For Active Staff
The following rates apply to Optional Group Life Insurance coverage at headquarters. All rates are per pay period per $1,000 coverage. The rates are effective as of 07/01/2018 and are valid till further notice.
Age | Per paycheck rate per $1,000 coverage | Premium cost per paycheck: example based on salary of $100,000 net per year | ||||
One level of optional insurance | Two levels of optional insurance | Three levels of optional insurance | Four levels of optional insurance | Five levels of optional insurance | ||
under 25 | $0.011 | $0.55 | $1.10 | $ 1.65 | $2.20 | $2.75 |
25-29 | $0.011 | $0.55 | $1.10 | $1.65 | $2.20 | $2.75 |
30-34 | $0.017 | $0.85 | $1.70 | $2.55 | $3.40 | $4.25 |
35-39 | $0.022 | $1.10 | $2.20 | $3.30 | $4.40 | $5.50 |
40-44 | $0.038 | $1.90 | $3.80 | $5.70 | $7.60 | $9.50 |
45-49 | $0.062 | $3.10 | $6.20 | $9.30 | $12.40 | $15.50 |
50-54 | $0.109 | $5.45 | $10.90 | $16.35 | $21.80 | $27.25 |
55-59 | $0.179 | $8.95 | $17.90 | $26.85 | $35.80 | $44.75 |
60-64 | $0.257 | $12.85 | $25.70 | $38.55 | $51.40 | $64.25 |
65-69 | $0.333 | $16.65 | $33.30 | $49.95 | $66.60 | $83.25 |
70-74 | $0.534 | $26.70 | $53.40 | $80.10 | $106.80 | $133.50 |
75+ | $0.534 | $26.70 | $53.40 | $80.10 | $106.80 | $133.50 |
Optional Dependent Life Insurance
Washington-based staff (regular, open, term, executive director [ED], ED alternates advisors, and ED senior advisor appointments) may purchase Optional Dependent Group Life Insurance to cover a spouse/registered domestic partner and eligible dependent children (children over 14 days old and under age 25). As this is optional coverage, you pay 100 percent of the premium for the additional insurance. Two coverage levels are available:
Coverage Level | Coverage for spouse/DP | Coverage for each eligible child | Premium (per paycheck) regardless of number/type of covered dependents |
Standard | $20,000 | $8,000 | $1.65 |
High | $50,000 | $10,000 | $4.12 |
For Retirees
Note:
The rates below are indicative of the Bank's share and retiree's share.
The following rates apply per month to Retiree Group Life Insurance:
Age | Rate |
before age 80 | $0.610 per $1,000 coverage based on initial coverage amount |
after age 80: standard option ($5,000 coverage) | $3.05 |
after age 80: high option ($10,000 coverage) | $6.10 |