Basic Life Insurance and Accidental Death & Dismemberment Plan (AD&D)
The University pays 75% of the total premium cost for your Basic Life and AD&D coverage. Your life insurance coverage is a multiple of your base annual pay, based on your age and rounded up to the next $1,000, up to a maximum of $500,000 for each benefit. AD&D coverage for loss of life is equal to your life insurance coverage.
Supplemental Life Insurance
You, your spouse and your dependent children may apply for coverage under this employee-paid program. You may choose to cover yourself up to 5 times your annual base salary to a maximum of $500,000. You may choose to cover your spouse up to 100% of the coverage you choose for yourself to a maximum of $250,000. Coverage for your dependent child(ren) is $10,000 per child who is at least 6 months old, regardless of how many children you may have.
Your choices will be subject to Evidence of Insurability (EOI) if the coverage for yourself is over $300,000, or coverage for your spouse is over $150,000.
The cost for your coverage will be paid through after-tax payroll deductions.