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Human Resources

Benefits

Group Term Life Insurance

The College provides group term life insurance coverage equivalent to one times annual salary through a policy with an established life insurance carrier at no cost to the employee.

Supplemental group term life coverage in the amount of one and a half or three times annual salary is available. Employees are responsible for the full cost of any supplemental coverage at the following monthly rates (as of January 1 of each year, per $1,000 of coverage):

Age Under 25 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70+
Rate .042 .047 .056 .060 .064 .087 .122 .211 .313 .585 .936

The face amount available for employees age 70 and over is reduced to 65%. At age 75, the face amount available is reduced to 40%.

Total coverage is limited to $500,000. Both basic and supplemental coverage include an accidental death and dismemberment provision. Current rates may be obtained from Human Resources , x4689.

Conversion to a personal policy is available at the time of retirement or termination, at which time the full cost is assumed by the individual insured.

Cupola