In order to protect your family’s security, the City of Lewisville automatically provides you with term Life Insurance through Sun Life Financial Group. The Life Insurance benefit provides:
- Four times your annual salary to a maximum of $400,000
- Reduces at age 70 to 50% of original amount
- Reduces at age 75 to 25% of original amount
Dependent Life Insurance
If you want a greater level of protection, dependent life coverage is available to purchase. Life doesn’t always bring us what we expect. It helps to know that financial security is available for your family…even if you aren’t. That’s why the City of Lewisville provides you with the opportunity to elect dependent life Insurance for your family.
Below is a breakdown of coverage levels and their associated monthly premiums for dependent life insurance:
AMOUNT OF COVERAGE
|FOR YOUR SPOUSE||$25,000||$1.00|
|FOR YOUR CHILD(REN)||$10,000||$1.00|
FOR YOUR FULL FAMILY
Enrollment in dependent life insurance is available only within 30 days from your date of hire. You may elect dependent life coverage for your new spouse within 30 days of the marriage date or for your new child(ren) within 30 days of the date of birth. Dependent life insurance is not available during open enrollment periods.