Benefits » Other Insurance » Premiums Paid by Employee

2009 LANL Semi-Monthly Insurance Premiums

2009 LANL Semi-Monthly Insurance Premiums (shown premium rates paid by the employee)
Basic Life Insurance	Dependent Life Insurance
	Premium Rate		Premium Rate
Core Life Insurance (paid 100% by employer)	$0.0340	Same rate all ages	Flat Premium $2.45/month
Career	$0.0340
Senior Management Plan	$0.0340

SUPPLEMENTAL LIFE PREMIUM CALCULATION
Directions	Example
	Employee is 50 years old, makes $102850, wants 5x his salary for Supplemental Life coverage.

Take your annual salary, round up to the nearest thousand, and multiple by the level of coverage you want (i.e. 1 x your salary, 2 x your salary, etc)	$103000x 5 (coverage at 5x's your salary) equals: $515,000

Divide the coverage amount result by 1000	$515,000 divided by 1000 equals: $515

Multiply the result by your age factor (see rate table) to get your semi-monthly premium rate factor	$515 multiplied by .0825 equals: $42.48 -This the amount that will be deducted semi-monthly from your paycheck

Supplemental Life Insurance
Years of Age	Premium Rate	Years of Age	Premium Rate
<25	$0.0110	50 - 54	$0.0825
25 - 29	$0.0100	55 - 59	$0.1360
30 - 34	$0.0120	60 - 64	$0.1990
35 - 39	$0.0180	65 - 69	$0.2860
40 - 44	$0.0290	70 - 74	$0.5045
45 - 49	$0.0435	75+	$0.8440

EXPANDED DEPENDENT LIFE PREMIUM CALCULATION Spouse / Domestic Partner
Directions	Example
	The employee has $500,000 of supplemental life insurance coverage. The dependent is 50 years of age.

Take the employee's amount of supplemental life coverage and divide by a factor of two. The result cannot exceed $200,000 of coverage. If the result is greater, use maximum of $200,000.	$500,000 / 2 equals: $250,000 maximum allowable coverage for dependent: $200,000

Divide the coverage amount result by 1000	$200,000 / 1000 equals: $200

Take the result and multiply it by the age rate for the dependent.	$200 x .273

Result is your semi-monthly rate	$54.60

Expanded Life Insurance (spouse and family)
Years of Age	Premium Rate	Years of Age	Premium Rate
<30	$0.0170	55 - 59	$0.1360
30 - 34	$0.0170	60 - 64	$0.2230
35 - 39	$0.0200	65 - 69	$0.3250
40 - 44	$0.0295	70 - 74	$0.4705
45 - 49	$0.0475	75+	$0.8295
50 - 54	$0.0775	Child	$0.0190

SUPPLEMENTAL DISABILITY PREMIUM CALCULATION
Directions	Example
	Employee is 50 years old, makes $8,500 gross monthly, and wants a 30-day waiting period for Supplemental Disability STD and LTD coverage.

Take your gross monthly salary, and multiply by the rate for your age and waiting period.	$8500 x $.002980 equals: $25.33

Result is your semi-monthly rate	$25.33

Supplemental Disability STD and LTD (7-Day Waiting Period)
Years of Age	Premium rate	Years of age	Premium rate
<35	$0.000895	55 - 59	$0.007080
35 - 39	$0.00144	60 - 64	$0.009605
40 - 44	$0.002575	65 - 69	$0.011205
45 - 49	$0.00417	70+	$0.011205
50 - 54	$0.00558
Supplemental Disability STD and LTD (30-Day Waiting Period)
Years of Age	Premium Rate	Years of Age	Premium Rate
<35	$0.000425	55 - 59	$0.003695
35 - 39	$0.000670	60 - 64	$0.005140
40 - 44	$0.001225	65 - 69	$0.006015
45 - 49	$0.002085	70+	$0.006015
50 - 54	$0.002980
Supplemental Disability STD and LTD (90-Day Waiting Period)
Years of Age	Premium Rate	Years of Age	Premium Rate
<35	$0.000355	55 - 59	$0.003660
35 - 39	$0.000550	60 - 64	$0.004535
40 - 44	$0.001015	65 - 69	$0.005140
45 - 49	$0.001840	70+	$0.005140
50 - 54	$0.002660
Supplemental Disability STD and LTD (180-Day Waiting Period)
Years of Age	Premium Rate	Years of Age	Premium Rate
<35	$0.000280	55 - 59	$0.002660
35 - 39	$0.000425	60 - 64	$0.003580
40 - 44	$0.000795	65 - 69	$0.004055
45 - 49	$0.001415	70+	$0.004055
50 - 54	$0.002090