Life insurance

The university funds a life insurance program for full-time, permanent faculty members with the rank of assistant professor or higher and with a three-or-more-year contract. The benefits are $25,000 for life coverage and an additional $25,000 for accidental death and dismemberment.

Additional amounts of life insurance may be purchased at $.18 per thousand per month. This is a composite rate that does not increase based on age. New faculty and staff may purchase up to $100,000 in the first thirty days of employment without providing evidence of insurability. Amounts in excess of $100,000, or insurance applied for after the initial enrollment period require evidence of insurability. Call Human Resources for more information.

Faculty members who are under the Teachers and State Employees Retirement System are also covered by a death benefit under that program. After paying into the system for one year, the employee's beneficiary would receive a lump-sum payment equal to the last year's salary with a minimum of $25,000 and a maximum of $50,000.