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Special Enrollment for Voluntary
Additional Life Insurance

During this open enrollment period, you are eligible to apply for Voluntary Additional Life Insurance coverage for yourself and/or your spouse or domestic partner without having to provide any medical history information.  This coverage would supplement the Basic Life insurance the Port provides which equals two times your annual salary.  You would be responsible for the premium which would be deducted from your paycheck.  The premiums are listed below and your premium would be based on your age for both you and/or your spouse or domestic partner.  For example, if you are 42 years of age and want a $50,000 policy, your cost would be $9.50 per month (50 x $0.19). Additional coverage is not available for children.

Applying for guaranteed coverage only

If you apply by December 1, 2017, you are guaranteed to receive a $50,000 policy for yourself and a $10,000 policy for your spouse/partner, if application is made for this person.  The cost is shown below. To apply use the Standard Insurance Company Enrollment and Change form:

Applying for coverage greater than the guaranteed coverage amount              

You can apply for coverage for yourself and/or spouse or domestic partner in the amounts shown below at the applicable rates. Additional coverage is not available for children. If you are not approved for the amount you requested, you are guaranteed to receive a $50,000 policy for yourself and a $10,000 policy for your spouse/partner, if application is made for this person.

To apply, complete the Standard Insurance Medical History Statement.

You will be notified in 4 to 6 weeks by Standard Insurance whether you were approved for the amount of coverage that exceeds the guaranteed amount. 

 

​Applicant ​Coverage Amounts ​ ​ ​
Employee​ ​1x annual salary ​2x annual salary ​--- ​---
Spouse/Partner* ​0.5x your annual salary ​1x your annual salary ​1.5x your annual salary ​2x your annual salary

 *Spouse/partner coverage amount cannot exceed 50% of your combined Basic LIfe and Voluntary Additional Life Insurance

 

​Age equal to or greater than Cost per $1,000 of coverage
​1 ​$ 0.07
​25 ​$ 0.07
​30 ​$ 0.08
​35 $ ​0.12
​40 $ ​0.19
​45 ​$ 0.34
​50 $ ​0.56
​55 $ ​0.89
​60 ​$ 1.32
​65 ​$ 1.91
​70 ​$ 2.72
​75 ​$ 4.23