The
University's Group Life Insurance Program is insured by the Prudential
Insurance Company. In the event of your death, the amount of your
Group Life Insurance will be paid to the beneficiary of your choice.
Base Plan:
The first component of the Life Insurance Program
provides insurance in the amount of one times the covered employee's
base annual or contract salary - up to a maximum of $400,000.
The
entire premium for the Base Plan is paid by Saint Louis University,
and becomes effective on your date of full time employment.
Optional Coverage:
You may select additional levels of life insurance
equal to one, two, or three times your base annual salary, with
a maximum amount of $400,000 between the base and optional coverage.
The optional insurance will be at your cost.
The
monthly cost for optional coverage is based upon the participating
employee's age according to the schedule below.
|
Age
|
Monthly
Rate Factor
|
|
Less
than 30
|
.000043
|
|
30-34
|
.000057
|
|
35-39
|
.000065
|
|
40-44
|
.000079
|
|
45-49
|
.000136
|
|
50-54
|
.000243
|
|
55-59
|
.000421
|
|
60-64
|
.000642
|
|
65-69
|
.001070
|
|
70-74
|
.001683
|
|
75+
|
.002696
|
To calculate
the premium for an additional one, two or three times your annual
salary, multiply your annual salary by the monthly rate factor
that corresponds to your age. This amount will equal the premium
for each optional 1x's annual salary benefit amount.
State-Specific
Requirements
There
are state-specific requirements that may change the provisions
under the Coverage(s) described in your Group Insurance Certificate.
If you live in a state that has such requirements, those requirements
will apply to your Coverage(s) and are made a part of your Group
Insurance Certificate. Prudential has a website that describes
these state-specific requirements. You may access the website
at www.prudential.com/etonline. When you access the website, you
will be asked to enter your state of residence and your Access
Code. Your Access Code is 56920.
If you
are unable to access this website, want to receive a printed copy
of these requirements or have any questions, call Prudential at
1-866-439-9026.
Dependent
Coverage
The
Dependent Life insurance Plan includes $25,000 spouse benefit
and $12,500 benefit for each eligible dependent child. The rate
for dependent coverage is $4.35 monthly or $2.01 biweekly. This
program is optional and is paid by the employee.
Beneficiaries
- "Beneficiary"
means a person or entity, such as a trust or estate, chosen
on a form approved by Prudential, to receive the insurance
benefits.
- You may change
Beneficiaries at any time.
- Change of Beneficiary
forms are available in the Benefits Office, and also by clicking
this link.
Changing Life
Insurance
