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LIFE INSURANCE

We know you want to protect your loved ones in case of life’s uncertainties. The Cleveland Guardians offers Basic Term Life Insurance and Accidental Death & Dismemberment (AD&D) coverage at no cost to you. You may purchase additional, supplemental coverage to increase your coverage amounts. Please be sure to designate a beneficiary at your time of election!

Evidence of Insurability is required to increase life insurance coverage if you are a late entrant, electing an amount greater than $150,000 for self, or greater than $10,000 for spouse.

Basic Life Insurance

Life insurance is an important part of your financial security, especially if others depend on you for support. Accidental Death & Dismemberment (AD&D) insurance is designed to provide a benefit in the event of accidental death or dismemberment. The Cleveland Guardians provides Basic Life and AD&D Insurance to all full-time eligible employees at no cost to you. This benefit includes: Basic Life is one times annual base earnings (minimum benefit $10,000, up to a maximum benefit of $50,000 (front office). AD&D is one times your base earnings (minimum benefit $10,000, up to a maximum benefit of $50,000). 

Supplemental Life Insurance

In addition to basic life insurance, you can choose to elect supplemental Life and Accidental Death & Dismemberment Insurance.

  • For yourself: You can purchase additional coverage in increments of $25,000 to a maximum of $500,000.  Your rates depend on your age and the amount of coverage you elect. You premiums will be withheld from your paycheck and paid with after-tax dollars. 
  • For your dependents: You can also purchase coverage for your spouse and/or children. Keep in mind, your spouse’s coverage must be an amount equal to the employee’s coverage to a maximum of $50,000.  Children may be covered based on their age.  Children from 14 days to 6 months qualify for $500 in coverage, from 6 months but less than 23 year elections can be 10% of employee amount to a maximum of $10,000.  This benefit is extended to age 25 for full-time students.

Evidence of Insurability is required to increase coverage or if you are a late entrant. 

 
Supplemental Life and AD&D and Dependent Life Rates Monthly cost per $1,000 of coverage
Employee & Spouse Life
 
Age Employee NonSmoker Employee Smoker Spouse AD&D Benefits
<30 $0.07  $0.13 $0.06 $0.035
30-34 $0.08 $0.14 $0.06 $0.035
35-39  $0.09 $0.18 $0.07 $0.035
40-44 $0.17 $0.30 $0.11 $0.035
45-49 $0.25 $0.54 $0.18 $0.035
50-54 $0.42 $0.89 $0.30 $0.035
 55-59 $0.72 $1.61 $0.48 $0.035
60 & Over $1.14 $1.96 $0.66 $0.035


 Child(ren) Life

The monthly cost is $0.24 per $1,000 of coverage and all eligible dependent children are included in the cost.

Cleveland Guardians
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