Please review the employment category that pertains to you.

This program allows you to obtain more life insurance than the amount provided by the group life coverage. No statement of health or physical exam is required for this program. 

Description of the Voluntary Term Life insurance plan.

The optional, voluntary term life (VTL) insurance plan allows you to acquire additional life insurance from 1/2 to 3 1/2 times your salary. This program is age-rated. The rates change as a person reaches 40, 50, and 60. Until a person reaches the age of 60, the rate for this program is less than the group life product.

The Internal Revenue Service (IRS) has determined that if an employer allows employees access to life insurance in excess of $50,000, the amount in excess of $50,000 has a value to the employee and is taxable. For the University of Iowa, this would include the basic group program, the voluntary term life insurance program and spouse and dependent life.

In order to elect voluntary term life insurance for your spouse/domestic partner and/or dependent children, you must elect coverage for yourself under the voluntary term life insurance benefit first. Your dependent's benefit amount cannot be more than 100 percent of your own benefit amount.

For Example: If your salary is $40,000 and you elect 1/2 x's salary in voluntary term life for yourself, you must elect $20,000 or less in coverage for your spouse.

Carefully evaluate the group life insurance and voluntary life insurance plans to ensure you are getting the most coverage for your money.

Enrollment Instructions

Faculty, Professional & Scientific (P&S), Merit, and SEIU Staff

Instructions for enrolling in the Voluntary Term Life plan

  • Enrollment in this program is optional.
    • If you do not want to participate in this program, select option 90 from the drop down.
    • If you want coverage, select the option code from the drop down that corresponds to your coverage choice. The Option Code is the number in the parentheses located to the right of the price. 
  • Make any necessary changes to the list of beneficiaries and identify any new beneficiaries. 
  • Choose the recalculate function/button to refresh to your current list of eligible dependents and beneficiaries if needed.
  • Fill in either a percent of coverage or flat amount for primary and contingent beneficiaries. Beneficiaries are considered to be primary unless specified as contingent (CON). The total of all primary percents must equal 100% and the total of all contingent beneficiaries must equal 100%.

House Staff Residents/Fellows

Instructions for enrolling in the Voluntary Term Life plan

  • Enrollment in this program is optional.
    • If you do not want to participate in this program, select option 90 from the drop down.
    • If you want coverage, select the option code from the drop down that corresponds to your coverage choice. The Option Code is the number in the parentheses located to the right of the price. 
  • Make any necessary changes to the list of beneficiaries and identify any new beneficiaries. 
  • Choose the recalculate function/button to refresh to your current list of eligible dependents and beneficiaries if needed.
  • Fill in either a percent of coverage or flat amount for primary and contingent beneficiaries. Beneficiaries are considered to be primary unless specified as contingent (CON). The total of all primary percents must equal 100% and the total of all contingent beneficiaries must equal 100%.

Changes for 2025

There are no changes for the voluntary term life (VTL) insurance plan in 2025.