Life Insurance & Accidental Death and Dismemberment Insurance

Life Insurance

The College covers each eligible employee with $60,000 basic term life insurance. For eligible employees age 65, but less than 70, the basic term life coverage will be reduced to $39,000. For eligible employees age 70 or above, basic term life coverage will be reduced to $30,000.

Voluntary supplemental life insurance can be purchased for eligible employees in $10,000 increments up to $500,000, not to exceed 5 x basic annual earnings. You may elect an amount up to $130,000 without Evidence of Insurability at time of hire. If you select to increase your supplemental life insurance after your date of hire, an Evidence of Insurability ( medical exam) is required.

You may purchase Supplemental Life coverage for Your Spouse in $10,000 increments to a maximum of $50,000, not to exceed 100% of supplemental employee coverage. You may elect an amount up to $30,000 without Evidence of Insurability at time of hire.

You may purchase Dependent Child(ren) Supplemental Life up to $10,000 for any child(ren) between the age of 6 months and 19 years ( 26 years if a full-time student). Coverage for a child(ren) under the age of 6 months can be obtained at a maximum of $1,000.

You will fund this coverage via payroll deduction on a post-tax basis. Any benefit paid to a beneficiary is not subject to taxation.

Accidental Death and Dismemberment

The College covers each eligible employee with $60,000 accidental death and dismemberment insurance under a double indemnity feature included in the basic term life insurance described above.

A voluntary supplemental plan permits eligible employees to purchase additional accidental death and dismemberment insurance in principal amounts following the same schedule as outlined for the Supplemental life.

Symetra Plan Info:

Prior Plan Info:

Summary Plan Description - Life & ADD