The Navigators Life Insurance
Life insurance provides important financial protection for you and your family. It provides your named beneficiary(ies) with a benefit in the event you should pass away (or provides you a benefit for the loss of a covered dependent). Two plans are offered:
- Basic Life Insurance: Employer-paid benefit provided for the employee, spouse and children
- Supplemental Life and Accidental Death and Dismemberment (AD&D) Insurance: Employee-paid buy-up options for employee and spouse
**Retiring soon or dropping your hour below benefits eligible? You might be eligible to port or convert your current life insurance with The Navigators. Find out more here.
Basic Life Insurance
| Basic Life Insurance Benefit (Employer-Paid) | |
| Employee* | 1.5 times your annual earnings, rounded to the next highest multiple of $1,000 ($200,000 maximum benefit; $20,000 minimum benefit) |
| Spouse* | 50% of your coverage amount, up to a maximum of $50,000 |
| Child(ren) | $10,000 per child (includes dependent child(ren) from birth to age 26) |
*The basic life insurance coverage for both employee and spouse is reduced by 65% when an employee turns 65, and again by 50% at age 70. (Reductions are based off your salary when you are 65).
Supplemental Life Insurance
If you need more than the employer-paid basic life insurance amounts, you can purchase additional coverage for yourself and your spouse. This plan includes an accidental death and dismemberment (AD&D) benefit that provides an extra layer of protection if you pass away or become dismembered in an accident. AD&D is automatically included with your supplemental life election with a matching benefit level.
| Supplemental Life and AD&D Insurance Benefit Options (Employee-Paid) | |
| Employee* | Available in $10,000 increments up to $250,000 or five times your annual earnings (whichever is less) Guaranteed Issue: $150,000** |
| Spouse* | If the employee elects supplemental coverage, spouse may elect in increments of $10,000 up to $250,000, not to exceed 100% of employee coverage amount Guaranteed Issue: $50,000** |
| Child(ren) | Coverage not available |
*The supplemental life/AD&D insurance coverage for both employee and spouse is reduced by 35% when an employee turns 65, and again by 50% at age 70. This change occurs automatically, and your premiums will be adjusted on the first of the month following your birthday to reflect the new coverage amount.
**Guaranteed Issue Coverage: If you enroll within 31 days of first becoming eligible, you can elect coverage up to the Guaranteed Issue (GI) amounts listed above without medical underwriting approval. Evidence of Insurability (EOI) and medical underwriting are required in the circumstances below, and coverage would be subject to approval.
- If you waive coverage when first eligible and decide to enroll later for any amount of coverage
- If you elect coverage in excess of the Guaranteed Issue amounts
- If you choose to increase your coverage at a later date
When needed, you can complete EOI online at www.standard.com/mhs (enter policy # 649404).
| Supplemental Life and AD&D (cost per $1,000 of coverage) | |||
| Age | Employee | Spouse | |
| Tobacco Use | Non-Tobacco Use | ||
| AD&D Rate (all ages): | $0.04 | $0.04 | $0.04 |
| Life Rate: Up to 24 | $0.126 | $0.066 | $0.077 |
| 25-29 | $0.126 | $0.078 | $0.077 |
| 30-34 | $0.102 | $0.090 | $0.091 |
| 35-39 | $0.222 | $0.102 | $0.105 |
| 40-44 | $0.342 | $0.150 | $0.119 |
| 45-49 | $0.558 | $0.258 | $0.175 |
| 50-54 | $0.882 | $0.414 | $0.301 |
| 55-59 | $1.422 | $0.678 | $0.483 |
| 60-64 | $2.022 | $1.002 | $0.791 |
| 65-69 | $2.886 | $1.470 | $1.169 |
| 70-74 | $4.326 | $2.430 | $1.715 |
| 75-79 | $6.174 | $3.630 | $2.835 |
Life Insurance Resources
Plan Documents
Group Basic Life Insurance Summary
Supplemental Life/AD&D Insurance Summary
Convert or Port Your Life Insurance
Retiring soon or dropping your hour below benefits eligible? You might be eligible to port or convert your current life insurance with The Navigators. Find out more here.
Customer Service & Member Website
