VOLUNTARY LIFE/AD&D
THIS ENROLLMENT PAGE IS FOR EMPLOYEES WHO
WISH TO PURCHASE SUPPLEMENTAL LIFE/AD&D
- In addition to the employer-paid Basic Life/AD&D -
First things first...
Do I need to complete a health statement?
READ through four scenarios to determine if you are required
to complete a health statement - Evidence of Insurability (EOI):
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You were hired after 9/15/25, it’s your first open enrollment period ( with 1/01/26 effective date), you may elect the Guaranteed Issue Amount of 150K - NO EOI Required
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You already have 150k of Voluntary Life benefit, at open enrollment period (1/01/26 effective date) you may elect an additional 20k, and you will now have 170k benefit, - NO EOI Required
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You already have 150k of Voluntary Life, at open enrollment period (1/01/26 effective date) you may purchase the max 500K benefit --- If over 20K increment - YES, EOI Required
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You went through previous open enrollment and declined the Guaranteed Issue amount of 150k, at open enrollment period (1/01/26 effecitve date) you may now decide you would like a benefit that’s over 20k - YES, EOI Required
In other words, if you are requesting a benefit amount greater than the Guaranteed Issue amount, have previously waived Voluntary Life, or are increasing the coverage amount,
you are required to complete the Evidence of Insurability form below.
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SEND COMPLETED EOI FORM TO: groupbenefitsadmin@principal.com
How much will it cost?
Supplemental (VOLUNTARY) Life/AD&D is available to purchase through your employer. Pricing for both employee and spouse is based on Age/Rate grid below.
Your per pay period deduction is calculated as follows using the Age/Rate grid below:
Step 1: Find EMPLOYEE Age Bracket and Rate
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Step 2: Consider COVERAGE AMOUNT you wish to purchase ($500,000 Maximum Benefit / $150,000 Guaranteed Issue without Evidence of Insurability completed / $20,000 Increment Guaranteed Issue - see scenarios above)
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Step 3: Multiply Employee COVERAGE AMOUNT by age-banded RATE = Gross amount
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Step 4: Divide GROSS AMOUNT by 1000 = Monthly Rate
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Step 5: Multiply MONTHLY RATE by .4615 = Pay Period Deduction (biweekly)
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Should you have any questions, please contact your Human Resources Manager:
MaryPat Pohlig at (203) 792-4515 x1121.
