15-P-031 Optional Group Life Insurance and Spousal Life Insurance Rate Changes (April 27, 2015)
Posted on October 21, 2021 at 12:50 PM by Kansas Department of Administration
| Informational Circular No. | 15-p-031 | |
| Supersedes Informational Circular No: | 11-P-014 | |
| Effective Date: | June 1, 2015 | |
| Contact Name: | Ph: | Email: |
| Approval: | Nancy Ruoff (Original Signature on File) | |
| Summary: | ||
Please note that effective June 1, 2015 the Optional Group Life Insurance rates are changing as follows:
Age at the Beginning Monthly Premium
of June 2015 per $1,000
Under 25 $0.04
25-29 $0.04
30-34 $0.06
35-39 $0.07
40-44 $0.08
45-49 $0.12
50-54 $0.17
55-59 $0.32
60-64 $0.51
65-69 $0.95
70-74 $1.54
75 and Older $1.67
An administrative fee of $0.20 per month will continue to be added to the premium each month. Maximum coverage available is $300,000.00. The age calculation will continue to be based on the employee’s attained age as of January 1st of the current calendar year.
Effective June 1, 2015 the Spousal Group Life Insurance rates are changing as follows:
Age at the Beginning Monthly Premium
of June 2015 per $1,000
Under 25 $0.09
25-29 $0.09
30-34 $0.13
35-39 $0.14
40-44 $0.16
45-49 $0.23
50-54 $0.34
55-59 $0.65
60-64 $0.99
65-69 $1.91
70-74 $3.08
75 and Older $3.33
The Department of Administration, Payroll Services Team will ensure the updates are made to the SHARP payroll system to effect this change for all employees from whom SHARP calculates pay. Regent's institutions are responsible for ensuring that this change is made in their respective systems prior to June 1, 2015.
Printable version of 15-P-031
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