Benefits - Life Insurance Plan

Benefits

Life Insurance Plan

Basic Life

All benefits eligible employees receive basic life insurance coverage from the University at no cost, as follows:

At 65, basic coverage drops to $6,500 for staff and $32,500 for faculty.

Supplemental Life

Voluntary supplemental life insurance coverage is offered through MetLife. Premiums are paid through after-tax payroll deduction.

Employee

Coverage between one and ten times salary (not to exceed $2,000,000) may be purchased.
Premiums are automatically calculated and adjusted as necessary during the calendar year based on the employee's actual salary and actual age.
A completed MetLife Statement of Health form is required and coverage must be approved by MetLife.

Spouse/Same Sex Domestic Partner

Coverage in an amount not to exceed the employee's own combined basic and supplemental life coverage may be purchased for an employee's spouse/same sex domestic partner.
Coverage levels of $10,000 and $20,000 do not require a Statement of Health.
Coverage levels of $40,000, $60,000, $80,000 and $100,000 require a completed Statement of Health form submitted to and approved by MetLife.

Children

Coverage in the amount of $10,000 may be purchased, as long as this coverage does not exceed the employee's own coverage.
A Statement of Health is not required.
Eligible dependents can only be covered by one SU employee.

Contributions

Age	Monthly Premium
Spouse/Same Sex Domestic Partner Coverage
Under age 25	$.05
25 through 29	$.06
30 through 34	$.08
35 through 39	$.09
40 through 44	$.12
45 through 49	$.15
50 through 54	$.23
55 through 59	$.43
60 through 64	$.66
65 through 69	$1.27
70+	$2.26

Option	Coverage Amount	Monthly Premium**
Dependent Child(ren) Life*
1	$10,000	$.55

* Dependents can only be covered by one SU Employee.
** Premium amount remains the same, regardless of the number of children.

Helpful Links

Questions? Contact the HR Service Center at 443-4042 or email hrservic@syr.edu.