Eligible faculty and staff members have the option to purchase Supplemental Life Insurance in increments of one to four times their budgeted salary as established at the beginning of the plan year. The premium cost is determined by the amount of insurance and the employee’s age on January 1 of the plan year.
The combined maximum total coverage available for Basic Life Insurance and Supplemental Life Insurance is five times budgeted salary, up to a limit of $1,500,000.
Employees may be required to submit evidence of insurability if they choose to increase the coverage amount by more than one times salary in an open enrollment period.
- Summary Plan Description. Contact the Human Resources office for a copy.