Voluntary Life Insurance

VOLUNTARY LIFE and AD&D INSURANCE  – VOYA FINANCIAL

In addition to the County provided life insurance, employees may purchase additional life and AD&D coverage for themselves, their spouse and/or dependent children.

New hires and newly eligible (such as part-time to full-time):  Full-time employees can elect up to 3x their annual salary up to a maximum of $250,000; up to $50,000 for their spouse and/or $20,000 for their eligible* children.   Note: coverage for spouse and/or children cannot be more than the employee’s own coverage.

*Dependent children: Up to age 26

OPEN ENROLLMENT

  1. Enrolled employees can increase their own coverage by up to $20,000 during open enrollment without submitting an EOI (medical information).
  2. Maximum allowed is 5x annual salary but not more than $250,000 for employees.
  3. Existing coverage for a spouse can be increased by $10,000 but not more than $50,000 without an approved EOI. Cannot be more than employee’s own coverage.
  4. Spouse maximum is $100,000 with approved EOI
  5. Child life is available in $5,000 increments up to a maximum of $20,000; one policy covers all eligible children.

IMPORTANT:  ENTER THE AMOUNT OF COVERAGE INTO ESS/BENEFIT ELECTIONS (NOT THE PAYROLL DEDUCTIONS)THE SYSTEM WILL CALCULATE YOUR PREMIUM BASED ON YOUR AGE.  The attached chart is just for reference:  VolLifeRates

Coverage includes:

  • An ‘accelerated payment’ option for employees who are diagnosed as terminally ill – this allows the employee to claim up to 50% of the coverage amount while still living.
  • Waiver of premium – in the event you become permanently disabled, you can apply to have your life insurance premiums automatically paid for you.
  • An educational benefit for surviving dependent children who are enrolled in college.

What is AD&D Insurance?  AD&D stands for Accidental Death & Dismemberment. AD&D coverage provides added protection against losses due to a non-work related accident.  Benefits vary depending upon the type of injury sustained.

NOTE: You may be able to Continue Your Coverage after your employment with Clermont County ends, by ‘porting’ your voluntary life coverage and/or ‘converting’ your county paid coverage.