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Human Resources > Benefits > Life > Contributions

Contributions

Optional Term Life Insurance Plan

2006 Monthly Premium Rates per $1,000 of Coverage

AGE	RATE		AGE	RATE
To age 30	$.024		Age 55 through 59	$.241
Age 30 through 34	$.031		Age 60 through 64	$.320
Age 35 through 39	$.044		Age 65 through 69	$.494
Age 40 through 44	$.055		Age 70 through 74	$.790
Age 45 through 49	$.086		Age 75 through 79	$.790
Age 50 through 54	$.129		Age 80 and over	$.790
Employees may elect 1 to 5 times their University salary up to a maximum coverage of $1,000,000. Within 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.

Spouse Term Life Insurance Plan

2006 Monthly Premium Rates per $1,000 of Coverage

AGE	RATE		AGE	RATE
To age 30	$.024		Age 55 through 59	$.241
Age 30 through 34	$.031		Age 60 through 64	$.320
Age 35 through 39	$.044		Age 65 through 69	$.494
Age 40 through 44	$.055		Age 70 through 74	$.790
Age 45 through 49	$.086		Age 75 through 79	$.790
Age 50 through 54	$.129		Age 80 and over	$.790
NOTE: Coverage is available in $10,000 increments to a maximum coverage of $250,000 not to exceed 50% of an employee's Optional Term Life Insurance coverage. During Open Enrollment 2003 and within 31 days from the date of benefits eligible status, amounts above $30,000 requires evidence of good health. Afterward, any amount requires evidence of good health.

Dependent Child Term Life Insurance Plan

Coverage is available in $2,000 increments to a maximum coverage of $10,000. The monthly premium rate is $.30 per $2,000 of coverage.