Office of Human Resources - Benefits Design & Management

Aetna
An ASU Plan

Standard (Claims on or before Sept. 30)
The Hartford (Claims on or after Oct. 1)
A State of Arizona Plan

BASIC LIFE (Group Term Life)

Benefits Open Enrollment

See New Supplemental and Dependent Life Rates below.

$15,000

$0.90/pay period
(ASU paid)

Non-smoker Benefit

$1000

Basic Accidental Death and Dismemberment Coverage

$15,000

Seat Belt Benefit

$15,000

SUPPLEMENTAL LIFE (Group Term Life)
Benefit Options & Maximums

COVERAGE OPTIONS: One, two or three times your annual base earnings (rounded up to the next $1,000 and then multiplied by coverage level).
COVERAGE LIMITS: $10,000 minimum; $1 million maximum
GUARANTEED ISSUE AMOUNT: $500,000 without evidence of good health

COVERAGE OPTIONS: Available in $5,000 increments
COVERAGE LIMITS: Three times your annual salary or $300,000, whichever is less
GUARANTEED ISSUE AMOUNT: Same as Coverage Limits Above

Supplemental Life Cost
Per $1000 of coverage

AGE

RATE
(Per Pay Period/Per month)

 < 25           

 25-29          

<30

$0.046/0.100

 30-34          

30-34

$0.056/0.120

 35-39          

35-39

$0.064/0.140

 40-44          

40-44

$0.110/0.240

 45-49          

45-49

$0.148/0.320

 50-54          

50-54

$0.240/0.520

 55-59          

55-59

$0.342/0.740

 60-64          

60-64

$0.618/1.340

 65+            

65-69

$0.618/1.340

70+

$0.978/2.120

Supplemental Life
Premium Calculation Example

Determine Coverage Amount:
Round base annual earnings up to the next $1,000.
Multiply by 1x, 2x or 3x.
Divide by $1000.
Multiply by age-based rate.

Example: 
Age = 53
Base annual earnings = $99,800
Rounded up to the next $1,000 = $100,000
Multiply by 2x = $200,000

Divide by $1000 = $200
Multiply by premium rate $.198 = $39.60 per month
Multiply by 12 months = $475.20 per year
Divide by 26 pay periods = $18.28 per pay period

Determine Coverage Amount:
Determine coverage option (increments of $5,000)
Divide by $1,000

Multiply by age-based rate

Example:
Age = 53
Coverage option: $100,000

Divide by $1,000 = $100
Multiply by premium rate $.520 = $52.00 per month
Multiply by 12 months = $624.00 per year
Divide by 26 pay periods = $24.00 per pay period

Supplemental Accidental Death
and Dismemberment Coverage

 Equal to Supplemental Life Coverage

Equal to Supplemental Life Coverage
(See Booklet for schedule of benefits)

Supplemental Retiree Life Insurance Coverage

If employed at least 10 years but less than 15 years at retirement, will receive $5,000 retiree/$2,000 spouse/$1,000 child policy upon retirement. Premiums are at group rates and paid by the retiree.

If employed at least 15 years at retirement, will receive a $5,000 retiree/$2,000 spouse/$1,000 child policy upon retirement. Premiums are paid by the university.

COVERAGE AMOUNT
Spouse and Each Child

COVERAGE AMOUNT
Spouse and Each Child

RATE
(Per Pay Period/Per Month)

$2000

$0.434/0.940

$4000

$0.868/1.880

Spouse $5,000
Child(ren) $2,500

$6000

$1.302/2.820

Spouse $15,000
Child(ren) $7,500

$12,000

$2.603/5.640

Spouse $25,000
Child(ren) $12,500

$15,000

$3.254/7.050

Spouse $50,000
Child(ren) $25,000

Requires evidence of good health.

$50,000
Requires The Hartford
$35,000 Supplemental Life Minimum

$11.192/24.250

Arizona State Statute Requirement

Dependent Life Insurance (spouse coverage amount) cannot exceed the employee's total combined Basic Life and Supplemental Life Insurance coverage from both employer-sponsored plans.

Dependent Accidental Death & Dismemberment

 Not applicable.

Not Applicable.

Plan Summary and Document

 Pending

Summary: Booklet
Plan Document: Certificate
The Hartford: Pending