Group Schedule-of-Benefits Calculator — Maple Groove Financial

See how a group life plan sets each member's coverage: by schedule, cap, age reduction, options and AD&D.

Schedule of benefits

Base annual salary — Base salary only; bonuses & overtime are excluded.

Earnings multiple —

Flat coverage amount —

Years of service — Illustrative: $5,000 of coverage per year of service.

Coverage maximum (cap) — Caps the base schedule amount for any one member.

Member's current age —

Reduction begins at age — 100% before, then 50%, then 25% (+5 yrs), then ends (+10 yrs).

Optional term units — Member-paid, $25,000 per unit (max 10).

Basic AD&D (auto accidental cover)

Pays an extra amount equal to the life benefit on accidental death.

Voluntary AD&D units — $25,000 per unit, accident only.

Dependant life: spouse — Each covered child = 50% of the spouse amount.

Dependant children covered —

Base coverage

—

at current age

Group life benefit

—

base + optional term

Accidental death total

—

life + AD&D

Dependant life

—

spouse + children

How this works. A group plan's schedule of benefits sets each member's base coverage: a multiple of salary, a flat amount, an amount per year of service, or a combination. Then a plan-wide maximum caps it. Because mortality rises with age, coverage is often reduced for older or retired members (here 100% → 50% → 25% → ends). Members may add optional term units, AD&D that pays extra only on accidental death, and modest dependant life on a spouse and children.