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R2007-197 AUTHORIZING GROUP TERM LIFE INSURANCE COVERAGE
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R2007-197 AUTHORIZING GROUP TERM LIFE INSURANCE COVERAGE
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Last modified
10/29/2015 9:54:59 AM
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10/29/2015 9:49:40 AM
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Resolution/Ordinance
Res Ord Num
R2007-197
Res Ord Title
AUTHORIZING EMPLOYEE GROUP TERM LIFE INSURANCE COVERAGE
Approved Date
10/15/2007
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LIFE INSURANCE RENEWAL PROPOSAL COMPARISON <br /> Life AD&D Volume <br /> Class Description Benefit Benefit (000) <br /> 1 General Service 10,000 10,000 1640 <br /> 2 Fire Fighters 25,000 25,000 2525 <br /> 3 Police 25,000 25,000 3750 <br /> 4 Library& Management 5,000 5,000 710 <br /> 5 City Management 1 x Salary 1 x Salary 6200 <br /> 6 City Manager 3 x Salary 3 x Salary 345 <br /> 15,170 <br /> Wells Fargo Behnke Clemens Troxell Consociate <br /> Expirinq Lafavette Reliance Met Life Principal Standard Sun Life <br /> Annual Premium $42,789 $50,071 $52,143 $36,381 $53,074 $51,778 No Quote <br /> CM Class 6 Limit 500,000 430,000 396,000 300,000 omitted initially <br /> CM Class 6 Limit @ 65 N/A 279,500 257,400 195,000 <br /> CM Class 6 Limit @ 70 325,000 215,000 165,750 <br /> Option - no reduction @ 65 YES <br />
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