Group Life Insurance
Group term life insurance through The Standard
Insurance Company is offered as part of the flexible benefits program
to regular full-time and part-time faculty members. Faculty may choose
one of the following options: (1) $10,000; (2) $50,000; (3)$100,000; (4)
two times annual base salary; or (5) four times annual base salary. The
University pays the cost of insurance up to two times the annual base
salary. Faculty members who choose the "four times base salary"
option pay the difference between the University's funding and the cost
of their selection. Proof of insurability is necessary for more than $400,000
of insurance. The maximum coverage is $1,000,000.
Group life insurance is cancelled upon termination
of service, except that the full amount or a portion thereof may
be converted to an
individual policy. A faculty member must apply to the insurance company
and make appropriate payment within 31 days of separation from the
University. Application forms are available from the Office of Human
Resources. (Revised 11/94; 1/99; 9/02; 4/03)
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