Group Life Insurance Benefit

WPF assumes contributions to the Plan it receives on your behalf are based on 12% of your salary and uses this salary to figure for both death and disability benefit purposes. For example, if your employer contributes $2100 to the Plan on your behalf, WPF will calculate your total salary to be $17,500 ($17,500 x 12% = $2100) and your death and disability benefits will be based on this amount of $17,500, regardless of what your actual salary is. Therefore, in order for you to receive the maximum death or disability benefits available, it’s important that your employer’s contributions to the Plan be based on your actual cash salary and, in the case of clergy, any additional housing allowance.

The formula for determining the life insurance benefit for individuals age 30 and younger is 4.0 times your salary, determined as described in the preceding paragraph. The salary multiple drops 0.1 for each year of age past 30, leveling out at 1.0 times compensation at age 60 to 70. Coverage is .5 times at age 70 and over for active participants. See insurance links below. This benefit is only available before retirement. Once you retire or terminate employment, you will no longer be covered under the WPF group insurance plan. The maximum amount of life insurance benefit is $550,000.