An open enrollment for life insurance is scheduled from Nov. 10-16, 2021, for employees who would like to add or increase their coverage levels. No action is required for employees that want to keep their coverage levels the same.

Below is a brief summary of the highlights of the life insurance plans:

• Basic Life Insurance Coverage is $25,000, and this coverage is paid by the University.
• Supplemental Life Insurance
  • Employee-paid benefit
  • Eligible employees may elect 1x, 2x, 3x, 4x, or 5x base salary coverage rounded to the next higher multiple of $1,000
  • The maximum amount of coverage available is $750,000
  • The guarantee issue limit is the lesser of 5x base salary or $100,000
• Dependent Life Insurance
  • Employee-paid benefit
  • Dependent life insurance can be purchased in amounts of $5,000, $10,000 and $15,000 coverage plans
  • Eligible dependents include your spouse and children up to age 26.
  • A child’s coverage will end on the first day of the calendar year following the child’s 26th birthday.
• Accidental Death and Dismemberment, paid by the University.
• Long-term Disability, paid by the University.
• The benefit coverages above are reduced to 65% at age 65, to 42% at age 70, to 27% at age 75, to 20% at age 80, and 15% at age 85, to 12% at age 90, and to 9% at age 95.

No Medical Underwriting Required

Unum Life will allow benefit eligible employees a one-time opportunity to add or increase life insurance benefits during this open enrollment. Employees may increase their supplemental life insurance up to 5x their base salary coverage or $100,000 guarantee issue, whichever is the lesser, without medical underwriting. Dependent life insurance coverages may also be made during open enrollment without medical underwriting. Employees may add or increase dependent coverage amounts up to the $15,000 maximum. To add coverage in either category, employees must complete the Group Life Insurance Form and return to Human Resources by Nov. 16, 2021. 

When Medical Underwriting is Required

If an employee would like to increase their supplemental life insurance greater than the guarantee issue amount of $100,000, they will need to complete the Group Life Insurance Form and return to Human Resources by Nov. 16, 2021. In addition to the form, employees must complete the online Evidence of Insurability (EOI) application. The link and instructions are available on the Human Resources tab on the employee Portal. You will find the information under Life Insurance Open Enrollment. The Group Life Insurance form and online EOI application must be completed by Nov. 16, 2021.  

Employees may review their current elections on the employee portal. Log in to the Employee SS and select the Benefits Statement. Life Insurance coverage and dependents are displayed on this statement. 

No action is required for employees that want to keep their coverage levels the same.

If you have any questions regarding the Life Open Enrollment process, contact your Human Resources Specialist or you may call the Human Resources at (573) 651-2206.