Select a School...
Select a School
Today's Date
Tuesday, October 21, 2014

ATLANTA PUBLIC SCHOOLS

GROUP TERM LIFE INSURANCE INFORMATION

Greater Georgia Life Insurance Company was approved as the new Life Insurance carrier effective January 1, 2010. The Term Life Insurance Plan offers all regular, full-time employees $10,000 life insurance coverage at no cost to the employee.

Under this plan, the Optional Employee, Spouse and Child coverages are completely portable in case of termination, which enables employees to continue paying the same low group rates even if they leave the school system.

OPTIONAL EMPLOYEE GROUP TERM LIFE INSURANCE

 

Employees may select up to five (5) times their annual salary for term life insurance coverage under this plan. Amounts up to $500,000 (based on salary) can be purchased within 31 days of employment without completing a Health Statement.

Premium rates for all employees who enroll for Optional Coverage will increase automatically based on age and salary changes according to premium rate schedule.

OPTIONAL SPOUSAL TERM LIFE INSURANCE

 

Employees may enroll for spousal coverage up to 50% of the employees own optional coverage amount, up to $250,000 in increments of $10,000. If you do not apply for this coverage within 31 days of being eligible, a Health Statement will be required. You may only cover a legal spouse.

You cannot continue coverage on a divorced spouse.

You may not carry coverage on a spouse who is an employee or retiree of Atlanta Public Schools.

OPTIONAL CHILD TERM LIFE INSURANCE COVERAGE

You cannot continue coverage on a divorced spouse.

You may not carry coverage on a spouse who is an employee or retiree of Atlanta Public Schools.

OPTIONAL CHILD TERM LIFE INSURANCE COVERAGE

 

You may elect either $5,000 or $10,000 life insurance coverage on your dependent children who are under the age of 19, or up to 25 if they are full time students. If you do not apply for this coverage within 31 days of being eligible, a Health Statement will be required. It is your responsibility to notify the Employee Benefits Department when your child reaches age 19 and is no longer a full time student.

PERSONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE

PERSONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE

PERSONAL ACCIDENTAL DEATH AND DISMEMBERMENT INSURANCE

As an employee, you may select any amount in multiples of $10,000, up to a maximum of $100,000.You may elect a family rider, covering a spouse with equal coverage and children for $10,000 of coverage.

Greater Georgia Life Insurance Company

Is pleased to announce

 

Group Term Life Insurance Options for Atlanta Public Schools

Basic Term Life Insurance for all employees (Board Provided) $10,000

OPTIONS:

Supplemental Term Life:

 

 

Supplemental Term Life

Age

Employee

Spouse

Rate/$1,000

Rate/$1,000

Under Age 30

$0.031

$0.043

30-34

$0.042

$.051

35-39

$0.047

$.068

40-44

$0.053

$.128

45-49

$0.121

$.340

50-54

$0.230

$.706

55-59

$0.333

$1.173

60-64

$0.446

$2.338

65-69

$0.474

$3.366

70 and over

$1.850

13.14

Example: A 45-year-old with $200,000 of coverage will pay $24.20 per month ($12.10 per Pay Period)

Available in amounts up to five times annual salary rounded to the next highest $10,000. There is a guarantee limit of $500,000 for employees. You may elect up to 50% of your coverage amount for your spouse to a maximum of $250,000.

Upon termination of employment, all employees have the privilege of converting Basic $10,000 into an individual policy at current rates. The supplemental portion is portable.

 

Dependent (Child) Life

Option 1

Option 2

Child(ren)**

$5,000

$10,000

Rate/All Children

$0.78/month

$1.56/month

** Children age 15 days to 19 years (up to 25 if full time student)

Supplemental AD&D:

 

 

Supplemental AD&D

Amount

Employee

Employee/Dependents

$10,000

$0.30

$0. 45

$20,000

$0.60

$0.90

$30,000

$0.90

$1.35

$40,000

$1.20

$1.80

$50,000

$1.50

$2.25

$60,000

$1.80

$2.70

$70,000

$2.10

$3.15

$80,000

$2.40

$3.60

$90,000

$2.70

$4.05

$100,000

$3.00

$4.50