Life Insurance Underwritten by CIGNA
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 25 | $0.04 |
| 25 - 29 | $0.05 |
| 30 - 34 | $0.07 |
| 35 - 39 | $0.08 |
| 40 - 44 | $0.09 |
| 45 - 49 | $0.13 |
| 50 - 54 | $0.20 |
| 55 - 59 | $0.37 |
| 60 - 64 | $0.56 |
| 65 - 69 | $1.08 |
| 70+ | $1.75 |
Dependent life insurance rates:
| Level | Monthly Premium |
|---|---|
| $5,000 | $1.74 |
| $10,000 | $3.48 |
| $15,000 | $5.22 |
Dependent life insurance rates are a flat-fee no matter how many qualifying dependents are covered.
Please note that these premiums are based on a 12-month pay schedule. Rates for employees paid over 9 months will be pro-rated accordingly.