Life and Accidental Death & Dismemberment
Catholic Dioceses of Columbus provides a life insurance and accidental death and dismemberment benefit (AD&D) for all full- time employees.
- The benefit is a flat $50,000 of coverage.
- The benefit reduces by 15% at age 70, an additional 45% at age 75 and an additional 10% at age 80.
- The coverage terminates when you retire.
Voluntary Life/AD&D
You’re able to purchase additional amounts of life/AD&D coverage to meet your individual needs. Voluntary Life/AD&D is available for employees, spouses and children. If voluntary life is elected, voluntary AD&D is automatically matched. The benefit reduces by 35% at age 70 and an additional 15% at age 75. The coverage may be continued or ported upon termination of active employment.
| Amount of coverage | Guarantee Issue Limit | |
|---|---|---|
| Employee coverage | Increments of $10,000 to a maximumthe lessor of 7 times your salary or $500,000 | $350,000 |
| Spouse coverage (employee must elect in order to cover spouse) | Increments of $5,000 to a maximumof $250,000 | $100,000 |
| Child coverage to age 26 (employee must elected in order to cover child) | Flat $25,000 benefit | $25,000 |
| Age | Employee & Spouse Monthly Rate per $1,000 |
|---|---|
| Under age 24 | $ 0.090 |
| 25 – 29 | $ 0.090 |
| 30 – 34 | $ 0.100 |
| 35 – 39 | $ 0.120 |
| 40 – 44 | $ 0.180 |
| 45 – 49 | $ 0.230 |
| 50 – 54 | $ 0.420 |
| 55 – 59 | $ 0.620 |
| 60 – 64 | $ 0.640 |
| 65 – 69 | $ 1.100 |
| 70 – 74 | $ 2.840 |
| 75 + | $ 11.390 |
| Child Rate | $ 0.225 |
Amounts over the guaranteed issue limit require Evidence of Insurability and approval before these amounts are effective.
| Calculate Your Cost | Example | You | ||
|---|---|---|---|---|
| Step 1 | Using the table, enter the rate that corresponds with your age. | $0.090 | ||
| Step 2 | Enter the desired coverage amount. | $100,000 | ||
| Step 3 | Divide Line 2 by $1,000. | 100 | ||
| Step 4 | Multiply Line 1 times Line 3 to calculate your monthly cost. | $9.00 | ||
Why Do I Need Life Insurance?
Ask yourself this: In the event of my death, how would my family …
- Pay final expenses?
- Pay off debt?
- Pay for daily living expenses?
- Replace Your Income?
- Maintain financial stability?
Catholic Diocese of Columbus LBT Brochure with LTC w rates
Basic Life_Class 1_Benefit Summary
