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2024 Additional Life, AD&D Insurance, and Dependent Life Insurance

Basic Life Insurance benefit enhanced, rates for Additional Life, AD&D Insurance, and Dependent Life for January 1, 2024 through December 31, 2024. This page includes information for ALL employees including Food Services C-Schedule.

Overview

Employee Basic Life Insurance

  • $30,000 coverage paid by APS. All benefits-eligible employees are automatically enrolled. 

Employee Additional Life Insurance

  • Plan 2: $10,000 increments from $10,000 up to $400,000
  • 50% shared premium between employee and APS

Dependents Life Insurance - Spouse/DP 

  • Plan 1: $5,000 of coverage 
  • Plan 2: $10,000 increments from $10,000 up to $400,000 (must select Plan 1 to enroll in Plan 2)
  • 100% of the premium paid by the employee

Dependents Life Insurance - Children 

  • Plan 1: $5,000 of coverage per child enrolled
  • Plan 2: $10,000 of coverage per child enrolled (must select Plan 1 to enroll in Plan 2)
  • 100% of the premium paid by the employee

Employee Basic Life Insurance

Effective January 1, 2024, the amount of Basic Life Insurance for benefit-eligible employees will increase from $10,000 to $30,000 in coverage. This benefit is completely paid for by APS through our contract with The Standard Insurance Company.

The Standard Life and AD&D Insurance

All benefits-eligible employees are eligible to enroll during their initial 60-day eligibility enrollment window or within 60 days of an eligible qualifying life event for Spouse/DP or Children, with guaranteed enrollment (no Evidence of Insurability required, except for Spouse/DP additional life enrollment greater than $30,000)

Beyond a 60-day eligibility enrollment window, eligible employees may apply at any time during the year for Employee Additional Life Insurance and Dependent Life Insurance for Spouse/DP (subject to Evidence of Insurability) except from September 20 to October 31. Dependent Life Insurance for Children may be added only during APS Annual Open Enrollment for a January 1 effective date. (The employee must already be enrolled or simultaneously enrolling, if eligible, in Employee Additional Life Insurance to enroll dependents.) Children are not subject to Evidence of Insurability. 

Coverage is available in increments of $10,000 from $10,000 up to $400,000. Scroll below for the Dependent Life Insurance Options.

2024 Employee Additional Life & AD&D Rates

Age Bands

Bi-Monthly Employees/24 paychecks per year

Rates per $1,000 Coverage

Food Services C-Schedule/18 paychecks per year

Rates per $1,000 Coverage

<30 $0.0330 $0.0440
30-34 $0.0445 $0.0593
35-39 $0.0510 $0.0680
40-44 $0.0595 $0.0793
45-49 $0.0845 $0.1127
50-54 $0.1240 $0.1653
55-59 $0.2195 $0.2927
60-64 $0.3360 $0.4480
65-69 $0.6320 $0.8427
70+ $1.0205 $1.3607

How to Calculate Rates

To calculate your per pay period payroll deduction, follow these steps: 

  1. Enter the amount of coverage
  2. Divide by 1,000 (for the number of units of $1,000)
  3. Multiply by the rate for the Employee's age group to get the twice-a-month payroll deduction Employee Life Insurance total premium.
  4. Multiply the total premium by the employee cost share of 50%
EXAMPLE: Bi-Monthly Employee, $100,000 Coverage, Age 46 
  1. Calculate the Units: $100,000 (Amount of Coverage) divided by $1,000 = 100 Units.
  2. Calculate the Premium: 100 Units x $0.0845 (Rate for Age Band 45-49/bi-monthly employee) = $8.45
  3. Calculate the Employee Cost Share: $8.45 x 50% = $4.23 twice-a-month.

EXAMPLE: Food Services C-Schedule, $100,000 coverage, Age 46

  1. Calculate the Units: $100,000 (Amount of Coverage) divided by $1,000 = 100 Units.
  2. Calculate the Premium: 100 Units x $0.1127 (Rate for Age Band 45-49/Food Services C-Schedule) = $11.27
  3. Calculate the Employee Cost Share: $11.27 x 50% = $5.64 twice-a-month. 

Determine Life Insurance Coverage For Your Spouse/DP and Children

Accidental Death and Dismemberment Insurance (AD&D) coverage is not available for spouses and children.  

Dependent Life Plan 1: Spouse/DP and Children

Provides coverage for your enrolled Spouse/DP and/or Children in the amount of $5,000 each. Employees may enroll their dependent (s) in this benefit during the initial 60-day enrollment window. After the 60-day enrollment window, the employee must already be enrolled in Additional Life Insurance to add this benefit.  

  • Bi-Monthly Employee rate is $0.53 twice-a-month. 
  • Food Service C-Schedule rate is $0.70 twice-a-month.

Dependent Life Plan 2: Children (An employee must be enrolled in Employee Additional Life Insurance to add this benefit.) 

Provides coverage for your enrolled Child(ren) in the amount of $10,000 each. 

  • Bi-Monthly Employee rate is $0.95 twice-a-month.
  • Food Service C-Schedule rate is $1.27 twice-a-month.

Dependent Life Plan 2: Spouse/DP (An employee must be enrolled in Employee Additional Life Insurance to add this benefit.) 

Coverage is available in increments of $10,000 from $10,000 up to $400,000, equal to or less than the employee's Additional Life Insurance amount. 

2024 Spouse/DP Additional Life Insurance Rates

Age Bands

Bi-Monthly Employee/24 paychecks per year

Rates per $1,000 Coverage

Food Service C-Schedule/18 paychecks per year

Rates per $1,000 coverage

<30 $0.0230 $0.0307
30-34 $0.0345 $0.0460
35-39 $0.0410 $0.0547
40-44 $0.0495 $0.0660
45-49 $0.0745 $0.0993
50-54 $0.1140 $0.1520
55-59 $0.2095 $0.2793
60-64 $0.3260 $0.4347
65-69 $0.6220 $0.8293
70+ $1.0105 $1.3473

How to Calculate Rates

To calculate your Dependent Life twice-a-month deduction for a spouse/DP, follow these steps: 

  1. Enter the amount of coverage.
  2. Divide by 1,000 (for the number of units of $1,000)
  3. Multiply by the rate for the Spouse/DP's age group to get the Dependent Life Insurance total twice-a-month payroll deduction.
EXAMPLE: Bi-Monthly Employee, $100,000 Coverage for Spouse/DP, Age 37 
  1. Calculate the Units: $100,000 (Amount of Coverage) divided by $1,000 = 100 Units.
  2. Calculate the Premium: 100 Units x $0.0410 (Rate for the Dependent Life Plan 2, Ages 35-39) = $4.10 twice-a-month.

EXAMPLE: Food Services C-Schedule, $100,000 Coverage for Spouse/DP, Age 37

  1. Calculate the Units: $100,000 (Amount of Coverage) divided by $1,000 = 100 Units.
  2. Calculate the Premium: 100 Units x $0.0547 (Rate for the Food Services C-Schedule Dependent Life Plan 2, Ages 35-39) = $5.47 twice-a-month.