Employee Life Insurance
and Accidental Death & Dismemberment Coverage

 

Eligibility
Active full-time non-student employees are eligible if the most recent appointment period is continuous for a minimum of one year (nine or twelve months as appropriate to the appointment).

Enrollment and Coverage
All eligible employees receive free of charge, one times annual base salary up to a maximum of $35,000. Optional Life Insurance and Accidental Death & Dismemberment (AD&D) coverage for employee, spouse, and dependent children is available and paid for by the employee. A statement of health is not required if application is made within 30 days following the date of initial eligibility. If an employee rejects the optional insurance and decides later to apply for coverage, he/she may make application at any time by furnishing a satisfactory Medical History Statement.

Travel Assistance (Domestic and International)
Standard Insurance, our provider for Group Life Insurance and Optional Voluntary Life and Accidental Death & Dismemberment (AD&D), also provides Travel Assistance to all employees who are covered by the Group Life Insurance. If you, or any member of your immediate family (including children up to age 26), are travelling more than 100 miles from home, including internationally, then FrontierMEDEX can help you with any problems you may encounter. Please see the MedEx Employee Brochure for details of the services provided and print the card from page seven to carry with you when you travel.

Portability and Conversion
Upon termination of employment, the optional voluntary life insurance may be ported to a term life insurance policy if application is made within 30 days from the date of termination of employment with Auburn University. The basic coverage provided by Auburn University ends upon termination but it may, under certain circumstances, be converted to a whole life policy.

R A T E   S H E E T
AUBURN UNIVERSITY
Rates Effective: March 1, 2000
Optional Term Life* (Employee) and Dependent Term Life* (Spouse)
Age
(Initial rates based on age as of effective date of your coverage. Rates will change based on the following age schedule.)
Monthly Cost of Insurance
(Rates per $1,000 of Coverage)

For Employee and Spouse**
18-pay Cost of Insurance
(Rates per $1,000 of Coverage)

For Employee and Spouse**
Biweekly Cost of Insurance
(Rates per $1,000 of Coverage)

For Employee and Spouse**
Under 25 $ 0.050 $ 0.0340 $ 0.023
25-29 $ 0.060 $ 0.0400 $ 0.028
30-34 $ 0.080 $ 0.0530 $ 0.037
35-39 $ 0.100 $ 0.0667 $ 0.046
40-44 $ 0.120 $ 0.0800 $ 0.055
45-49 $ 0.180 $ 0.1200 $ 0.083
50-54 $ 0.260 $ 0.1733 $ 0.120
55-59 $ 0.490 $ 0.3267 $ 0.226
60-64 $ 0.760 $ 0.5067 $ 0.351
65-69 $ 1.458 $ .9722 $ 0.673
70+ $ 2.365 $ 1.5767 $ 1.092
** Spouse rate is based on employee's age.

 

Dependent Term Life* (Child(ren) - Regardless of the number of children)
Coverage Amount Monthly Cost of Insurance
(Rates per $1,000 of Coverage)
18-pay Cost of Insurance
(Rates per $1,000 of Coverage)
Biweekly Cost of Insurance
(Rates per $1,000 of Coverage)
$ 5,000 $ 0.120 $ 0.080 $ 0.055
$ 10,000 $ 0.120 $ 0.080 $ 0.055

 

Optional AD&D*
Insured Monthly Cost of Insurance
(Rates per $1,000 of Coverage)
18-pay Cost of Insurance
(Rates per $1,000 of Coverage)
Biweekly Cost of Insurance
(Rates per $1,000 of Coverage)
Children for $5,000 $ 0.012 $ 0.008 $ 0.0055
Children for $10,000 $ 0.012 $ 0.008 $ 0.0055
Employee & Spouse $ 0.012 $ 0.008 $ 0.0055

*This is optional coverage and the entire cost of coverage is employee paid.

 

Supplementary Life Insurance
Active full-time non-students and their dependents may be eligible to purchase universal life insurance on a payroll deduction basis. These policies may be continued on a direct bill basis upon termination of employment with Auburn University. Please contact the local representative at 334-887-5533 or toll free 866-887-5533.

Payroll & Employee Benefits
212 Ingram Hall      Auburn University, AL 36849      Phone 334-844-4183      Fax 334-844-1799

Auburn University | Auburn, Alabama 36849 | (334) 844-4000
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