Life Insurance Plan Options
SU offers the following Life Insurance plan options for yourself and your family members through MetLife:
- SU-Sponsored Basic Life Insurance for Employees
- Supplemental Life Insurance for Employees
- Dependent Life Insurance for Spouses/Same-Sex Domestic Partners
- Dependent Life Insurance for Children
SU-Sponsored Basic Life Insurance for Employees
All benefits-eligible employees receive SU-sponsored Basic Life insurance coverage in the amount of $10,000 for staff and $50,000 for faculty. At age 65, the basic coverage drops to $6,500 for staff and $32,500 for faculty. There is no cost to you for this coverage.
Supplemental Life Insurance for Employees
Voluntary Supplemental Life insurance coverage may be purchased with premiums paid through after-tax payroll deduction.
- Coverage between 1 – 10 times salary capped at $250,000 or 1 – 10 times salary capped at $2 million (if the multiple of salary exceeds $250,000) with a completed MetLife Statement of Health form mailed directly to MetLife. Coverage exceeding $250,000 will not go into effect until MetLife notifies Human Resources of its approval.
- Premiums are automatically calculated and adjusted as necessary during the calendar year to reflect changes in your salary and age.
- MetLife offers Supplemental Life enrollees free will preparation/updating services through Hyatt Legal Services, a MetLife company, or a subsidy if you choose an outside attorney. For details, call Hyatt Legal Plans at 1-800-821-6400. The SU group number is 104161. Or, download the following information sheets:
Dependent Life Insurance for Spouses/Same-Sex Domestic Partners
Coverage may be purchased for your spouse/same-sex domestic partner in an amount not to exceed your own combined Basic and Supplemental Life coverage. Premiums are paid through after-tax payroll deduction.
- Coverage for your spouse/same-sex domestic partner may be elected in levels of $10,000 and $20,000 without providing a MetLife Statement of Health form.
- Coverage levels of $40,000, $60,000, $80,000 and $100,000 may also be elected; however a completed MetLife Statement of Health form must be mailed directly to MetLife. The coverage will not go into effect until MetLife notifies Human Resources of its approval.
- Premiums are automatically calculated and adjusted as necessary during the calendar year to reflect changes in your spouse/same-sex domestic partner’s age.
Dependent Life Insurance for Children
Dependent Life coverage may be purchased for your eligible dependent child(ren) in the amount of $10,000. Premiums are paid through after-tax payroll deduction.
- Available for unmarried dependent children under the age of 26, provided they are not eligible for coverage through their employer.
- Eligible dependents can be covered by more than one SU employee.
- Coverage cannot exceed the employee’s combined Basic and Supplemental Life coverage.
- A MetLife Statement of Health is not required to purchase this coverage.
- Eligible dependents cannot also be eligible for coverage as a University employee.
Rates listed here are based on the 12-month calendar year. Actual deductions from each paycheck will vary depending upon your deduction cycle.
|Employee Supplemental Life Insurance Monthly Rates|
|Employee Age||2015 Rates
Monthly Cost Per Thousand
Monthly Cost Per Thousand
|Under age 25||$0.05||$0.038|
|25 through 29||$0.06||$0.045|
|30 through 34||$0.08||$0.060|
|35 through 39||$0.09||$0.068|
|40 through 44||$0.12||$0.090|
|45 through 49||$0.17||$0.128|
|50 through 54||$0.27||$0.203|
|55 through 59||$0.48||$0.360|
|60 through 64||$0.73||$0.548|
|65 through 69||$1.27||$0.953|
|Spouse/Same Sex Domestic Partner Coverage Rates for 2015-2016|
|Age||Monthly Cost Per Thousand|
|Under age 25||$0.05|
|25 through 29||$0.06|
|30 through 34||$0.08|
|35 through 39||$0.09|
|40 through 44||$0.12|
|45 through 49||$0.15|
|50 through 54||$0.23|
|55 through 59||$0.43|
|60 through 64||$0.66|
|65 through 69||$1.27|
|Dependent Child(ren) Life Rate for 2015-2016|
|Coverage Amount||Monthly Premium*|
|* Premium amount remains the same, regardless of the number of children.|
The web pages summarize your Syracuse University benefit options. Every effort has been made to ensure this information is accurate. However, the programs are governed by legal documents and insurance contracts. If there is any difference between the information on these web pages and the official documents and contracts, the official documents and contracts will rule. Our benefits are governed by current laws and operated according to Internal Revenue Service (IRS) regulations. We will notify you if changes in plans are necessary to comply with the law or with IRS regulations.
Employees electing to participate in the SU benefit plans are bound by the terms of the governing Plan documents. If you have any questions regarding the plans, you may request a copy of the Plan document from the Plan Administrator by contacting the HR Service Center at the number indicated at the end of this page.
As is the case with all benefits offered by SU, (1) the Plan Administrator has the discretionary authority to interpret the terms of the Plan and such interpretation will be binding on all interested parties to the fullest extent permitted by law, and (2) the University reserves the right to modify or terminate the Plan at any time.