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Life insurance

The university offers a number of life insurance plans:

  • Basic Life is available to benefit-eligible faculty and staff. For retirees, Basic Life is available to those retirees who are eligible for retiree insurance benefits, have not yet reached the age of 70 and were enrolled in the plan before retiring.
  • Additional Life is available to benefit-eligible faculty and staff, as well as retirees who are eligible for retiree insurance benefits and were enrolled in the plan before retiring.
  • Dependent Life (Spouse, Sponsored Adult Dependent, and/or Child) is available to benefit-eligible faculty and staff, as well as retirees who are eligible for retiree insurance benefits and were enrolled in the plan before retiring.
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  2020 Life insurance  

Basic Life

As an employee, you are automatically enrolled in Option A of the Basic Life Plan because it is 100% employer paid. You may opt out of this coverage if you wish. Coverage is available at 1x (Option A) or 2x (Option B) your annual base salary to a maximum of $1,700,000. With both options, the coverage amount begins to decrease once you reach age 55. In addition, you must be actively at work on the effective date of coverage; otherwise, coverage will begin when you return to active work.

You may elect Basic Life Option B at initial enrollment without providing evidence of insurability provided you submit your enrollment within 31 days of your date of hire or eligibility date. Generally speaking, if you elect Option B during Annual Enrollment, you must submit evidence of insurability. However, for the 2020 plan year, you will have a unique opportunity to add or increase coverage in Basic Life during the Annual Enrollment period without providing evidence of insurability.

For more details on this plan, refer to the Life Insurance Summary Plan Description (SPD).

Basic Life - Monthly premiums for active employees, 2020

Plan type Employee cost (per $1,000 of coverage) UM cost (per $1,000 of coverage) Total (per $1,000 of coverage)
Option A- (1 x annual base salary & age graded) $0 $0.046 $0.046
Option B- (2 x annual base salary & age graded) $0.022 $0.046 $0.068

As a retiree, Basic Life is available if you are eligible for retiree insurance benefits, have not yet reached age 70 and were enrolled in the plan before retiring. You may not increase your coverage; however, you may decrease your coverage during the next Retiree Annual Enrollment change period. Your salary is based on the year in which you retired.

For more details on this plan, refer to the Life Insurance Summary Plan Description (SPD).

Basic Life - Monthly premiums for eligible retirees, 2020

Plan type Retiree cost (per $1,000 of coverage) UM cost (per $1,000 of coverage) Total (per $1,000 of coverage)
Option A- (1 x annual base salary & age graded) $0 $0.983 $0.983
Option B- (2 x annual base salary & age graded) $0.082 $0.819 $0.901

Additional Life

Additional Life Insurance is 100% employee/retiree-paid. This plan provides you an opportunity to add extra coverage in addition to basic life insurance. Coverage is available at 1x, 2x or 3x your annual base salary to a maximum of $1,000,000, and a minimum of $20,000 even if you earn less. Monthly premiums vary by age. In addition, you must be actively at work on the effective date of coverage; otherwise, coverage will begin when you return to active work.

As an employee, you may elect Additional Life at initial enrollment without providing evidence of insurability (up to 1x annual base salary) provided you submit your enrollment within 31 days of your date of hire or eligibility date. Generally speaking, if you elect Additional Life during Annual Enrollment, evidence of insurability must be submitted for any increase in coverage. However, for the 2020 plan year, you will have a unique opportunity to add or increase coverage in Additional Life during the Annual Enrollment period without providing evidence of insurability.

Employees/retirees may decrease Additional Life coverage at any time during the plan year.

For more details on this plan, refer to the Life Insurance Summary Plan Description (SPD).

Additional Life - Monthly premiums, 2020

Age as of January 1 Employee/retiree cost (per $1,000 of coverage)*
< 25 $0.05
25 – 29 $0.06
30 – 34 $0.08
35 – 39 $0.09
40 – 44 $0.10
45 – 49 $0.15
50 – 54 $0.23
55 – 59 $0.43
60 – 64 $0.66
65 – 69 $1.27
70 – 74 $2.06 - $2.76
75 – 79 $3.04 - $4.35
80 – 84 $4.74 - $6.87
85 – 89 $7.53 - $10.43
90 – 94+ $11.24 - $16.02

*Learn more about the Evidence of Insurability information required for enrolling in this plan.


Dependent Life- Spouse or sponsored adult dependent

Dependent Spouse/Sponsored Adult Dependent Life Insurance is 100% employee-paid. Coverage is available in increments of $10,000 up to a maximum of $50,000.

