College Funded Life Insurance
The College provides to each full-time employee an amount of life insurance equal to 2 times his / her annual salary rounded to the next higher multiple of $1,000, at no cost to the employee. In the event of accidental death, dismemberment, the same benefit will apply, provided the loss occurs within 365 days of an accident.
Voluntary Life Insurance and AD&D
Employees have the option to supplement their college paid group life insurance benefits by purchasing additional life insurance through a group plan. Employees can elect to increase their coverage amount and add coverage for dependents. Life insurance coverage is available in $10,000 units from a minimum of $20,000 to a maximum of $500,000, not to exceed 5 times your basic annual earnings. There is plan portability and conversion privileges with this voluntary benefit.