Washoe Country School District

July 24, 2014

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Life Insurance
 

BASIC GROUP TERM LIFE INSURANCE AND AD&D

 Basic Group Term Life Insurance with Accidental Death and Dismemberment (AD&D) Coverage is provided to all eligible District Employees at no cost to Employees except for part-time Certified Employees (part-time Certified Employees pay a prorated amount based on their FTE). 
 
Coverage limits are as follows:
  • $40,000 for Certified/Classified Employees
  • $50,000 for Confidential Classified Employees
  • $250,000 for Administrators, Pro-Techs & Psychologists


SUPPLEMENTAL GROUP TERM LIFE INSURANCE

The District also offers Supplemental Group Life Insurance to its eligible District Employees. Coverage may be purchased in $25,000 increments, up to a maximum of $250,000 subject to acceptable evidence of insurability. Eligible Employees may apply for this coverage during the District's annual Open Enrollment period. Employees with this insurance may also purchase coverage for their spouses and/or child(ren) during Open Enrollment. This insurance does not include AD&D) coverage.

Premiums are age rated. Below are the current monthly rates per $1,000 of Coverage.

Employees

Age   
<29
$0.05
30-34
$0.08
 
35-39
$0.09
40-44
$0.10
 
45-49
$0.18
50-54
$0.28
 
55-59
$0.50
60-64
$0.77
 
65-69
$1.11
70-72
$1.32
 
73-74
$1.57
75-76
$1.66
 
77-78
$1.78
79-80
$2.40
 
81-82
$3.42
83-84
$3.81
 
85-86
$4.23
87-88
$5.89
 
89-90
$6.35
91-92
$7.10
 
93-94
$9.58
95-96
$11.05
 
97-98
$13.15
99
$25.00

 

To calculate your premium:

  • Find the rate for your age band. Use the age that you will be turning next year.
  • Multiply the coverage limits you have or  for which you would like to apply by this rate.
  • Divide the total by $1,000.

Supplemental Group Term Life insurance may also be purchased for a spouse and children as long as the Employee has purchased this coverage for him/herself. Coverage limits for a spouse may be purchased up to 50% of Employee's coverage limit not to exceed $25,000. At the age of 65, coverage limits for a spouse will be reduced by 35% and will terminate the earlier of age 70 or when the Employee ceases to be an eligible Employee.

Supplemental Group Term Life Insurance coverage limits for child(ren) are set at $5,000 or $10,000 per child to age 19 (25 if full time student) with a premium of $0.86/month for the $5,000 coverage limit or $1.72 for the $10,000 coverage limit. These premiums are per family unit.

Premiums are age rated. Below for the current monthly rates per $1,000 of coverage for spouses.

Spouses

Age:
<29
$0.05
30-34
$0.08
 
35-39
$0.09
40-44
$0.10
 
45-49
$0.18
50-54
$0.28
 
55-60
$0.50
60-64
$0.77
 
65-70
$1.11
70-72
$1.32
 
73-75
$1.57
75-76
$1.66
 
77-79
$1.78
79-80
$2.40
 
81-83
$3.42
83-84
$3.81
 
85-87
$4.23
87-88
$5.89
 
89-91
$6.35
91-92
$7.10
 
93-95
$9.58
95-96
$11.05
 
97-98
$13.15
99
$25.00

 

To calculate your premium:

  • Find the rate for your age band. Use the age that your Spouse will be turning next year.
  • Multiply the coverage limits you have for your Spouse or  for which you would like to apply by this rate.
  • Divide the total by $1,000.

OTHER IMPORTANT INFORMATION

  • The Basic Group Term Life Insurance and Supplemental Group Term Life Insurance coverages do not build cash value.
  • Eligible Employees who retire from the District may continue up to $200,000 in Group Term Life Insurance (Basic Group Term Life and Supplemental Group Term Life combined). All premiums are paid by the Retired Employee and certain restrictions/limitations on coverage amounts apply.
  • At age 70, all coverage limits reduce by 50%. For Retired Employee, premiums are also reduced by 50%.
  • IMPORTANT: If you need to change your Life Insurance Beneficiary information, contact the Risk Management Office immediately. Some reasons you may need to change your Beneficiary information may include: Marriage, divorce, death or birth.

To view or print a copy of your Group Life Certificate, please click on one of the following: