Life Insurance

Life Isurance

Basic Life Insurance:
The Board provides an amount of group term life insurance equal to your annual pay with a maximum coverage amount of $50,000 with no cost to you.

Optional Life Insurance For You
You may purchase additional term insurance at your expense in an amount equal to 1, 2, 3, 4, or 5 times your annual pay up to $500,000. For new hires, the lesser of 3 times pay or $300,000 is guaranteed issue. That means no medical questions. Additional amounts will require evidence of your good health before issue.

Optional Life Insurance For Your Dependents
You have several options for covering dependents. Option 1: You purchase $5,000 of coverage on all your eligible dependents for a flat monthly rate. Option 2: You buy either $10,000 or $25,000 of coverage on your spouse at the same rates that apply for your optional coverage, then elect to purchase either $5,000 or $10,000 on all your eligible children for a flat monthly rate.

If you require information or help with Life Insurance, please call the HCBE benefits office at chris.gibson@hcbe.net.

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