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Term Life Insurance

Term Life Insurance Plans

The Town of Westborough offers two term life insurances:  Basic Term Life and Portable Voluntary Term Life and AD&D.  Both types of term life insurance are eligible benefits under the Town of Westborough Cafeteria Plan.

Basic Term Life Insurance (Active Employees):
  • $15,000 term insurance policy.
  • Town monthly cost - $4.49.
  • Employee monthly cost - $2.42.
  • The Town of Westborough contributes 65% and employees contribute 35% of the monthly premium of $6.90.

Basic Term Life Insurance (Retired Employees):

  • $5,000 term insurance policy.
  • Town monthly cost - $1.50.
  • Employee monthly cost - $0.81.
  • The Town of Westborough contributes 65% and employees contribute 35% of the monthly premium of $2.30.

Portable Voluntary Term Life Insurance & Accidental Death and Dismemberment:(Active and Retired Employees) 

Note :  You must be enrolled in the Basic Term Life Insurance in order to elect this benefit.

The Portable Voluntary Life Insurance benefit allows you to secure up to $300,000 (Basic and Portable combined) of very competitively priced life insurance and AD&D insurance for yourself and/or your spouse.  In addition, you may purchase optional coverage for dependent children.

  • Coverage is available in increments of $10,000.
  • You may purchase up to $35,000 of Portable and take that portion of your premium as a Pre-Tax benefit.
  • Employee coverage up to $50,000 and spousal coverage up to $10,000 is guaranteed issued without providing evidence of insurability.
  • For additional detailed literature on this benefit, please contact Human Resource (508-836-7702, Ext. 1021) or email rebhd@westboroughk12.org.
  • Employee picks up 100% of the monthly premium.

Insurance Rate Brackets
Below rates are based on $1,000 of coverage per month

 Age  Non-Smoker Smoker 
 Under 30  $ .10  $ .19
 30-34   $ .11    $ .20 
 35-39  $ .15  $ .27
 40-44   $ .26   $ .44 
 45-49  $ .37 $ .81 
 50-54   $ .62   $1.32 
 55-59  $1.07   $2.38 
 60-64  $1.68  $2.91
 65-69  $2.65  $4.68
 70 & Over $4.24 $7.43
Note:  The rate will increase when you advance to the next age bracket.


Examples of Monthly Premiums :

 $50,000 Coverage, Age 33, Non-Smoker    $ 5.50 per month 
 $50,000 Coverage, Age 33, Smoker    $10.00 per month
   
 $50,000 Coverage, Age 43, Non-Smoker   $13.00 per month
 $50,000 Coveage, Age 43, Smoker    $22.00 per month


Voluntary Accidental Death and Dismemberment Rates: 

 Individual Plan    $ .05/$1,000 per month   
 Family Plan  $ .08/$1,000 per month


Voluntary Dependent Life Rate: 


$1.00 per family unit per month covers all dependent children.