As an employee, your opportunities to elect dependent life for a spouse or sponsored adult dependent and the evidence of insurability* (EOI) requirements are as follows:

  • New hire enrollment: You may elect coverage up to $20,000 without EOI provided you do so within 31 days of your date of hire or benefit eligibility date.
  • Annual enrollment: You may elect to enroll or change the amount of coverage for which you’ve enrolled. Generally speaking, EOI is required for newly elected coverage and increases in coverage. However, for the 2020 plan year, you will have a unique opportunity to add or increase coverage in Spousal Life, up to $20,000, during the Annual Enrollment period without providing evidence of insurability. EOI is not required for decreases in coverage.
  • Mid-year qualifying event: You may elect coverage up to $20,000 without EOI provided you do so within 31 days of the date of marriage. EOI is required for existing spouses/sponsored adult dependents to enroll in any amount of coverage.
    • If your spouse/sponsored adult dependent was a UM benefit-eligible employee who lost their UM basic life coverage and is newly eligible for UM spousal life coverage, you may elect up to $20,000 without EOI provided you do so within 31 days of the date the UM employee coverage ended.

Note: If your eligible dependent is totally disabled, at the time coverage would otherwise begin, your dependent's coverage will begin on the date your eligible dependent is no longer totally disabled. “Totally Disabled” means that, as a result of an injury, a sickness or a disorder:

  • your eligible dependent is confined in a hospital or similar institution; OR
  • is confined at home under the care of a physician for a sickness or injury.

As a retiree, you may elect to lower the amount of coverage for which you’ve enrolled during the next Retiree Annual Enrollment change period. You may not add or increase coverage after retirement, but you may cancel the coverage at any time.

For more details on this plan, refer to the Dependent Life Insurance Summary Plan Description (SPD).

Dependent Life-Spouse or sponsored adult dependent- Monthly premiums, 2020

Age as of January 1 Employee/retiree cost  (per $1,000 of coverage)*
< 30 $0.064
30 – 34 $0.073
35 – 39 $0.10
40 – 44 $0.155
45 – 49 $0.228
50 – 54 $0.346
55 – 59 $0.537
60 – 64 $0.837
65 – 69 $1.32
70 – 74 $2.11
75 – 79 $3.449
80 – 84 $5.36
85 – 89 $8.399
90+ $12.977

*Learn more about the Evidence of Insurability information required for enrolling in this plan.


Dependent Life- Child

Dependent Child Life Insurance is 100% employee-paid. Coverage is available in increments of $5,000 up to a maximum of $25,000.

Your opportunities to elect dependent life for a child are as follows:

  • New hire enrollment: You may elect coverage up to $25,000 provided you do so within 31 days of your date of hire or benefit eligibility date; otherwise, you must wait until the next Annual Enrollment.
  • Annual enrollment: You may elect to enroll or change the amount of coverage for which you’ve enrolled.
  • Mid-year qualifying event: You may elect coverage up to $25,000, provided you do so within 31 days of the date of birth or adoption.
    • If your dependent child was a UM benefit-eligible employee who lost their UM basic life coverage and is newly eligible for UM dependent life child coverage, in which case you may elect up to $25,000, provided you do so within 31 days of the date the UM employee coverage ended; otherwise, you must wait until the next Annual Enrollment.

If you enroll in coverage, then all of your children are covered. Children are eligible for Dependent Child Life insurance coverage until the end of the month in which they turn 26 years of age*. If your dependent(s) no longer qualify, it is your responsibility to cancel your Dependent Child Life coverage by completing a Benefit Change Form.

Note: If your eligible dependent is totally disabled, at the time coverage would otherwise begin, your dependent's coverage will begin on the date your eligible dependent is no longer totally disabled. “Totally Disabled” means that, as a result of an injury, a sickness or a disorder:

  • your eligible dependent is confined in a hospital or similar institution; OR
  • is confined at home under the care of a physician for a sickness or injury.

*After exceeding this age limit, your child’s coverage would normally end. However, your child will remain eligible for coverage after reaching the age limit if certain criteria is met regarding disability.

Dependent Life-Child- Monthly premiums, 2020

Coverage amount Employee/retiree cost (per amount listed)
$5,000 $0.32
$10,000 $0.64
$15,000 $0.96
$20,000 $1.28
$25,000 $1.60

For more details on this plan, refer to the Dependent Life Insurance Summary Plan Description (SPD).

 

Forms and guides


  2019 Life insurance  

Basic Life

Basic Life* - Monthly premiums for active employees, 2019

Plan type Employee cost (per $1,000 of coverage) UM cost (per $1,000 of coverage) Total (per $1,000 of coverage)
Option A- (1 x base salary & age graded) $0 $0.06 $0.06
Option B- (2 x base salary & age graded) $0.03 $0.06 $0.09

*You may elect Basic Life Plan B at initial enrollment without providing evidence of insurability provided you submit your enrollment within 31 days of your date of hire or eligibility date. If you elect Plan B during Annual Enrollment, you must submit evidence of insurability.

