SPEC Kit 320: Core Benefits · 49
Equivalent to full year’s salary (up to 4 x annual salary for younger faculty).
Generally, basic life insurance is 1 time the employee’s annual salary rate multiplied by the percent time of the
employee’s appointment up to a maximum benefit of $50,000.
Greater of $100,000 or two times the basic annual salary to a maximum of $200,000. Spouse and dependents receive a
flat cash amount.
One time annual salary.
One time your benefit base rounded up to the next $100 -full-time employees only.
One times salary up to $120,000 max.
One year’s salary up to $50,000.
The university pays 100% of premium for term life coverage equal to one and a half times and employee’s annual
budgeted salary, rounded to the nearest $1,000.00 not to exceed $500,000.00. Options offering coverage greater than
one and a half times employee’s annual budgeted salary and coverage for dependents: Employees can elect one to eight
times their annual salary.
Twice the annual salary.
Two times base annual salary, up to a maximum of $50,000.
Two times annual salary adjusted to the next lower even $10,000 multiple.
University provides a Basic Life Insurance policy in an amount equal to your annual base salary. A Life Insurance policy
for your spouse is $5,000 and each eligible child is $2,500.
A flat cash amount N=18
$10,000 basic term life (employee only).
$15,000 term insurance policy $15,000 seat belt incentive.
$25,000 flat cash amount—premium 100% paid by employer. Employees may purchase optional life insurance in
multiples of 1 to 5 times their annual salary.
$25,000 for each eligible employee.
$5,000 $2,500 retiree.
$5,000 policy -EE pays $3.36/month &ER pays $3.39/month.
$50,000 for employee $2,000 for spouse and each dependent.
All benefits-eligible employees receive university-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 employee for this coverage.
Basic life AD&D is $50,000 flat amount. No cost to employee. All others are optional paid by employee.
Basic life insurance is non-contributory and a flat $10,000. Employees may elect additional voluntary life insurance for
1.5, 2, or 3 times salary to an aggregate limit of $500,000. Employees pay the full cost of the voluntary insurance. The
rates are age banded.
Flat amount of $5,000 provided for employee at University expense.
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