There are eight coverage options available for yourself with a maximum coverage of $800,000. For your spouse, you can choose coverage up to twice your creditable compensation, not to exceed $400,000. Coverage for your spouse will cease if you or your spouse divorce or if you are both eligible to participate in the Optional Group Life Insurance Program. Dependent children aged at least 15 days old can be covered for $10,000, $20,000, or $30,000, depending on the coverage option you select for yourself. Coverage will end when your child marries, becomes self-supporting, reaches age 21, or reaches age 25 as a dependent attending college full-time. Dependent unmarried children who are disabled can continue to receive coverage.
For those who have enrolled in the Optional Group Life Insurance Program within 31 days of their employment date, proof of good health is not required. However, if you are already enrolled and qualify for retirement, you may continue a part of your coverage upon leaving employment. You can reduce or cancel optional coverage online if necessary.
Optional Life Reduction Rates
Reduction rates will apply to your coverage based on your age and the plan you have chosen. The plan offers three levels of reduction:
|Reduction Level||Plan 1||Plan 2||Hybrid|
|First Reduction||Age 65||SSRA*||SSRA*|
|Second Reduction||Age 70||Age 70||Age 70|
|Final Reduction||Age 75||Age 75||Age 75|
*Social Security Retirement Age
For those enrolled in the optional plan but unable to continue coverage when they retire or defer retirement, a conversion to an individual policy is possible within 31 days of leaving your position. Proof of good health will not be necessary, and premiums will be billed directly to you.
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