USI » Human Resources » Benefits » Voluntary Group Term Life Insurance

Voluntary Group Term Life Insurance

Voluntary group term life insurance offers employees the ability to purchase additional term life insurance at low group rates on a payroll deduction basis for themselves, their spouses and/or dependent children. Employees may purchase up to $500,000 or five times annual earnings, whichever is less. This life insurance program is offered by Prudential Insurance Company of America. Please note that this insurance plan is voluntary and is offered as a supplement to University-provided life insurance.

All new employees under the age of 60 hired on or after July 1, 1999, are eligible to receive the guaranteed issued policy amount of $100,000 if enrollment occurs during the first 31 days of employment. Employees who enroll in this voluntary life insurance benefit after this eligibility period, waive their rights to the guaranteed issue amount.

Present employees may enroll or change enrollment elections at any time. A medical questionnaire is required.

Employee Coverage

Employees are eligible to supplement their life insurance coverage through this program. Employees may purchase life insurance in increments of $10,000. The elected amount may not exceed $500,000 or five times the annual base salary, whichever is less. If you previously waived coverage and would now like to enroll, please contact the Human Resources department for forms and plan information.

Spouse Coverage

Employees may purchase life insurance coverage for their spouse in $5,000 increments, not to exceed $200,000. Spouse coverage may not exceed 50% of the employee's coverage amount. The conditional guarantee issue amount for spouses is $20,000.

Dependent Coverage

Employees may purchase life insurance coverage for their dependent children. The choices are $2,500, $5,000, $7,500, or $10,000. Coverage may not exceed 50% of the employees coverage amount. This insurance covers all your dependent children for one premium. Dependent children are covered under the policy until the end of the calendar year in which they turn 24.

Enrollments kits are available on-line. If you prefer to receive a paper copy, please contact Amy Miller in Human Resources.

If you have questions regarding voluntary group term life insurance or open enrollment, please contact the Human Resources Department at 464-1781 or 461-5466 or 464-1988.

The University of Southern Indiana is an equal employment opportunity/affirmative action employer. It is the policy of the University of Southern Indiana to be in full compliance with all federal and state non-discrimination and equal opportunity laws, orders and regulations relating to race, sex, religion, disability, age, national origin, sexual orientation or status as a disabled veteran or veteran of the Vietnam era. Questions or concerns should be directed to the Affirmative Action Officer, USI Human Resources Department, 8600 University Boulevard, Evansville, IN 47712.

8600 University Boulevard - Evansville, IN 47712-3596 - 812/464-8600