Basic Life* - Monthly premiums for eligible retirees, 2019

Plan type Employee cost (per $1,000 of coverage) UM cost (per $1,000 of coverage) Total (per $1,000 of coverage)
Option A- (1 x base salary & age graded) $0 $1.20 $1.20
Option B- (2 x base salary & age graded) $0.09 $0.90 $0.99

 

Supplemental Life

Supplemental Life Insurance is 100% employee/retiree-paid. Coverage at 1, 2 or 3 times your annual base salary to a maximum of $1,000,000, and a minimum of $20,000 even if you earn less. Monthly premiums vary by age.

Supplemental Life* - Monthly premiums, 2019

Age as of January 1 Employee/retiree cost (per $1,000 of coverage)*
< 25 $0.05
25 – 29 $0.06
30 – 34 $0.08
35 – 39 $0.09
40 – 44 $0.10
45 – 49 $0.15
50 – 54 $0.23
55 – 59 $0.43
60 – 64 $0.66
65 – 69 $1.27
70 – 74 $2.06 - $2.76
75 – 79 $3.04 - $4.35
80 – 84 $4.74 - $6.87
85 – 89 $7.53 - $10.43
90 – 94 $11.24 - $16.02

*Learn more about the Evidence of Insurability information required for enrolling in this plan.

Dependent Life- Spouse or sponsored adult dependent

Dependent Spouse/Sponsored Adult Dependent Life Insurance is 100% employee-paid. Coverage is available in increments of $10,000 up to a maximum of $50,000.

Your opportunities to elect dependent life for a spouse or sponsored adult dependent and the evidence of insurability* (EOI) requirements are as follows:

  • New hire enrollment: You may elect coverage up to $20,000 without EOI, provided you do so within 31 days of your date of hire or benefit eligibility date.
  • Annual enrollment: You may elect to enroll or change the amount of coverage for which you’ve enrolled. EOI is required for newly elected and increases in coverage. EOI is not required for decreases in coverage. 
  • Mid-year qualifying event: You may elect coverage up to $20,000 without EOI, provided you do so within 31 days of the date of marriage. EOI is required for existing spouses/sponsored adult dependents to enroll in any amount of coverage.
    • If your spouse/sponsored adult dependent was a UM benefit-eligible employee who lost their UM basic life coverage and is newly eligible for UM spousal life coverage, then, you may elect up to $20,000 without EOI, provided you do so within 31 days of the date UM employee coverage ended. 

Dependent Life-Spouse or sponsored adult dependent- Monthly premiums, 2019

Age as of January 1 Employee/retiree cost (per $1,000 of coverage)*
< 30 $0.07
30 – 34 $0.08
35 – 39 $0.11
40 – 44 $0.17
45 – 49 $0.25
50 – 54 $0.38
55 – 59 $0.59
60 – 64 $0.92
65 – 69 $1.45
70 – 74 $2.32
75 – 79 $3.79
80 – 84 $5.89
85 – 89 $9.23
90 – 94 $14.26

*Learn more about the Evidence of Insurability information required for enrolling in this plan.

Dependent Life- Child

Dependent Child Life Insurance is 100% employee-paid. Coverage is available in increments of $5,000 up to a maximum of $25,000.

Your opportunities to elect dependent life for a child and the evidence of insurability* (EOI) requirements are as follows:

  • New hire enrollment: You may elect coverage up to $5,000 without EOI, provided you do so within 31 days of your date of hire or benefit eligibility date.
  • Annual enrollment: You may elect to enroll or change the amount of coverage for which you’ve enrolled. EOI is required for newly elected and increases in coverage. EOI is not required for decreases in coverage. 
  • Mid-year qualifying event: You may elect coverage up to $5,000 without EOI, provided you do so within 31 days of the date of birth or adoption. EOI is required for existing children to enroll in any amount of coverage.
    • If your dependent child was a UM benefit-eligible employee who lost their UM basic life coverage and is newly eligible for UM dependent life child coverage; then, you may elect up to $5,000 without EOI, provided you do so within 31 days of the date UM employee coverage ended.

Dependent Life-Child- Monthly premiums, 2019

Coverage amount* Employee/retiree cost (per amount listed)
$5,000 $0.35
$10,000 $0.70
$15,000 $1.05
$20,000 $1.40
$25,000 $1.75

*Learn more about the Evidence of Insurability information required for enrolling in this plan.

Forms and guides

* In the event of a difference between this webpage and the plan document or summary plan description, the plan document and plan description prevail.

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Reviewed 2019-10-15