2017_Basic_Life_Rates___Unum.pdf
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- Solicitation number
- PE-62960-NONST-2026-000000111
- Issued by
- Clayton County, Georgia
About this file
This is a Rate Amendment document for a group life insurance and accidental death and dismemberment (AD&D) insurance policy issued by Unum to the Unified Government of Athens-Clarke County under Group Identification No. 951718 001. The amendment, effective July 1, 2015, establishes initial premium rates for basic life insurance, contributory life insurance, and AD&D coverage for full-time employees, retirees, and dependents (spouses and children) within a closed group of employees as defined by Unum and the employer. The document specifies multiple coverage options for dependent life insurance, including options with no coverage and tiered benefit levels at varying monthly rates.
Premium rates are established on a per-$1,000 basis for employees and AD&D coverage, with specific rates for retirees and dependent coverage varying by benefit amount and family member type. Employee basic life insurance is rated at $0.115 per $1,000 monthly, contributory life at $0.251 per $1,000 monthly, and AD&D coverage at $0.02 to $0.03 per $1,000 monthly depending on plan type. Spouse coverage options range from $1.39 to $4.59 monthly depending on selected benefit amounts, while child coverage is offered at $0.54 to $1.65 per child per unit monthly. Rate adjustments are guaranteed not to take effect before July 1, 2018, unless plan design changes, workforce changes exceed 25 percent, divisions or subsidiaries are added or deleted, or regulatory changes occur. Premiums are due on July 1, 2015, and the first of each subsequent calendar month, payable to Unum in United States dollars.
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Text version
C.AMEND-1 RATE AMEND-1 (7/1/2015)
RATE INFORMATION AMENDMENT
This amendment forms a part of Group Identification No. 951718 001 issued to the Employer/Applicant:
Unified Government of Athens-Clarke County
WHAT IS THE COST OF THIS INSURANCE?
The initial premium for each plan is based on the initial rate(s) shown below.
LIFE INSURANCE
INITIAL RATE
Premium payments are required for an insured while he or she is disabled under this plan.
Employee:
Basic Life Benefit:
All Full-Time employees, Closed Group of Employees on file with Unum and the Employer, Commissioners, Mayor as of July 1, 2015 (Closed Group) Monthly Rate of: $ .115 per $1,000 of life insurance benefit.
Contributory Life Benefits:
All Full-Time Employees, Closed Group of Employees on file with Unum and the Employer, Commissioners, Mayor as of July 1, 2015 (Closed Group) Monthly Rate of: $ .251 per $1,000 of life insurance benefit.
Retired Employees:
Retirees Monthly Rate of: $ 13.00 per $10,000 of life insurance benefit.
Dependent:
Spouse:
All Full-Time Employees, Closed Group of Employees on file with Unum and the Employer, Commissioners, Mayor as of July 1, 2015 (Closed Group)
OPTION A
No Coverage
OPTION B
Monthly Rate of: $ 1.39 per $15,000 of life insurance benefit.
OPTION C
Monthly Rate of: $ 2.30 per $25,000 of life insurance benefit.
RATE AMEND-2 (7/1/2015)
OPTION D
Monthly Rate of: $ 4.59 per $50,000 of life insurance benefit.
Retirees Monthly Rate of: $ 2.00 per $1,000 of life insurance benefit.
Children:
The total dependent life amount for which a child is insured under this plan is subject to the maximum benefit available at certain ages.
All Full-Time Employees, Closed Group of Employees on file with Unum and the Employer, Commissioners, Mayor as of July 1, 2015 (Closed Group)
OPTION A
No Coverage
OPTION B
Per Child Unit: Monthly Rate of: $ .54 per $5,000 of life insurance benefit.
OPTION C
Per Child Unit: Monthly Rate of: $ 1.11 per $10,000 of life insurance benefit.
OPTION D
Per Child Unit: Monthly Rate of: $ 1.65 per $15,000 of life insurance benefit.
RATE GUARANTEE AND RATE CHANGES
A change in premium rate will not take effect before July 1, 2018. However, Unum may change premium rates at any time for reasons which affect the risk assumed, including those reasons shown below:
- a change occurs in this plan design;
- a division, subsidiary, or affiliated company is added or deleted;
- the number of insureds changes by 25% or more; or
- a change in federal or state law, regulation or regulatory process that substantially impacts the policy, the benefits payable or the risk insured.
Unum will notify the Employer in writing at least 60 days before a premium rate is changed. A change may take effect on an earlier date when both Unum and the Employer agree.
RATE AMEND-3 (7/1/2015)
ACCIDENTAL DEATH AND DISMEMBERMENT
INSURANCE
INITIAL RATE
Employee:
Basic AD&D Benefit:
Monthly Rate of: $ .02 per $1,000 of accidental death and dismemberment insurance benefit.
Contributory AD&D Benefits:
Monthly Rate of: $ .03 per $1,000 of accidental death and dismemberment insurance benefit.
RATE GUARANTEE AND RATE CHANGES
A change in premium rate will not take effect before July 1, 2018. However, Unum may change premium rates at any time for reasons which affect the risk assumed, including those reasons shown below:
- a change occurs in this plan design;
- a division, subsidiary, or affiliated company is added or deleted;
- the number of insureds changes by 25% or more; or
- a change in federal or state law, regulation or regulatory process that substantially impacts the policy, the benefits payable or the risk insured.
Unum will notify the Employer in writing at least 60 days before a premium rate is changed. A change may take effect on an earlier date when both Unum and the Employer agree.
WHEN IS PREMIUM DUE FOR THIS SUMMARY OF BENEFITS?
Premium Due Dates: July 1, 2015 and the first day of each calendar month thereafter.
The Employer must send all premiums to Unum on or before their respective due date. The premium must be paid in United States dollars.
The effective date of this amendment is July 1, 2015.
Dated at Portland, Maine on July 21, 2015.
File details come from the government source that posted it. Updated .