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SBP Worksheet

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Survivor Benefits Premium Worksheet

This worksheet will assist you in estimating the monthly premium (cost) for your SBP coverage for spouse/former spouse and/or children.

Spouse and/or Former Spouse SBP Coverage

Instructions Example Enter your figures here
Determine your base amount $2,000.00  
Multiply base by 6.5% ($2,000.00*6.5%)  
Equals monthly cost $130.00  

Spouse/Former Spouse and Chidren Coverage

The cost for spouse/former spouse and children coverage is based on your age, the age of your spouse/former spouse and the age of your youngest child from the marriage. The cost factors used for determining children coverage may be different for your situation. The factors used in this work sheet will allow you to estimate your cost. Contact the finance center or personnel counselor for an exact cost for your situation.

The cost factor for this worksheet (.00023) is based on the following data:

Retiree: Age 43

Spouse: Age 41

Youngest Child: Age 10

Instructions Example Enter your figures here
Determine your base amount $2,000.00  
Multiply base by 6.5% ($2,000.00*6.5%)  
Equals spouse coverage cost $130.00  
Cost factor .00023  
Multiply base by cost factor ($2,000*.00023)  
Equals children coverage $.46  
Add spouse and children coverage costs $130.00 + $ .46  
Equals monthly cost $130.46  

Child-Only Coverage

The cost for children-only coverage is based on your age and the age of your youngest child. It covers all eligible children. The cost factor used in this worksheet (.0039) is based on the following data:

Retiree: Age 43

Youngest child: Age 10

Instructions Example Enter your figures here
Determine your base amount $2,000.00  
Cost factor .0039  
Multiply base by cost factor ($2,000.00*.0039)  
Equals monthly cost $7.80  

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