Life Insurance Underwritten by Standard
Term life insurance coverage equal to the employee's annual salary is paid by the University. Employees may purchase additional coverage up to three times their annual salaries through payroll deduction. Term life insurance is also available for eligible dependents in amounts of $5,000, $10,000 or $15,000.
Additional life insurance rates:
| Age | Premium per $1,000 annual salary |
|---|---|
| Under 40 | $0.06 |
| 40-49 | $0.15 |
| 50-64 | $0.54 |
| 65 and older | $1.08 |
Dependent life insurance rates:
| Level | Monthly Premium |
|---|---|
| $5,000 | $2.05 |
| $10,000 | $4.10 |
| $15,000 | $6.15 |
Dependent life insurance rates are a flat-fee no matter how many qualifying dependents are covered.
To increase your coverage, the following form must be completed and approved by the Standard before any change may be made: http://www.standard.com/eforms/9345.pdf.