Life Insurance and AD&D

Life insurance and accidental death and dismemberment (AD&D) insurance help provide financial protection in the event of your death or that of a spouse/domestic partner or dependent. Through Aetna Life Insurance, the University provides basic term life and accidental death and dismemberment coverage at no cost to you. Optional life insurance, AD&D coverage, and dependent term life insurance may also be purchased at attractive group rates.

Questions? Contact Aetna Life Insurance online or call 1-888-584-2983.

Basic Group Life and Accidental Death and Dismemberment (AD&D) Insurances

Pitt provides basic term life insurance and accidental death and dismemberment coverage (AD&D) equal to one times your salary up to $50,000.

Optional Coverage

Faculty and staff may purchase optional life insurance and AD&D coverage up to six times the base salary provided certain evidence of insurability requirements are met. Optional dependent life insurance is also available at attractive group rates.

Summary Guide:

  • Disclaimer: The scope and content reflect plan provisions. There is no intent to imply or confirm participation or amounts of insurance in effect for an individual who reads this communication.

Life Insurance Beneficiary Designations for Aetna

To personally manage your beneficiary designations for Pitt group term coverage:

  1.  
    1. Visit the Aetna Life Insurance Web site for the University of Pittsburgh
    2. Select a group
    3. Under Quick Links, click on Designate a Beneficiary
    4. Make change online or download and submit the completed form according to instructions on the form

Life Insurance Beneficiary Management

You must designate a beneficiary (or beneficiaries) at the time you enroll in any of the coverages. Basic coverage is provided by the University through Aetna, and you may elect from optional programs of insurance sponsored by the University through Aetna. You need to complete only one Aetna Form.

Following initial enrollment, you may change a beneficiary designation at any time. Please check periodically to make sure your designation is current. This will help to ensure that any claim in the event of your death is fulfilled according to your wishes. Personal life events typically require a review and perhaps an update to your beneficiary designations. Personal life events include, but are not limited to:

  • Birth of a child
  • Marriage
  • Divorce
  • Death

Aetna provides a wide range of "value added" services for University of Pittsburgh faculty, staff, and retirees. Listed on the following charts is a summary of these services. To review t he full complement of services, visit their web site at: www.aetna.com/aetnalifeessentials

Support Through All Stages Of Life - Aetna Life EssentialsSM

 

Discounts and Services included in Aetna life insurance at no additional cost:

  While you're living
(caring for  yourself)
If you become ill
(caring support and resources)
After you're gone
(caring for your loved ones)
Financial Access to financial advice services Accelerated Death Benefit Financial Counseling
Legal Access to online legal services Access to in-person legal and estate planning Access to legal advice and estate planning
Emotional Access to funeral planning Access to end-of-life info Compassionate Care website and funeral planning Bereavement counseling and funeral planning
Physical Discount programs Care Advocacy  


Life Insurance Provisions for Loss of Coverage

Upon loss of University of Pittsburgh Group Term coverage for reasons of termination, retirement, or change to ineligible status, Conversion and Portability are available, according to enrollment at the time of loss and subject to the provisions of the University of Pittsburgh Group Term Policy.

  • Conversion is available for all Group Term Insurance plans – Basic Life, Basic AD&D as a rider to Life Conversion in amount equal to Conversion, Optional Life, Optional AD&D as a rider to Life Conversion in amount equal to Conversion, Dependent Life.
  • Portability is available for Optional Life and Optional Dependent Life, even without a conversion of Basic Life.
  • Portability is not available for Basic Life and also not available for Basic AD&D or Optional AD&D.

Policy Conversion

With no requirement of Evidence of Insurability (EOI), also known as a medical questionnaire, a participant may “convert” Basic Life, Basic AD&D, Optional Life, Optional AD&D and Dependent Life to an individual whole life policy.

Premium rates are not group term rates, but rather the customary rates applicable to the effective dates of any individual policies issued to any persons of the same class of insurance table age and risk. Individual policies build up cash value.

Portability

With no requirement for Evidence of Insurability (EOI), also known as a medical questionnaire, a participant may “port” Optional Life and Dependent Life. (In other words, portability is applicable only to coverage whereby the participant is responsible for the full premium costs, also known as contributory without a University contribution, with the exception of not being applicable to Optional AD&D.)

The policy issued under Portability is term insurance. Premium rates are market competitive because of the tie to group term rates and group term policy, which is fully contributory with no University contribution and does not build cash value. Coverage ends when the participant ceases to pay the premiums.

Summary/Recap Availability Required Enrollment at Time of Loss
Plans Conversion Portability
Basic Life Yes No
Basic A&D Yes, as a rider to Life Conversion in amount equal to Conversion No
Optional Life Yes Yes, even if Basic Life not Converted
Optional A&D Yes, as a rider to Life Conversion in amount equal to Conversion No
Dependent Life Yes Yes, Even if Basic Life not Converted 

Customer Service for Conversion and Portability: Contact Conversion and Portability Customer Service at 1-800-826-7448 for information about the policy and procedures, as well as deadlines for making an election and premium payments.

Note: The application and payment of the first premium must be made within 31 days of the date the coverage ends through the University of Pittsburgh Group Policy.

* Note: For faculty on less than annual appointments, the amount for insurance benefits is automatically doubled January through April; the actual monthly amount is withheld September through December.