This voluntary program available to faculty and staff allows you to obtain life insurance for your spouse/domestic partner and/or your dependents (14 days old through the end of the month in which they reach 26 years old, unless the dependent is disabled; if dependent is disabled and classified as a dependent for tax purposes, there is no maximum age for coverage).
Your dependent's benefit amount cannot exceed 100 percent of your own benefit amount. For example, if your salary is $40,000 and you elect one-half times your salary in voluntary term life for yourself, you must elect $20,000 or less for your spouse.
You may choose one of the following plans.
|Coverage Option||Coverage Amount||2020 Monthly Rate|
|$5,000 per child||$1.02|
|$10,000 per child||$1.94|
|$20,000 per child||$3.69|
Spouse/partner and dependent
|$10,000 spouse/partner; $5,000 per child||$4.51|
|$20,000 spouse/partner; $10,000 per child||$8.60|
|$40,000 spouse/partner; $20,000 per child||$16.40|
Please note: this premium may only be paid after-tax, as a deduction from your net pay.
Each selection gives your spouse and/or dependents the life insurance as noted. The employee will always be the beneficiary in case of the death of a spouse and/or dependent. The contingent beneficiary will always be the insured's estate.