Life and AD&D Insurance

It’s important to plan for your family’s financial security in case the unexpected happens. That’s why IOTA Community Schools Public Schools provides full-time regular employees with basic life insurance and basic AD&D insurance — at no cost to you.

During Annual Open Enrollment, you also have the option to buy voluntary life and/or supplemental AD&D insurance through Lincoln Financial (first-time users register with code: IOTASchools) for yourself and your family through easy payroll deductions.

Basic Life and AD&D

Coverage is automatic; the company pays

IOTA Community Schools provides full-time regular employees with basic life and AD&D insurance at no cost to you. Basic life coverage is equal to one times your annual earnings, up to a maximum of $200,000. If you become dismembered or lose any senses as the result of an accident, you will receive all or a portion of the full benefit based on the loss suffered.

 

Voluntary Life and AD&D

You must enroll; you pay for coverage through before-tax payroll deductions

Full-time regular employees can supplement the basic insurance provided by IOTA Community Schools by purchasing additional insurance for yourself and your dependents.

Voluntary Life and AD&D Coverage Options
For you

Voluntary Life: Choose coverage amount of up to $500,000, or five times your annual covered salary, whichever is less, in $10,000 increments. Coverage over $150,000 requires you to provide Evidence of Insurability (EOI).

Voluntary AD&D: Choose coverage amount of up to $500,000, in $10,000 increments.
For your spouse/ domestic partner
 Choose coverage amount of up to $250,000 in $5,000 increments (not to exceed 50% of employee’s elected amount). Coverage over $20,000 requires EOI.
For your child(ren)
 Choose coverage amount of: $10,000 – age 6 months to 26 years, no EOI required; $1,000 – under age 6 months, no EOI required
Note: At age 65, your coverage and your spouse’s/domestic partner’s coverage will decrease to 65% of the benefit amount. At age 70, it will decrease to 50% of the benefit amount.

EOI Instructions

Employee Voluntary Life Monthly Contributions
Employee Age Cost per $10,000 of coverage
Under 25 $0.58
25-29 $0.70
30-34 $0.93
35-39 $1.04
40-44 $1.16
45-49 $1.74
50-54 $4.99
55-59 $5.27
60-64 $7.65
65-69 $14.73
70+ $23.89
Spouse/Domestic Partner Voluntary Life
$0.49 per $5,000 of coverage
Child(ren) Voluntary Life
$0.98 for $10,000
 Live birth – up to age 26 are limited to $1,000 of coverage.
Employee Voluntary AD&D
$0.28 per $10,000 of coverage