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):
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
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.