Section: Personnel
Policy Number: 4-74
Policy Name:GROUP LIFE INSURANCE
Date: May 1999

POLICY

The University offers group term life insurance through the flexible benefits program to eligible full-time and part-time employees except for "visiting" classifications. There are five options available:

  • $10,000
  • $50,000
  • $100,00
  • two times annual base salary, and
  • four times annual base salary

Proof of insurability is necessary for more than $400,000 of insurance. The maximum coverage is $1,000,000.

Life insurance is effective on the date of employment that an employee becomes eligible. If proof of insurability is required (example: four times salary option exceeds $400,000), the default coverage is two times salary during the period that TIAA evaluates the Insured's medical history.

Group life insurance is canceled upon separation from service, except that the full amount or a portion thereof may be converted to an individual non-group policy within 31 days of the separation date. In addition, University retirees have a one-time opportunity at retirement to continue term life insurance at group rates.

All forms pertinent to this program, including conversion forms and beneficiary change forms, are available from the Benefits Office.

Submitted by: Benefits Services