Basic life insurance ↝ Life insurance

Basic Group Life Insurance, Lakehead University

The Lakehead University Basic Group Life insurance that is paid for 100% by the University, (with the exception of part time COPE employees that have a 50/50 plan). Depending on your employment type you are eligible for coverage that is based on a multiple factor of your current salary. The age of termination for Basic Life Insurance is 71. If, while insured, you die, SunLife will pay the amount of your life insurance to the last legally nominated beneficiary as filed. In the absence of a beneficiary nomination, payment will be made to your estate. You may name the beneficiary of your choice or your estate. All nominations made by you are revocable unless you otherwise stipulate. If you...

Is Your Group Basic Life Insurance Coverage Enough?

This is a good question and one that all employees should visit from time to time. A life insurance policy pays a cash benefit, tax free, to your beneficiaries if you die while insured. Your employee benefit plan likely has a Basic Life insurance component of $25,000 or perhaps one times your salary. It’s important that you are aware how that plays into your financial planning in the event of your death. What are you hoping your insurance will provide for your family? Some people just want enough to cover their funeral costs and final taxes. Others want enough to pay off their mortgage or to cover some of the living expenses of dependents or to pay for their children’s post...

Group Basic Life and AD D, Benefits, New Mexico State University

Group Basic Life and AD&D Life insurance is a valuable tool to provide for our loved ones in the event of premature death. Contributions are made by payroll deduction and the University pays a percentage based on employee salary. The amount of coverage is equal to two times the employee salary, rounded up to the next highest thousand with the maximum benefit being $75,000. This benefit includes an accidental death and dismemberment benefit equal to the basic life insurance policy. The total cost is.25 cents per $1,000 of coverage. Please note that 9-month employee annual premiums are paid over the academic year. Eligibility Eligible employees are considered regular status employees and...

Federal Employees Group Life Insurance, National Finance Center

Federal Employees' Group Life Insurance Federal Employee's Group Life Insurance (FEGLI) consists of Basic life insurance coverage and three options. In most cases, if you are a new Federal employee, you are automatically covered by Basic life insurance and your payroll office deducts premiums from your paycheck unless you waive the coverage. In addition to the Basic, there are three forms of Optional insurance you can elect. You must have Basic insurance in order to elect any of the options. Unlike Basic, enrollment in Optional insurance is not automatic -- you must take action to elect the options. The cost of Basic insurance is shared between you and the Government. You pay two-thirds of...

Life Insurance - Human Resources

The Massachusetts Group Insurance Commission (GIC) offers eligible employees a optional life insurance & accidental death and dismemberment coverage options. Plan overview and premiums are available in the GIC Benefit Decision Guide. Life Insurance carrier is The Hartford, 1.617.727.2310 ext. 1 Basic Life Insurance Basic Life Insurance is a flat $5,000 benefit for which employees contribute 20% or 25% of the premium (based on date of hire). Optional Term Life Insurance with AD&D Optional term life insurance is available as a flat rate in increments up to $1,000 less than the employee’s annual salary or as a multiple (1-8 times) of base annual salary. Life insurance purchased...

Life Insurance, Human Resources - Wesleyan University

Basic life insurance is fully paid by the university. Coverage equals one times salary up to $50,000. Eligible employees are automatically enrolled in this benefit. Employee Life Insurance: Optional employee life insurance that is fully paid by the participant. You can apply for up to five times your salary up to $750,000. Maximum guarantee issue amount is $200,000. Participant payments for life insurance are automatically deducted from faculty or staff member’s pay. Spouse/Partner Life Insurance: Optional insurance that is fully paid by the participant. Spouse/partner can apply in increments of $10,000 up to $100,000. Maximum guarantee issue amount...

Life Disability Insurance

Basic Life Insurance At no cost to you, NYU provides all eligible employees with basic life insurance coverage of $50,000, administered by The Prudential Insurance Company of America. Supplemental Life Insurance For new hires, the maximum amount of guaranteed issue insurance under this supplemental schedule is three times your annual base salary. Additional coverage of up to eight times your annual base salary, up to a maximum of $1,000,000, is available with evidence of insurability (EOI) satisfactory to Prudential. The monthly cost for supplemental insurance will be determined by the amount elected, by your attained age as of the January 1 coincident with or following your birthday, and...

Is Life Insurance A Necessity?,

Recently published statistics on individuals with life insurance reveals a gloomy picture in which only 33% of USA citizens currently have life insurance. Life insurance is an insurance policy that acts as a cushion for dependents and other family members in case the breadwinner passes away. However, the importance of such a policy is often poorly understood, as evidenced by the statistics. Importance of Life Insurance Unfortunate events such as death or serious illness come without warning, and therefore it is of utmost importance that all your plans are already in place. Life insurance acts as a contingency plan allowing your family members to easily pay off your individual debt and...

FEGLI Basic - Know All About the Fegli Basic and Fegli Option

is not affiliated with OFEGLI, the Office of Personnel Management, or any government agency. The Federal Employees’ Group Life Insurance (FEGLI) program is a federal life insurance program administered by the federal Office of Personnel Management (OPM). The Office of Federal Employees’ Group Life Insurance (OFEGLI) has been established to process and pay claims and perform other administrative and FEGLI basic functions needed to run the program. All full-time and part-time federal employees who have an appointment of more than one year are eligible to participate in the federal life insurance plan. Participation is entirely voluntary. However, eligible employees are automatically covered...

Learn about basic life Insurance terms and phrases

Life insurance basics with TruStage You might already know why you should get life insurance (and if you don’t, read our Introduction to Life Insurance for starters), but the research is making things more confusing by the second. We know just how confusing and complicated life insurance can be. We also know it’s our responsibility to pass on that knowledge to you and help you understand the ins and outs of your policy. Here’s our TruStage breakdown of the basics of life insurance. Common Words and Phrases in Life Insurance Beneficiary The beneficiary of a life insurance policy is the person, organization or trust that you define as receiving the life insurance payout. If...