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Life Insurance
People and Culture Employee Resources Benefits Benefits Offered
Benefits-eligible employees qualify for life insurance beginning on their first day of employment. Bethel's life insurance provider is Voya Insurance.
Basic life insurance, which provides coverage equal to one times the employee's annual salary, is 100% paid by Bethel.
Employees may also elect additional life insurance at their own expense, with rates based on age. During the initial enrollment period, employees can elect up to $200,000 in additional coverage without providing evidence of insurability. Coverage is available in increments of 0.5 to 3.0 times basic annual earnings, rounded to the next $1,000, with a maximum of $500,000 in increments of 0.5 times basic annual earnings.
Spouse coverage for additional life insurance is available in increments of $5,000, ranging from $5,000 to $250,000. During the initial enrollment period, up to $50,000 in spouse coverage can be elected without providing evidence of insurability. Spouse coverage cannot exceed 100% of the employee's approved supplemental life insurance amount.
For children, additional life insurance is available in increments of $2,000, up to a maximum of $10,000. No evidence of insurability is required for any amount within the plan maximum.
Both basic and additional life insurance include accidental death and dismemberment (AD&D) coverage for employees. Additional AD&D coverage can also be purchased or adjusted during open enrollment. The cost for coverage is $0.30 per $10,000 for employee-only coverage and $0.49 per $10,000 for family coverage.
Monthly supplemental life insurance premiums for 2025
|
Age (as of January 1) |
Employee or spouse rate* (per $1,000 of coverage) |
|
Under 25 |
$0.05 |
|
25 - 29 |
$0.06 |
|
30 - 34 |
$0.08 |
|
35 - 39 |
$0.09 |
|
40 - 44 |
$0.13 |
|
45 - 49 |
$0.18 |
|
50 - 54 |
$0.28 |
|
55 - 59 |
$0.52 |
|
60 - 64 |
$0.715 |
|
65 - 69 |
$1.27 |
|
Over 70 |
$2.67 |
*Please note that life insurance rates are determined by your age.
The monthly rate for additional life insurance for children is $0.20 per $1,000 of coverage.