Voluntary Life Insurance
Employees may purchase additional term life insurance for themselves and children. You have 30 days from your original eligibility date to qualify for guaranteed issue. Guaranteed issue is coverage for which you are eligible without providing evidence of good health.
For active employees age 70 and up, coverage decreases to a percentage of the full benefit.
Monthly Rates for Voluntary Life Insurance
Monthly Rates for Dependent Children
$2,000 – $10,000 in $1,000 increments, up to 50% of employee’s coverage. One cost per household regardless of the number of children; all eligible children are insured for the same amount. Up to $10,000 guaranteed issue if enrolled within 30 days of eligibility.
Rate: $0.112 per $1,000 of coverage (per household)
Late Enrollment or Coverage Increase
To begin or increase Voluntary Life Insurance after the 30-day eligibility period, ask Alliance Benefits how to apply.
Coverage is for active full-time Alliance employees; coverage ends when your active, full-time employment ends. Children’s Voluntary Life ends when they are no longer eligible for the Health Plan. You may convert terminated coverage (employee and/or dependents) to an individual Whole Life policy; conversion is guaranteed and is at a significantly different rate structure. Ask Alliance Benefits for details.