Life Insurance
Group Number 500878
Benefit Period January 1, 2024 – December 31, 2024
Basic Life Insurance
The City of Akron currently provides life insurance through MedMutual Life for all regular full-time active employees with $50,000 of Basic Life & Accidental Death and Dismemberment (AD&D) at no cost to you!Optional Life Insurance
In addition to the Basic Life and AD&D, employees may elect Optional Life Insurance. Optional Employee Life Insurance may be elected in $10,000 increments up to 5 times your basic annual earnings (rounded to the next higher $10,000) not to exceed $500,000.
Optional Life Insurance coverage is available for Spouse and Dependent Children as long as the Employee elects optional life insurance.
- Optional Spouse Life Insurance: available in $5,000 increments and amount cannot exceed 50% of employee elected amount. Guarantee issue amount of $25,000 for the spouse.
- Optional Child Life Insurance: available in choice of a $5,000 or $10,000 benefit, dependent coverage includes unmarried children from live birth through age 25, insurance rates cover ALL of your dependent children for one price, you do not multiply the rate by the number of children. Amount cannot exceed 50% of the employee elected amount.
For employees currently enrolled with Optional Life Insurance, you may increase your benefits by one increment of $10,000 up to five (5) times your annual salary or a maximum $250,000, whichever is less, on a Guarantee Issue basis. This is only available during open enrollment.
If you wish to increase more than $10,000 or for more than the Guaranteed Issue amount, you must submit Evidence of Insurability to MedMutual Life and be approved prior to any increases taking effect. Rates for the Optional Life Insurance are available at www.mycityofakronbenefits.com.
If you were eligible last year and did not elect Optional Life, you may be eligible to purchase Optional Life this year. You must elect the Optional Life coverage during open enrollment, provide Evidence of Insurability and your Evidence of Insurability and requested coverage levels must both be approved by MedMutual Life.
Evidence of Insurability forms may be obtained at www.mycityofakronbenefits.com or in the Employee Benefits Office.
For Optional Life rate sheets, Life Insurance Enrollment Form, Evidence of Insurability Form, and other information please visit: www.mycityofakronbenefits.com
