Life Insurance Basic w/ ADD
In addition to the Basic Term Life Insurance provided by the College, eligible employees may purchase Voluntary Life Insurance.
Eligible employees may purchase additional life insurance for themselves, their spouse or for dependent children.
Additional Coverage for Employee:
Employees can purchase additional life insurance in increments of $10,000 to a maximum of $500,000 or 5x pay. Except for new hires, all additional life insurance will require evidence of insurability and employees must complete a Statement of Health Form.
Life Insurance for Spouse:
Employees can also purchase life insurance for a spouse, however, the amount cannot exceed 50% of the employee’s combined benefit. Spousal coverage is available in increments of $5,000 up to $100,000. Except for new hires, all additional life insurance for spousal coverage will require evidence of insurability and employees must complete a Statement Health Form.
Life Insurance for Dependent Children:
Employees may also purchase life insurance for dependent children in a flat amount of either $1,000, $2,000, $4,000, $5,000 or $10,000. The maximum amount is $10,000.
The carrier of Voluntary Life Insurance is Metropolitan Life.
Former employees who wish to transfer their life insurance should review this information.