Life Insurance

What is Term Life Insurance?

Term Life Insurance is a policy that pays a benefit for a particular term. For the City, the term is employment. Coverage is effective the first of the month following a minimum 30 day waiting period from your hire date. However, if you decline voluntary life insurance as a new hire and request it at a later date during Open Enrollment, your updated enrollment form is due by the Open Enrollment deadline and your new plan will take effect on January 1st of the following calendar year.

The City has two types of Term Life Insurance—a City paid group policy which covers all full-time employees and an "Optional Additional Term Life Insurance" policy, which is paid by the employee. Since the City's term is based on employment with the City, both types of term insurance plans will be automatically cancelled on your separation or retirement date unless you contact Lincoln Financial prior to their deadline to port your life insurance policy.

Lincoln Summary
Voluntary Life Insurance Options
Online Employee Access Flyer

Lincoln Life Insurance - City Paid

All full-time employees are provided with a City-paid basic life insurance policy. Coverage is equal to one year of annual base salary, rounded up to the nearest thousand ($1,000) dollars, up to a maximum of $300,000 with the exception of Police Officer's Association members, who receive coverage equal to one and a half times their annual base salary, rounded up to the nearest thousand ($1,000) dollars up to a $350,000 maximum.

The policy also has an Accidental Death and Dismemberment (AD&D) provision that provides a benefit equal to the amount of the basic life insurance, should the insured die accidentally. However, the AD&D provision is subject to certain exclusions and limitations.

To calculate your City Paid Life Policy, take your base monthly salary, multiply by 12 and round to the nearest thousand dollars. For example, if your gross base salary is $3,295 you will do the calculation below:

• $3,295 x 12 = $39,540 rounded to nearest thousand means your policy coverage is $40,000.

Lincoln Life Insurance - Employee Paid (optional)

You may choose to pay for additional life insurance coverage for yourself, your spouse/domestic partner and/or children. Premium payments are deducted bi-weekly via payroll. Below is a chart of the cost per $1,000 of additional coverage. Premiums are based on your age and the amount of coverage you elect.

Available Coverage Amounts

• Employee - You may elect in multiples of $10,000 up to $500,000 coverage for yourself; however, the policy amount cannot exceed 5x your annual salary.
• Spouse/Domestic Partner - You may elect up to 50% of your annual coverage for your spouse, in multiples of $5,000.
• Children - You may elect $10,000 of coverage for your children.
  • Eligible children must be under 21 years of age and unmarried, or under age 25 if maintaining full-time student status.

If you choose to purchase additional term life insurance, you must complete both the application and online health questionnaire (which is called "Evidence of Insurability") unless otherwise stated below. Completed applications must be submitted to Giovanni Sanchez in Human Resources for processing prior to the end of Open Enrollment.

NOTE: If you fail to submit the online EOI timely, your application will be placed in a withdrawn status and your requested changes will not be processed. Also, if you are purchasing a policy for your spouse as well, you must have your spouse complete a separate health questionnaire form.

If your previous applications have not been rejected by Lincoln and you have not been placed in a "withdrawn" status, you are eligible for the "continuing employee guaranteed coverage annual increase amount" each year during Open Enrollment. This means you have the choice to increase your current additional life insurance amount by $10,000 or $20,000 each year without needing to complete the health questionnaire. However, you will still need to complete and submit the application provided below. If your spouse has additional life insurance through Lincoln, their coverage may also be increased each year during Open Enrollment by $5,000 or $10,000 without completion of the health questionnaire. Please review details about this option by clicking the link to the "Limited Open Enrollment Increases" flyer at the top of this page.

• Application
• Online Evidence of Insurability link: https://mylincolnportal.com/ (NOTE: Paper EOI forms are no longer accepted.)
• Beneficiary Change

If you terminate your employment or become ineligible for coverage, you have the option to convert all or part of the amount of coverage to an individual life policy on the date of termination without completing a new Evidence of Insurability. Conversion election must be made within 31 days of your date of termination.