Life Insurance Plans

Basic Term Life Insurance Plan

The purpose of the Basic Term Life Insurance Plan is to provide faculty and staff with both term life insurance and accidental death and dismemberment coverage as some degree of financial support to designated beneficiaries in the event of the death of benefits-eligible faculty and staff. This plan is fully University paid is sponsored by the Standard Insurance Company.

• maximum eligible University salary is $80,000, and
• maximum coverage is $200,000
• minimum coverage is $2,500

Summary Plan Description: Life Insurance ( PDF)
Coverage Reduction Factor Schedule ( PDF)

Supplemental Term Life Insurance Plan

The purpose of the Supplemental Term Life Insurance Plan is to provide the opportunity for individuals to purchase term life insurance protection above the amount of Basic Term Life rance provided by the University.

Employees may elect 1 to 5 times their University salary up to a maximum coverage of $1,000,000.

During Open Enrollment, individuals may elect higher amounts of coverage which require evidence of good health. Costs associated with a physical examination, should one be required, are paid by Standard.

New employees must submit a completed the online enrollment process no later than 31 days from the date of benefits eligible status, amounts above 2 times salary requires evidence of good health. Afterward, any amount requires evidence of good health.

Summary Plan Description: Supplemental Term Life ( PDF)

Monthly Contributions

Spouse and Dependent Child Term Life Insurance Plans

The purpose of the Spouse and Dependent Child Term Life Insurance Plans are to provide the opportunity for individuals to purchase term life insurance protection for his or her spouse and children.

Spouse coverage is available in $10,000 increments to a coverage maximum of $250,000 not to exceed 50% of an employee's Supplemental Term Life Insurance coverage.

New employees must submit a completed enrollment form within 31 days from the date of hire or benefits eligible status. Afterward, any amount of Spouse Term Life insurance coverage requires evidence of good health.

Dependent child coverage is available in $2,000 increments to a maximum coverage of $10,000 per child.

Summary Plan Description: Spouse Life Insurance ( PDF)

Summary Plan Description: Dependent Child Life Insurance ( PDF)

Monthly Contributions

Other Links

Certificates of Coverage

Enrollment and Claim Forms

The Standard

Standard Life Insurance Premium Calculator

Standard Life Insurance Basic Life Calculator

Standard Life Insurance Needs Estimator

Standard Imputed Income Calculator

Benfits Enrollment & Change Form

New Enrollment Form ( PDF)

Benefits Withdrawal Form ( PDF)