Basic Life Insurance Coverage

Basic Insurance Amount: Coverage equal to the greater of (a) your actual rate of annual basic pay (rounded up to the next $1000) plus $2000 or (b) $10,000. The maximum Basic Insurance Amount is the actual rate of annual basic pay payable for positions at Level II of Executive Schedule under section 5313 of title 5, United States Code (rounded up to next $1,000) plus $2,000).

If you are a part-time employee, your annual basic pay for life insurance purposes is the basic pay applicable to your tour of duty in a 52-week workyear. For example, if the annual salary for your positon is $21,906 per year but you are employed half-time, your annual basic pay for insurance purposes would be $10,953.
You may use the work table below to compute your Basic Insurance Amount.

Work Table

Line 1 Your current actual rate of annual
basic pay..........................................$________________
Line 2 If not an even thousand, round up
to next thousand ...............................$________________
Line 3 Add $2,000 ....................... +$____2,000_______
Line 4 Your Basic Insurance Amount
(line 2 plus 3) ..................................$________________

Extra Benefits for employees under age 45: This Extra Benefit doubles the amount of life insurance payable if you are age 35 or younger. Beginning on your 36th birthday, the Extra Benefit decreases 10% each year until, at age 45, there is no Extra Benefit.

To determine the total amount of Basic Life Insurance, including the Extra Benefit, mulitiply your Basic Insurance Amount by the Age Multiplication Factor shown below:

You may use the work table below to determine your total amount of Basic Life Insurance (which includes the
Extra Benefit).

Line 5 Your Basic Insurane Amount
(from line 4 of the work table) ......$_________
Line 6 Age Multiplication Factor
(from table) ...................................x_________
Line 7 Total amount of Basic Life Insur-
ance including the Extra Benefit ....$_________
(line 5 times line 6)