Supplemental Term Life Insurance
The purpose of the Supplemental Life Insurance Plan is to provide the opportunity for individuals to purchase term life insurance protection above the amount of Basic Term Life insurance provided by the University. This plan is fully employee paid. Review the summary plan description for more details.
Employees may elect 1 to 5 times their University salary. Maximum coverage of $2,000,000.
Coverage at hire or initial benefits eligibilityAt hire, you are guaranteed coverage of three times your annual salary up to $1 million regardless of health status. As a new employee, if you wish to elect more than three times your annual salary or the coverage amount exceeds $1 million, you must:
- Enroll online and submit an Evidence of Insurability (EOI) form to apply for the additional amount above the guaranteed issue.
You may increase coverage by 1x your annual salary within 31 days of a qualifying change in family or employment status without underwriting online via myHR.
Increases greater than 1x your annual salary require the submission of an EOI.
Changes during Open Enrollment require the submission of an EOI and approval by the sponsoring insurance company.
*Premium Rate per $1,000 of Coverage
**Please note that premiums are taken as an after-tax deduction from your paycheck
|To age 30||$0.021|
|30 to 34||$0.026|
|35 to 39||$0.039|
|40 to 44||$0.048|
|45 to 49||$0.075|
|50 to 54||$0.114|
|55 to 59||$0.211|
|60 to 64||$0.280|
|65 to 69||$0.432|
|70 to 79||$0.691|
|Age 80 and over||$0.691|
Beneficiaries can be updated at any time during the year through the myHR portal. For assistance updating beneficiaries, please see this user guide.
Accessing the benefits enrollment platform
- Login to myHR (using your Net ID and Password)
- Select the “Benefits” tile in “myHR Self Service”
- Select “My Health Benefits Elections” (in the lefthand menu)
- Select “Get Started”