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How does the 5-Year age banded Group Term Life Insurance Plan benefit decrease and at what age?

April 26, 2017age banded benefit group Plan term life insurance

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How does the 5-Year age banded Group Term Life Insurance Plan benefit decrease and at what age?

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For the current group term life plan, G-2766-3, each $1,000 option reduces to $660 at age 60 and to $460 at age 65, and to $300 at age 70. To calculate benefit at age 60, multiply the original benefit by .66, at age 65 by .46, and at age 70 by .30. The plan terminates at age 75.