This voluntary program, available to faculty, professional and scientific, merit supervisory exempt, merit, and house staff, allows you to obtain life insurance for your spouse/domestic partner and/or your children (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).
If you would like to participate you have the choice of six programs. 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.
You may choose one of the following plans. Please note: this premium may only be paid after-tax, as a deduction from your net pay.
|Coverage Option||Coverage Amount||2016 Monthly Rate||2017 Monthly Rate|
|$40,000||Option not Available||$12.71|
|Dependent only||$5000 per child||$1.02||$1.02|
|$10,000 per child||$1.94||$1.94|
|$20,000 per child||Option not available||$3.69|
|Spouse/partner and dependent||$10000 Spouse/Partner; $5000 per child||$4.51||$4.51|
|$20000 Spouse/Partner; $10,000 per child||$8.60||$8.60|
|$40,000 Spouse/Partner; $20,000 per child||Option not available||$16.40|