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City Of Albuquerque > Employee Services > 2011 Insurance & Benefits > Voluntary Term Life - Cigna  

Voluntary Term Life - Cigna

Voluntary Life Insurance

If you would like to purchase additional life insurance protection for you or your dependents, you may do so through CIGNA’s voluntary life insurance. You must be a full-time employee and work a minimum of 20 hours per weeak to be eligible.

This plan is a voluntary plan, meaning if you participate you are responsible for the entire cost of the premium.

Voluntary Coverage for Yourself

You can buy coverage for yourself in increments of $10,000 up to $500,000. You can buy coverage for yourself in increments of $10,000 up to $500,000. If you purchase an amount greater than $250,000 or increase coverage after initial eligibility, you will need to provide evidence of insurability. Death benefits will be reduced by 50% at age 70. And, your coverage ends when you retire. Reduced or terminated coverage may be converted to an individual permanent life insurance policy. Please refer to your Group Insurance Certificate, or to the conversion brochure available from Human Resources, for details. If you become totally disabled before turning 60 years old, your coverage will remain in force without needing to pay premiums provided the insurance company approves you for this waiver of premium benefit. There is a nine-month waiting period and benefits will continue to age 65, as long as you remain totally disabled and provide proof each year. If you become terminally ill, you may receive 50% of your death benefit up to $250,000.

When you enroll in the voluntary life plan, you pay the premium cost through payroll deductions. The chart to the right shows your cost depending on your age and whether or not you smoke. You are considered a smoker if you used any form of tobacco in the last 12 months. Deductions are taken on a per pay period basis.

Rates

Voluntary Coverage for Your Dependents

If your spouse/domestic partner or child is also an employee of the same employer, they may only be covered as an employee or a dependent. No one may be covered as both an employee and spouse/domestic partner or employee and child.  If you decide to purchase coverage for your spouse/domestic partner, you may purchase coverage in increments of $10,000 up to $500,000, whether or not you purchase coverage for yourself. Rates are based on age and whether or not your spouse/domestic partner smokes. They are considered a smoker if they used any form of tobacco in the last 12 months. If you purchase an amount of dependent life coverage greater than the coverage amounts in the table to the right or increase coverage after initial eligibility, evidence of insurability will apply, which means you need to supply proof of good health which is acceptable to the insurance company.

You can also enroll your children in the plan. Coverage starts for children at least 14 days old through age 25. You can purchase coverage in increments of $2,500 to a maximum of $10,000. Coverage is limited to $500 for children 14 days to six months old. You and/or your spouse/domestic partner must be enrolled to enroll your dependent children

 

Last modified at 11/25/2009 11:52 PM  by System Account 
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