Dearborn National Life Insurance
Group Number: GAE00255
Customer Service Telephone: 1-800-778-2281
Customer Service Hours: Mon - Fri, 7 a.m. - 7 p.m. CST
- Dearborn Voluntary Term Life and AD&D Insurance Employee Benefit Booklet
- Dearborn Term Life and AD&D Insurance Employee Benefit Booklet
- Dearborn Voluntary Supplemental Term Life and AD&D Insurance Employee Benefit Booklet
The City provides $15,000 in basic life insurance and an additional $5,000 in Accidental Death and Dismemberment Insurance at no cost to the employee.
Optional Supplemental Life
You may purchase an additional $5,500 of supplemental term life insurance.
Voluntary Supplemental Life
If you purchase the optional supplemental life coverage, you may also purchase voluntary supplemental life coverage at 1/2x, 1x, 2x, or 3x your annual base salary. Life insurance will be rounded to the nearest $1,000, if not already a multiple thereof. Note: Maximum coverage for basic, optional, and voluntary life insurance combined is $500,000.
Dependent Life Insurance Coverage
You may purchase Voluntary Dependent Life insurance for a qualified dependent spouse and/or child(ren) as follows:
Spouse: Spouse coverage may be elected for one of the following amounts: $10,000, $20,000, $40,000, $60,000, $80,000, or $100,000.
Child(ren): Age live birth to 6 months - $100. 6 months to 23 years - Child coverage may be elected for one of the following amounts: $2,500, $5,000, $7,500, $10,000.
Coverage is available for eligible dependents of active, full time employees; required documentation must be on file with the Employee Benefits Division of the Personnel Department.
Accidental Death and Dismemberment Coverage
The City provides $1,000 of AD&D coverage for each full-time employee. Employees may purchase an additional $5,000 of AD&D coverage. AD&D coverage provides benefits for an accidental death, and for an accidental dismemberment, as defined in the schedule of benefits.
Coverage amounts will reduce according to the following schedule:
Age 65 - 65% of the original amount
Age 70 - 40% of the original amount
Age 75 - 25% of the original amount
Coverage may not be increased after a reduction.
Portability and Conversion
At the time an employee leaves the city or otherwise becomes ineligible for City benefits, that employee may be eligible for portability or conversion of their life insurance.
Converts life insurance into a whole life policy which can generate cash value after being in force for a number of years.
Conversion locks you into a specific rate, based on your age at the time you convert. The younger you are at the time of conversion, the lower your rate.
Conversion amounts do not contain age reductions for the insurance coverage you convert.
You may convert all or part of your basic (employer paid) life insurance.
You may convert all or part of your voluntary (employee paid) life insurance.
Spouse coverage can be converted.
There is no cash value associated with a ported policy of coverage. The policy continues to be a term life policy.
Portability rates change (rise) as you age, in five year increments. For example, age 45-49, age 50-54, etc.
Portability amounts do not contain age reductions for insurance coverage you port.
You may NOT port your basic coverage.
You may port all or part of your voluntary life insurance.
Spouse coverage can be ported.
ResourcesAmerican Fidelity Assurance Company
7 a.m. to 7 p.m., Monday to Friday
American Fidelity offers an Individual Term Life Insurance policy to help
with your financial needs for your short-term and long-term goals.
How the Plan Works
Individual Term Life Insurance is a death benefit protection with no cash
accumulation feature. The policy is initially written for a 10, 20 or 30-year
term period but may be renewed at the insured’s option for the same
level renewal period depending upon the term chosen.
The last level renewal period is no later than age 70 for the 10-year term
policy and age 60 for the 20-year term policy. Thereafter, premiums are
renewable annually up to age 90. The 30-year term policy is renewable
annually after the initial 30-year term period up to age 90. Renewal rates
will be based on the insured’s age at the time of renewal.
Enhance your base plan with the following riders:
• Spouse Term Rider
• Children’s Term Rider