The College covers each eligible employee with $60,000 basic term life insurance. For eligible employees age 65, but less than 70, the basic term life coverage will be reduced to $13,000.
Voluntary supplemental life insurance in $10,000 increments up to $100,000.
You may purchase coverage for You, Your Spouse (up to of the amount you select, but only the first $10,000 is a guaranteed issue) and your Child(ren).
You will fund this coverage via payroll deduction on a post-tax basis. Any benefit paid a beneficiary is not subject to taxation.
Accidental Death and Dismemberment
The College covers each eligible employee with $60,000 accidental death and dismemberment insurance under a double indemnity feature included in the basic term life insurance described above.
A voluntary supplemental plan permits eligible employees to purchase additional accidental death and dismemberment insurance in principal amounts from $10,000 to $350,000 with the further option of providing percentage coverage thereof for spouse and children.