The VRS Optional Group Life insurance program provides additional life insurance protection at attractive group rates. Premiums for the employee and the spouse are based on the age of the insured person and increase with age. The rates shown are for each $1,000 of insurance.
| 1. | Your coverage amount | = | _____________ |
| 2. | Divide your coverage amount by 1,000 | = | _____________ $1,000 increments of coverage |
| 3. | From the table below, find the rate that corresponds with your age | = | _____________ Rate from table |
| x | _____________ Answer from #2 |
||
| = | Your monthly insurance premium |
Monthly rate per $1,000 of coverage
| Age | Rates |
|---|---|
| Under 30 | $0.05 |
| 30-34 | $0.05 |
| 35-39 | $0.06 |
| 40-44 | $0.09 |
| 45-49 | $0.14 |
| 50-54 | $0.20 |
| 55-59 | $0.33 |
| 60-64 | $0.65 |
| 65-69 | $1.15 |
| 70 and over | $2.06 |
Rates are subject to change. Employee and Spouse rates increase with age.
One premium covers all children; there is no per-child rate.
| Option 1 | $10,000 | $0.80 / month |
| Option 2 | $10,000 | $0.80 / month |
| Option 3 | $20,000 | $1.60 / month |
| Option 4 | $3,000 | $2.40 / month |
