Dependent Life Insurance Worksheet

Determine life insurance coverage for your spouse and/or children.

Dependent Life Plan 1: Spouse and/or Children

Provides coverage for your Spouse and/or Children for the amount of $5,000 each. The cost of this coverage is $0.53 twice monthly.

Coverage is available in increments of $10,000 from $10,000 up to $400,000.

Dependent Life Plan 2 Coverage Rates
Age Bands	Rates per $1,000 Coverage
The costs listed are twice monthly payroll deductions.
<29	$0.022
30-34	$0.033
35-39	$0.039
40-44	$0.044
45-49	$0.075
50-54	$0.104
55-59	$0.196
60-64	$0.305
65-69	$0.582
>69	$0.945

To calculate your Dependent Life twice monthly payroll deduction for a spouse, follow these steps:

Enter the amount of coverage
Divide by 1,000 (for the number of units of $1,000)
Multiply by the rate for the Spouse's age group to get the Dependent Life Insurance total of twice monthly premium.

Calculate the Units: $100,000 (Amount of Coverage) divided by $1,000 = 100 Units.
Calculate the Premium: 100 Units x $0.039 (Rate for the Dependent Life Plan 2, Ages 35-39) = $3.90 twice monthly

Provides coverage for your Child(ren) for the amount of $10,000 each at a cost of $0.95 twice monthly.

This page was last updated on: January 1, 2022.