 5 times a person’s annual contract salary (rounded down to the nearest $10,000). Note that at age 65 the insurance benefit is reduced to 65% of face value and at age 70 the benefit is reduced to 50% of face value.

Additional coverage may be purchased for an employee’s spouse in increments of $5,000 up to a maximum of $50,000.  The amount of insurance purchased for a spouse cannot exceed 50% of the amount purchased (does not include the $20,000 provided by the Board) for the employee.

Additional coverage may be purchased for an employee’s child(ren) in increments of $1,000 up to a maximum of $12,000. The amount of insurance purchased for a child cannot exceed the lesser of:  25% of the amount purchased by the employee, or $12,000.

Children are eligible from age 6 months to 19 years.  An unmarried child may be covered up to age 25 if he/she is attending an accredited school fulltime and is financially dependent on the employee.

Hartford Life Insurance Application
Additional Life & Personal Health Application