Life Insurance Plans
The City provides several Life Insurance policies for employees,
including
Accidental Death and Dismemberment Coverage,
Basic Life Insurance, and Commuter Life Insurance. These programs are
fully funded by the City of Mesa. Supplemental life insurance is
also offered at a premium cost paid by the employee.
Basic Life
Insurance
Basic Life Insurance is provided through Standard Life Insurance to
full-time employees at no cost to them. The benefit is equal to your
annual salary rounded up to the nearest $1,000. When you were hired,
you were asked to designate a beneficiary for this policy. We highly
recommend you verify your beneficiary every few years, but especially
when you experience a major life event, such as marriage, divorce, birth
or death of a family member.
Accidental Death and
Dismemberment
Like the Basic Life Insurance policy, this coverage is
provided through Standard Life Insurance to full-time employees at no
cost to them. The benefit is also equal to your annual salary rounded
up to the nearest $1,000. The beneficiary for this policy is the same
individual that you designated for your Basic Life Insurance described
above.
Commuter
Life Insurance
Provided through
CIGNA Life Insurance, this policy provides a $200,000 death benefit to
your beneficiary in the event you are killed as a result of an accident
that occurs while you are commuting to or from work using your normal
route. This policy does not cover travel by aircraft. The
beneficiary for this policy is the same individual that you designated
for your Basic Life Insurance described above.
Supplemental (or
Voluntary) Life Insurance offers you the opportunity to enroll in
additional life insurance coverage for you, your spouse, and/or your
dependent children. Coverage for you and your spouse is available
in $10,000 increments up to a total of the sum of the amount of life
insurance that the City provides plus what the employee purchases
for supplemental life, but not to exceed a total of $300,000. For
example, if an employee makes $30,000 per year, the City provides a
$30,000 policy at no cost to the employee. If the employee then
purchases $100,000 in supplemental life insurance, the spouse can
purchase up to $130,000 ($30,000 provided by the City plus the
$100,000 supplemental purchased by the employee.) Premiums for this
coverage are your responsibility and will be deducted by payroll.
The City does not contribute to this coverage.
To add or increase coverage, you will need to complete an application
form, which is available at
www.mesachip.org (Click on Benefit Forms). If you are not making
changes, you do not need to re-enroll.
If you have not
previously enrolled in Supplemental Life Insurance, or if you want to
increase coverage for you or your spouse, please be advised
that your application will be subject to underwriting and approval by
the carrier administering this plan.
This coverage may be portable should you terminate your employment with
or retire from the City of Mesa. However, the coverage must be in force
at the time your employment ends. If you do not meet the eligibility
requirements to portate, you may convert your policy instead. Please
refer to the Life Insurance Certificate of Coverage.
The premiums shown below are per $1,000 of
coverage:
Employee &
Spouse Monthly Premiums (per $1,000 of
coverage)
|
Age Band |
Employee & Spouse |
|
Age Band |
Employee &
Spouse |
|
Under 20 |
$0.06 |
|
50-54 |
$0.48 |
|
20-24 |
$0.06 |
|
55-59 |
$0.79 |
|
25-29 |
$0.06 |
|
60-64 |
$1.11 |
|
30-34 |
$0.07 |
|
65-69 |
$1.93 |
|
35-39 |
$0.09 |
|
70-74 |
$2.99 |
|
40-44 |
$0.17 |
|
75-79 |
$4.28 |
|
45-49 |
$0.35 |
|
80-89 |
$8.27 |
|
|
|
|
90+ |
$8.27 |
Dependent
Children Monthly Premiums
|
Child
Benefit |
Total
Monthly
Cost |
Premium is based upon the amount of coverage elected regardless
of the number of dependent children covered. Dependent children
are covered from ages 14 days to 19 years, and from 19 thru 23
years if a full-time student at an accredited school or on a
religious excursion.
|
|
$2,500 |
$0.40 |
|
$5,000 |
$0.80 |
|
$7,500 |
$1.20 |
|
$10,000 |
$1.60 |
For More Information
For detailed information about these programs, please please contact the
Employee Benefits Office at Ext. 2299 or refer to the
2007 Benefits Package.
We highly recommend every few years that you verify your
beneficiary information on the plans you elected, but especially when
you experience a major life event, such as marriage, divorce, birth or
death of a family member.
To change your beneficiary for Basic, AD&D Life Insurance, and Commuter Insurance
and/or Supplemental Life, click
here.
We recommend you make copies of the beneficiary information for your
records.
To find out who your beneficiaries are,
contact Employee Benefits at x2299. |
