Life Insurance

The Georgia Bankers Association Insurance Trust, Inc. offers a wide variety of medical insurance plans for our members. Life insurance is an added benefit most members also choose.

The life insurance benefit is based on the annual earnings of the employee. In addition to the life benefit, an employee also has accidental death and dismemberment in an amount equal to their life insurance coverage. Dependents are eligible to be insured for life insurance on the same date the employee is insured.

All Eligible Employees	Benefit
Life Schedule I	One (1) times salary
Life Schedule II*	$10,000
Life Schedule III*
Life Schedule IV*	Two (2) times salary
Life Schedule V*	$25,000
Life Schedule VI*	2 1/2 times salary
Life Schedule VII*	$50,000
*Other Schedules of Life Insurance ($350,000 maximum)**
Dependent Life Benefits on All Life Schedules
Spouse & Child(ren) Dependents over 14 days but not yet age 19, or if a student and not yet age 26.	$ 2,000
Employees who cover their dependents under the basic dependent life program can buy an additional $8,000 on each eligible dependent for $3.40 per month per family unit.
*All principal amounts of life insurance for each eligible employee have an equal corresponding amount of accidental death and dismemberment coverage. The AD&D coverage does not apply to retiree or dependent life amounts.