Benefits: Open Enrollment

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.

Employees participating in Open Enrollment may elect 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).
Proof of insurability is required whether you are selecting coverage for the first time or increasing your existing coverage. A completed Statement of Health form must be mailed directly to MetLife. The increased coverage will not go into effect until MetLife notifies Human Resources of their approval.
Rates for certain age bands have decreased for 2010. Rates range from $.05 to $2.26 per $1,000 of coverage based on your age (see rate chart below). Premiums are automatically calculated and adjusted as necessary during the calendar year to reflect changes in your actual salary and age.

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 or $20,000 without providing a MetLife Statement of Health form.
Coverage levels of $40,000, $60,000, $80,000 or $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 their approval.
If you request an increase in your Supplemental Life insurance coverage and it is denied by MetLife, it may affect your Dependent Life insurance elections.
Rates range from $.05 to $2.26 per $1,000 of coverage based on your spouse/same-sex domestic partner's actual age (see rate chart below). Premiums are automatically calculated and adjusted as necessary during the calendar year to reflect changes in your spouse/same-sex domestic partner's actual 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.

Coverage cannot exceed the employee’s combined Basic and Supplemental Life coverage.
A MetLife Statement of Health form is not required to purchase this coverage.
Eligible dependents can only be covered by one SU employee.

Contributions

Employee Supplemental Coverage
Age*	Monthly Cost Per Thousand
Under age 25	$ .05
25 through 29	$ .06
30 through 34	$ .08
35 through 39	$ .09
40 through 44	$ .12
45 through 49	$ .17
50 through 54	$ .27
55 through 59	$ .48
60 through 64	$ .73
65 through 69	$1.27
70+	$2.26

For example, a 43 year old employee who selected five times his or her annual gross pay of $40,000 would have a monthly premium of $24.00 ($40,000 *5 /1000 *.12).

Spouse/Same Sex Domestic Partner Coverage
Age	Monthly Cost Per Thousand
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

For example, an employee who has a 45 year old spouse/same sex domestic partner and selected $100,000 insurance coverage would have a monthly premium of $15.00 ($100,000 /1000*.15 ).

Dependent Child(ren) Life
Coverage Amount	Monthly Premium*
$10,000	$.55
* Premium amount remains the same, regardless of the number of children.

Rates listed here are based on the 12-month calendar year. Actual deductions from each paycheck will vary depending upon your deduction cycle.

Before you decide, consider the following:

Do you have access to other life insurance?
Will your personal savings provide an adequate cushion for your family's needs (college tuition, mortgage and other loan payments, living expenses, etc.) in the event of loss of income?
Are you 65 years of age or older? The Basic Life insurance coverage SU provides ($10,000 for staff, $50,000 for faculty) is reduced at age 65 to $6,500 and $32,500, respectively, and you may wish to supplement this coverage. In addition, Dependent Life insurance elections may be affected if they exceed the amount of your own coverage as a result of this Basic Life insurance reduction.

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The Open Enrollment webpages 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 webpages and the official documents and contracts, the official documents and contracts will rule. SU 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.

Helpful Links

Interactive Online Statement of Health (Employee Only)
MetLife
Statement of Health Form (Printable form for Employee and Spouse and Same-Sex Domestic Partner)

Need help? HR staff is available to assist you. Call the HR Service Center at 315-443-4042, or email hrservic@syr.edu.