How Group Life Insurance Works

Your Options

Basic Life Insurance

A Benefits-Eligible Employee is automatically covered under Basic Life Insurance. Full-time employees receive $12,000 of coverage. Part-time employees receive $6,000 of coverage.

Supplemental Life Insurance

You may choose to buy additional life insurance under Supplemental Life Insurance. You have four options. The amount of each option depends on your age and is equal to a factor multiplied by your annual Salary, as shown in the table below. The amount of life insurance coverage will be rounded up to the next $1,000 of coverage.

Your Age	Supplemental Life Insurance Options (Multiply the factor under each option by your annual Salary; see the examples below. This amount is in addition to Basic coverage)				Maximum Amount of Coverage*
	1	2	3	4
Under 65	1.00	2.00	3.00	4.00	$1,000,000
65 - 69	0.65	1.30	1.95	2.60	$650,000
70 - 74	0.42	0.85	1.27	1.69	$420,000
75 and over	0.27	0.55	0.83	1.10	$270,000

* Basic and Supplemental Life Insurance combined.

Here are some examples of the coverage Supplemental Life Insurance, combined with Basic Life Insurance, provide in different situations.

For Example
John, age 35, earns $49,700 a year. He chooses Option 2. When he dies, his Beneficiary will receive $100,000.	Annual Salary	$49,700
	Factor for age 35 and Option 2	x 2.00
	Total	$99,400
	Rounded to the next $1,000	$100,000
Mary is 66 years old and earns $75,000 a year. She chooses Option 3. When she dies, her Beneficiary will receive $147,000.	Annual Salary	$75,000
	Factor for age 66 and Option 3	x 1.95
	Total	$146,250
	Rounded to the next $1,000	$147,000

Based on the above example, the two employees’ costs for the same coverage would be different depending on whether they are full-time or part-time employees as shown below.

For Example
John's coverage is $100,000.
If John is a full-time employee, he would pay for $88,000 of coverage.	Combined Basic and Supplemental Life Insurance coverage of	$100,000
	University pays for	- $12,000
	John pays for	$88,000
If John is a part-time employee, he would pay for $94,000 of coverage.	Combined Basic and Supplemental Life Insurance coverage of	$100,000
	University pays for	- $6,000
	John pays for	$94,000
Mary's coverage is $147,000.
If Mary is a full-time employee, she would pay for $135,000 of coverage.	Combined Basic and Supplemental Life Insurance coverage of	$147,000
	University pays for	- $12,000
	Mary pays for	$135,000
If Mary is a part-time employee, she would pay for $141,000 of coverage.	Combined Basic and Supplemental Life Insurance coverage of	$147,000
	University pays for	- $6,000
	Mary pays for	$141,000

While this Summary Plan Description summarizes the major provisions of this plan, it does not provide you with every plan detail. The plan documents, which govern this plan, provide full details. If there are any discrepancies between this Summary Plan Description and the legal plan documents, the legal plan documents control.