You can elect voluntary life insurance coverage for yourself in flat amounts of $20,000, $25,000, $50,000, $75,000 and $100,000. You are initially eligible for a guaranteed issue up to $100,000 without Evidence of Insurability (EOI).
The benefit reduces by 35% at age 65 and to 50% at age 70. This policy is portable upon termination.
| Benefit | Employee: Choice of $20,000, $25,000, $50,000, $75,000 or $100,000. Spouse: 50% of the employee’s volume to a maximum of $50,000 Child: For ages 14 days to 6 months, flat $500. For ages 6 months to 23 years, 10% of employee’s volume to a maximum of $10,000 |
| Guaranteed issue amount | Employee: For ages 65-69, $10,000. For ages 70 and up, evidence of insurability is required for all amounts. Spouse: For spouse’s age 15-64, $10,000. For spouse’s age 65 and up, $5,000. Child: There is no guaranteed issue. All amounts are approved. |
| Is Evidence of Insurability (EOI) required? | Employee: Yes, for elections more than $10,000 for age 65-69. For ages 70 and up, evidence of insurability is required for all amounts Spouse: Yes. For spouse’s age 15-64, above $10,000 election. For spouse’s age 65 and up, above $5,000 election. Child: No |
| Who pays for coverage? | You, if you choose to enroll |
| Eligibility | First day of the calendar month following date of hire and regularly scheduled to work 20 or more hours per week. Employees (and dependents) may opt in at any time subject to evidence of insurability submission and approval by carrier. Temporary employees are ineligible. |
If you are newly enrolling in voluntary life benefits, you must complete an Evidence of Insurability (EOI) before Guardian will approve your enrollment.
Resources
Voluntary Employee Life Insurance Summary
Provider: Guardian
Plan ID# 386684
Phone: 800-541-7846