Life Insurance
Basic Life Insurance
÷ÈÓ°Ö±²¥ provides full-time and part-time benefit eligible employees who are scheduled to work at least the equivalent of 26 hours per week (52 weeks per year, or 1,352 hours annually) with basic life Insurance of $50,000 (reduced by 50 percent for participants age 70 or older). This coverage is 100 percent paid for by the College.
Voluntary Life Insurance
- Employees may elect to purchase supplemental life insurance for themselves. Coverage is available up to $300,000 ($10,000 minimum). Lincoln Financial's Evidence of Insurability (EOI) Health Questionnaire must be completed by new hires who elect supplemental life insurance in excess of $50,000. Existing employees must complete the questionnaire for any changes. The combined maximum benefit for basic and supplemental life is $350,000.
- Spouse Life Insurance Coverage: Employees are also given the option to purchase life insurance for their spouse in $10,000 increments up to $300,000. Spouse supplemental life insurance coverage in excess of $50,000 (for new hires) will require a completed Liberty Mutual EOI Health Questionnaire. Existing employees must complete the questionnaire for any changes.
- Dependent Child(ren) Life Insurance Coverage: Insurance for dependent children may be purchased in increments of $5,000 to a maximum of $10,000.
Please refer to the Benefits Guidebook, Handbooks and Policies and other provided plan documentation for complete details. You may also contact Human Resources with any questions.