OM 8.1.10 Group Life Insurance - Cigna
About This Policy
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Effective Date: July 1987 |
Policy Contact: Human Resources |
Policy
These plans provide faculty and administrative, supervisory, and general staff with basic life insurance plus the option of buying additional coverage.
- Basic Coverage – Cigna. All active employees are covered for an amount of life insurance equal to their annual salary rounded to the next $500.00. The minimum benefit is $17,500 and the maximum benefit is $70,000. There is no charge to the employee for this basic amount of insurance. Benefits are reduced at age seventy according to plan provisions.
- Accidental Death and Dismemberment - Cigna. All active employees are covered for an amount of accidental death and dismemberment benefit equal to their annual salary rounded to the next $500. The maximum benefit is $70,000. There is no charge to the employee for this benefit. Benefits are reduced at age seventy-five according to plan provisions.
- Voluntary Life Insurance Coverage – Cigna. All active employees are eligible to purchase additional life insurance up to 3x’s their annual salary up to $500,000. Upon hire employees have 30 days to elect up to $150,000 without providing medical history form. After the 30 days have passed, employees will be required to submit a medical history form for any voluntary amount elected. Payment is through payroll deduction. The Human Resources Office will provide information on this optional coverage upon request.