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 Plan Booklet
Hartford Life Insurance Application
Hartford Additional Life & Personal Health Application
Hartford Beneficiary Form
Conversion Form to Convert Hartford Life Policy to Individual Policy upon leaving employment with Jessamine County Schools