College Policy Number/Title:

• 63.07  Benefits

The college has a group life insurance plan and an accidental death and dismemberment (AD&D) plan which provides full-time position control/budgeted faculty and staff members with life insurance amounting to twice their annual salary, not to exceed $200,000.  It is the employee's responsibility to complete the necessary form for this plan and to keep the office of human resources informed of the latest beneficiary status.  The application must be processed within 30 days from the date of initial full-time college employment.  Medical examinations are not required for the basic life insurance.

Federal law requires that additional taxes must be withheld based on the value of the benefit on life insurance in excess of $50,000.  This affects all full-time position control/budgeted employees who make $25,000 or more a year.  The Internal Revenue Service has specific tables which are based on age to determine the additional tax to be withheld.

Upon resignation, an employee will be offered the opportunity to convert the life insurance policy from a group policy to an individual policy.

If you are a full-time position control/budgeted employee, you can elect to purchase portable supplemental life and AD&D insurance for yourself and your spouse or same-sex domestic partner.  If you, your spouse or same-sex domestic partner enrolls, you may also elect coverage in the amount of $5,000 or $10,000 for children between the ages of six months and 19 years of age (to 25 if full-time student and limited coverage for children age 14 days to six months).  You can buy coverage in units of $10,000 up to $500,000 for Life and $250,000 for AD&D.  The minimum purchase amount is $20,000.

Coverage is not automatic.  To obtain supplemental coverage up to $40,000, you must answer a health questionnaire as part of the application process.  If you want supplemental coverage in excess of $40,000, you must complete a medical questionnaire.  You may be required to submit more detailed medical information, and your application will be accepted or rejected based on this information.  Spouse or domestic partners must complete Affidavit.   Payroll deductions for supplemental life/AD&D insurance will not begin until your application for benefits has been approved.  The insurance becomes effective the first day of the following month after approval (e.g., approval: 8/9 – effective date: 9/1).

Coverage is portable.  When you leave employment with the college, you can continue your supplemental coverage at group rates and will be billed directly by the life insurance company.  A small billing fee is added to cover administrative costs.  Your coverage will remain in effect even if the college decides to cancel the policy.  Additional information is available in the office of human resources.