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.
Coverage
You may choose one of the following plans.
| Coverage Option | Coverage Amount | 2020 Monthly Rate |
|---|---|---|
| Spouse/partner only | $10,000 | $3.49 |
| $20,000 | $6.66 | |
| $40,000 | $12.71 | |
| Dependent only (per child) |
$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.