Life Insurance

Term-Life Insurance Plan

All eligible employees are covered under the College's basic group term-life and accidental death and dismemberment (AD&D) insurance plan and may choose to be covered under the supplemental plan. Coverage is available the first day of the month coinciding with or immediately following date of employment. Employees must complete an enrollment form within 31 days of hire. The College currently purchases its term-life insurance from Lincoln Financial Group. Specific details about this benefit may be found in the group life insurance summary plan description / certificate.  Links to these certificates can be found here:

Basic Term-Life Insurance Plan

The College pays the full cost for eligible employee's basic coverage, in the amount of one times the annual salary to a maximum of $25,000, and a minimum of $15,000 in coverage. The employee must complete an enrollment form designating a beneficiary(ies). The basic coverage is not taxable, as the IRS allows employers to provide up to $25,000 in life insurance coverage for its employees.

If you continue to work past the age of 65, your basic life insurance will be reduced.

  • 65% coverage at age 65
  • 45% coverage at age 70
  • 30% coverage at age 75
  • 20% coverage at age 80

These reductions only affect BASIC coverage and do not affect any supplemental coverage you may have purchased. 

Supplemental Term-Life Insurance Plan

You may purchase additional coverage in the amount of one to five times your salary to a maximum of $500,000 in term-life insurance. You must complete a Medical History Statement of Health form to be reviewed and approved by Lincoln Financial Group in order to be eligible for the supplemental life insurance, if you do not enroll within 31 days of hire. You will also need to complete a medical history statement form if you are a reinstated employee, a member not insured under the prior plan, or wish to purchase insurance in an amount greater than $250,000.

→ Life & Long-Term Disability Insurance Forms, Documents & Tools