Employee Term Life Insurance
The Research Foundation pays the premium for one times annual salary rounded to the nearest $1, 000 to a maximum of $250,000. An employee may enroll in supplemental insurance up to a lesser of five time’s annual salary or $300,000 without evidence of insurability. In addition this can be increased in units of $10,000 to a maximum of $500,000 with evidence of insurability.
Dependent Term Life Insurance
You may enroll your spouse and dependent children in a number of term life insurance programs.
Basic life ($1.00/mo): $10,000 of coverage for spouse and $5,000 for dependents.
Employee and dependent life insurance options include double indemnity in case of accidental death.
Voluntary Dependent Life insurance for a spouse may be increased in units of
$10,000 to a maximum of $250,000 (proof of insurability is required after $20,000).
Dependent coverage may be increased in units of $5,000 to a maximum of $20,000