2026-2027 Benefits Guide

OPTIONAL TERM LIFE INSURANCE Optional term life insurance coverage is available to full time employees and paid for by the employee. New hires who enroll within 31 days of eligibility may apply for any amount of life insurance up to the Guarantee Issue amount of $150,000.00 in increments of $10,000 not to exceed $300,000. Insurance coverage over the Guarantee Issue amount will be subject to Evidence of Insurability. Employees who do not enroll within 31 days of new hire eligibility may enroll during the annual Open Enrollment, but will be required to complete evidence of insurability form. One-Time Open Enrollment Opportunity (August 18 – September 11, 2026) During this one-time Open Enrollment, employees currently enrolled in Supplemental Employee Life Insurance may increase their coverage by up to $50,000 without Evidence of Insurability (EOI), provided their total coverage does not exceed the $150,000 Guaranteed Issue (GI) maximum. Current coverage counts toward the $150,000 GI maximum. Example: An employee currently enrolled in $110,000 of Supplemental Employee Life Insurance may increase coverage by $40,000, for a total of $150,000, without EOI. How Much Coverage Can I Get? To calculate your cost for optional life insurance, follow the directions below and the premium amounts on the age band table to the right. The example below can be used as a reference. • Enter the Term Life coverage amount you want. • Divide by 10,000. Age Band Table Per $10,000 Age

• Multiple by the rate based by your age. Use the Term Life rate table to find the rate based on your age (choose the age that was in effect as of 10/01 of the current plan year. Example: Plan year 10/01/2022-09/30/2023. The employees date of birth is 10/17/1988. The correct rate to use is .730 since the employee was 29 years old on 10/01). • Your rate will increase to the next age band each October 1. • Enter your monthly cost • Divide the monthly cost by 2 to determine your cost per pay period. • See the example below for reference. Example (100,000 coverage, age 40)

15-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74

$.680 $.740 $.980

$1.420 $2.180 $3.400 $5.020 $7.200 $9.300 $13.220 $25.000 $77.240

75+

$21.70/ month

$10.85/ Pay period

$100,000

÷ $10,000

X

$2.170

Calculate your cost using the table below.

Rate (determined by age band table)

Monthly Cost

Pay Period Amount (divide by 2)

Coverage Amt Increment

Times

$ ___________ ÷ $10,000

X

$ _________________ $ _________ $ _______________

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