Benefits » Other Insurance » Premiums Paid by Employee
2009 LANL Semi-Monthly Insurance Premiums
2009 LANL Semi-Monthly Insurance Premiums
(shown premium rates paid by the employee)
|
Basic Life Insurance |
Dependent Life Insurance |
|
Premium Rate |
|
Premium Rate |
Core Life Insurance
(paid 100% by employer) |
$0.0340 |
Same rate all ages |
Flat Premium $2.45/month |
Career |
$0.0340 |
|
|
Senior Management Plan |
$0.0340 |
|
|
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SUPPLEMENTAL LIFE PREMIUM CALCULATION |
Directions |
Example |
|
Employee is 50 years old, makes $102850, wants 5x his salary for Supplemental Life coverage. |
|
|
Take your annual salary, round up to the nearest thousand, and multiple by the level of coverage you want (i.e. 1 x your salary, 2 x your salary, etc) |
$103000x 5 (coverage at 5x's your salary) equals: $515,000 |
|
|
Divide the coverage amount result by 1000 |
$515,000 divided by 1000 equals: $515 |
|
|
Multiply the result by your age factor (see rate table) to get your semi-monthly premium rate factor |
$515 multiplied by .0825 equals: $42.48 -This the amount that will be deducted semi-monthly from your paycheck |
|
Supplemental Life Insurance |
Years of Age |
Premium Rate |
Years of Age |
Premium Rate |
<25 |
$0.0110 |
50 - 54 |
$0.0825 |
25 - 29 |
$0.0100 |
55 - 59 |
$0.1360 |
30 - 34 |
$0.0120 |
60 - 64 |
$0.1990 |
35 - 39 |
$0.0180 |
65 - 69 |
$0.2860 |
40 - 44 |
$0.0290 |
70 - 74 |
$0.5045 |
45 - 49 |
$0.0435 |
75+ |
$0.8440 |
|
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EXPANDED DEPENDENT LIFE PREMIUM CALCULATION
Spouse / Domestic Partner |
Directions |
Example |
|
The employee has $500,000 of supplemental life insurance coverage. The dependent is 50 years of age. |
|
|
Take the employee's amount of supplemental life coverage and divide by a factor of two. The result cannot exceed $200,000 of coverage. If the result is greater, use maximum of $200,000. |
$500,000 / 2
equals: $250,000
maximum allowable coverage for dependent: $200,000 |
|
|
Divide the coverage amount result by 1000 |
$200,000 / 1000
equals: $200 |
|
|
Take the result and multiply it by the age rate for the dependent. |
$200 x .273 |
|
|
Result is your semi-monthly rate |
$54.60 |
|
Expanded Life Insurance (spouse and family) |
Years of Age |
Premium Rate |
Years of Age |
Premium Rate |
<30 |
$0.0170 |
55 - 59 |
$0.1360 |
30 - 34 |
$0.0170 |
60 - 64 |
$0.2230 |
35 - 39 |
$0.0200 |
65 - 69 |
$0.3250 |
40 - 44 |
$0.0295 |
70 - 74 |
$0.4705 |
45 - 49 |
$0.0475 |
75+ |
$0.8295 |
50 - 54 |
$0.0775 |
Child |
$0.0190 |
![top of page](https://webarchive.library.unt.edu/web/20090506122344im_/https://www.lanl.gov/worklife/images/toparrow.gif)
SUPPLEMENTAL DISABILITY PREMIUM CALCULATION |
Directions |
Example |
|
Employee is 50 years old, makes $8,500 gross monthly, and wants a 30-day waiting period for Supplemental Disability STD and LTD coverage. |
|
|
Take your gross monthly salary, and multiply by the rate for your age and waiting period. |
$8500 x $.002980
equals: $25.33 |
|
|
Result is your semi-monthly rate |
$25.33 |
Supplemental Disability STD and LTD (7-Day Waiting Period) |
Years of Age |
Premium rate |
Years of age |
Premium rate |
<35 |
$0.000895 |
55 - 59 |
$0.007080 |
35 - 39 |
$0.00144 |
60 - 64 |
$0.009605 |
40 - 44 |
$0.002575 |
65 - 69 |
$0.011205 |
45 - 49 |
$0.00417 |
70+ |
$0.011205 |
50 - 54 |
$0.00558 |
|
|
Supplemental Disability STD and LTD (30-Day Waiting Period) |
Years of Age |
Premium Rate |
Years of Age |
Premium Rate |
<35 |
$0.000425 |
55 - 59 |
$0.003695 |
35 - 39 |
$0.000670 |
60 - 64 |
$0.005140 |
40 - 44 |
$0.001225 |
65 - 69 |
$0.006015 |
45 - 49 |
$0.002085 |
70+ |
$0.006015 |
50 - 54 |
$0.002980 |
|
|
Supplemental Disability STD and LTD (90-Day Waiting Period) |
Years of Age |
Premium Rate |
Years of Age |
Premium Rate |
<35 |
$0.000355 |
55 - 59 |
$0.003660 |
35 - 39 |
$0.000550 |
60 - 64 |
$0.004535 |
40 - 44 |
$0.001015 |
65 - 69 |
$0.005140 |
45 - 49 |
$0.001840 |
70+ |
$0.005140 |
50 - 54 |
$0.002660 |
|
|
Supplemental Disability STD and LTD (180-Day Waiting Period) |
Years of Age |
Premium Rate |
Years of Age |
Premium Rate |
<35 |
$0.000280 |
55 - 59 |
$0.002660 |
35 - 39 |
$0.000425 |
60 - 64 |
$0.003580 |
40 - 44 |
$0.000795 |
65 - 69 |
$0.004055 |
45 - 49 |
$0.001415 |
70+ |
$0.004055 |
50 - 54 |
$0.002090 |
|
|
|
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