Group Term Life Insurance

Basic: University-paid group term life insurance is equal to one times the annual salary rounded to the next higher $1,000, and capped at the plan’s maximum of $50,000, but not less than $10,000.

Optional: Subject to certain proof of insurability requirements, employees may purchase optional life insurance in amounts up to six times the annualized salary, rounded to the next higher $1,000, up to the plan’s maximum.  Employees pay the full cost of optional life insurance according to an age-graded rate schedule.