Help Topics for Optional Life Insurance Premium Calculations

Years To age 65

The focus of this calculation is replacing lost employment earnings due to premature death.

The normal retirement age for most organizations is age 65.

The number of years between your present age and age 65 is a significant factor when calculating the amount of insurance needed to replace employment earnings.

Volume of Life Insurance

The focus of this calculation is replacing lost employment earnings due to premature death.

Your annual employment earnings are multiplied by the replacement percentage selected as well as the number of years between your present age and age 65.

The maximum amount of life insurance is $1 million and minimum amount is $25,000 for most plans.

Portability

Employees can apply for an individual policy without medical evidence and purchase the same amount of coverage by paying the standard premiums for that policy.