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Supplemental Life Insurance Plan
WHO IS ELIGIBLE
Regular employees working 20 or more hours per week are eligible for Supplemental Life Insurance.
WHEN COVERAGE BEGINS
Coverage begins the first day of the month coincident with or next following the month in which you complete the enrollment form. You must enroll in the plan within 31 days of your hire date or you may elect to enroll by one salary level during the annual open enrollment without providing evidence of insurability.
SUMMARY OF COVERAGE PROVISIONS
You can purchase additional life insurance for yourself, your spouse and/or your dependent children through payroll deduction. You may purchase units (1 - 4 x your salary) for yourself, units of $10, 000, $25,000, or $50,000 for your spouse/domestic partner and units of $5,000 or $10,000 for child(ren). No evidence of insurability is required for 1x salary, your current election, or one level higher than your current election up to $350,000.
COST
You pay 100% of the cost for this additional term life insurance. Coverage for yourself will be deducted on a pre-tax basis, and contributions for coverage for a spouse/domestic partner and/or dependents will be subject to state, federal and FICA taxes.
ADDITIONAL INFORMATION
This is a portable plan. Should you leave the employment of the College, you may elect to keep your term life insurance coverage and or spousal/dependent coverage and pay the insurance company directly. This is possible providing that you and or your dependent have not as yet attained normal retirement age as defined under the 1983 United States Social Security Act, and amendments thereto.