Voluntary Term Life Insurance Plan Summary
The Lincoln Term Life Insurance Plan Benefits At-A-Glance
- Provides a cash benefit to your loved ones in the event of your death
- Features group rates for Open Door employees.
- Includes LifeKeys services, which provides access to counseling, financial, and legal support
- Also includes TravelConnect services, which give you and your family access to emergency medical assistance when you’re on a trip 100+ miles from home.
| Coverage | Amount |
|---|---|
| Employee | |
| Guaranteed coverage amount during initial offering or approved special enrollment period | $200,000 |
| Newly hired employee guaranteed coverage amount | $200,000 |
| Continuing employee guaranteed coverage annual increase amount | Choice of $10,000 or $20,000 |
| Maximum coverage amount | 5 times your annual salary ($500,000 maximum in increments of $10,000) |
| Minimum coverage amount | $10,000 |
| Spouse | |
| Guaranteed coverage amount during initial offering or approved special enrollment period | $30,000 |
| Newly hired employee guaranteed coverage amount | $30,000 |
| Continuing employee guaranteed coverage annual increase amount | Choice of $5,000 or $10,000 |
| Maximum coverage amount | 50% of the employee coverage amount ($250,000 maximum in increments of $5,000) |
| Minimum coverage amount | $5,000 |
| Dependent Children | |
| 14 days to age 26 (if full-time student and unmarried) guaranteed coverage amount | Up to $10,000 |
| Birth to 6 months guaranteed coverage amount | $1,000 |
What Your Benefits Cover
Employee Coverage
Guaranteed Life Insurance Coverage Amount
Initial Open Enrollment: When you are first offered this coverage, you can choose a coverage amount up to $200,000 without providing evidence of insurability.
Maximum Life Insurance Coverage Amount
- You can choose a coverage amount up to 5 times your annual salary ($500,000 maximum) with evidence of insurability.
- The maximum coverage amount for employees 70 and older who are electing coverage for the first time is $50,000.
- Your coverage amount will reduce by 35% when you reach age 70 and an additional 15% of the original amount when you reach age 75.
Spouse Coverage
Guaranteed Life Insurance Coverage Amount
Initial Open Enrollment: When you are first offered this coverage, you can choose a coverage amount up to 50% of your coverage amount ($30,000 maximum) for your spouse without providing evidence of insurability.
Annual Limited Enrollment: If you are a continuing employee, you can increase the coverage amount for your spouse by $5,000 or $10,000 without providing evidence of insurability. If you submitted evidence of insurability in the past and were declined for medical reasons, you may be required to submit evidence of insurability.
If you decline this coverage now and wish to enroll later, evidence of insurability may be required and may be at your own expense.
You can increase this amount by up to $10,000 during the next limited open enrollment period.
Maximum Life Insurance Coverage Amount
You can choose a coverage amount up to 50% of your coverage amount ($250,000 maximum) for your spouse without providing evidence of insurability.
Your coverage terminates when the employee turns age 70.
Dependent Children Coverage
Guaranteed Life Insurance Coverage Options
Choose from $2,000, $4,000, $6,000, $8,000, and $10,000 coverage amounts.
Additional Plan Benefits
| Accelerated Death Benefit | Included |
| Premium Waiver | Included |
| Conversion | Included |
| Portability | Included |
Benefit Exclusions
Like any insurance, this term life insurance policy does have exclusions.
For life insurance, a suicide exclusion may apply.
A complete list of benefit exclusions is included in the policy. State variations apply.
Per Pay Rates
Employee | Semi-monthly Premiums for Select Life Insurance Coverage Amounts
| Employee Age Range | $10,000 | $50,000 | $100,000 | $200,000 | $300,000 | $500,000 |
|---|---|---|---|---|---|---|
| 0-24 | $0.20 | $1.00 | $2.00 | $4.00 | $6.00 | $10.00 |
| 25-29 | $0.25 | $1.25 | $2.50 | $5.00 | $7.50 | $12.50 |
| 30-34 | $0.40 | $2.00 | $4.00 | $8.00 | $12.00 | $20.00 |
| 35-39 | $0.55 | $2.75 | $5.50 | $11.00 | $16.50 | $27.50 |
| 40-44 | $0.70 | $3.50 | $7.00 | $14.00 | $21.00 | $35.00 |
| 45-49 | $1.15 | $5.75 | $11.50 | $23.00 | $34.50 | $57.50 |
| 50-54 | $2.15 | $10.75 | $21.50 | $43.00 | $64.50 | $107.50 |
| 55-59 | $3.95 | $19.75 | $39.50 | $79.00 | $118.50 | $197.50 |
| 60-64 | $5.75 | $28.75 | $57.50 | $115.00 | $172.50 | $287.50 |
| 65-69 | $9.90 | $49.50 | $99.00 | $198.00 | $297.00 | $495.00 |
| Employee Age Range | $6,500 | $32,500 |
|---|---|---|
| 70-74 | $11.86 | $59.31 |
| Employee Age Range | $6,500 | $32,500 |
|---|---|---|
| 75-79 | $9.13 | $45.63 |
| Employee Age Range | $6,500 | $32,500 |
|---|---|---|
| 80-99 | $9.13 | $45.63 |
Spouse | Semi-monthly Premiums for Select Life Insurance Coverage Amounts
| Employee Age Range | $5,000 | $20,000 | $30,000 | $100,000 | $200,000 | $250,000 |
|---|---|---|---|---|---|---|
| 0-24 | $0.10 | $0.40 | $0.60 | $2.00 | $4.00 | $5.00 |
| 25-29 | $0.13 | $0.50 | $0.75 | $2.50 | $5.00 | $6.25 |
| 30-34 | $0.20 | $0.80 | $1.20 | $4.00 | $8.00 | $10.00 |
| 35-39 | $0.28 | $1.10 | $1.65 | $5.50 | $11.00 | $13.75 |
| 40-44 | $0.35 | $1.40 | $2.10 | $7.00 | $14.00 | $17.50 |
| 45-49 | $0.58 | $2.30 | $3.45 | $11.50 | $23.00 | $28.75 |
| 50-54 | $1.08 | $4.30 | $6.45 | $21.50 | $43.00 | $53.75 |
| 55-59 | $1.98 | $7.90 | $11.85 | $39.50 | $79.00 | $98.75 |
| 60-64 | $2.88 | $11.50 | $17.25 | $57.50 | $115.00 | $143.75 |
| 65-69 | $4.95 | $19.80 | $29.70 | $99.00 | $198.00 | $247.50 |
Dependent Children | Semi-monthly Premiums for Life Insurance Coverage
| Coverage Amount | Semi-Monthly Premium |
|---|---|
| $2,000 | $0.10 |
| $4,000 | $0.20 |
| $6,000 | $0.30 |
| $8,000 | $0.40 |
| $10,000 | $0.50 |
Group Rates for Dependent Children
One affordable semi-monthly premium covers all of your eligible dependent children.
Note: You must be an active Open Door employee to select coverage for a spouse and/or dependent children. To be eligible for coverage, a spouse or dependent child cannot be confined to a health care facility or unable to perform the typical activities of a healthy person of the same age and gender.
