Life and AD&D Benefits
• Employer pays 100%
• All Full-Time Employees
• All Regular Part-Time Employees and Adjunct Faculty who are eligible and enrolled in the Employer’s Group Health Plan
Life Benefit |
Employee |
Spouse and Dependent |
|---|---|---|
Amount |
1x Basic Annual Earnings, rounded to the next higher $1,000 |
Spouse - $2,000 |
Minimum Amount |
$50,000 |
|
Maximum Amount |
$150,000 |
|
Guarantee Issue |
$150,000 |
|
AD&D Benefit Amount |
$25,000 |
|
AD&D Guarantee Issue |
$25,000 |
|
Benefits will reduce |
35% at age 65 |
Benefits terminate at Spouse age 70 |
Additional Benefits |
Accelerated Death Benefit; Seat Belt, Airbag, and Common Carrier; Conversion; Continuation of Coverage; |
Employees may buy supplemental Voluntary Life & Accidental Death & Dismemberment (AD&D) coverage available up to five times annual base salary (not to exceed $500,000 for employee).
Voluntary Life coverage is available for spouse and child(ren) only if employee elects coverage. Voluntary spouse coverage cannot exceed half of the employee’s life coverage. Voluntary AD&D is automatically included for spouse. There is no AD&D coverage for child(ren).
Annual Open Enrollment Increase
Employees and spouses currently enrolled in the Voluntary Life & AD&D can increase their coverage during open enrollment by two increments without evidence of insurability. Any benefit amounts that go above the guaranteed issue are subject to EOI.