Group Term Life, Accidental Death and Dismemberment (AD&D),
Dependent Term Life Insurances -
July 1, 2008 - June 30, 2009
Life Insurance and Accidental Death and Dismemberment (AD&D) help provide
financial protection in the event of your death or that of a spouse/partner or
dependent. Optional life, optional AD&D and Dependent Life are fully
employee paid and cost does not reduce federal and state taxes. There is no
taxation on imputed value.
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Policy Conversion
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Subject to the terms of the Group Policy, the conversion feature allows
an employee to continue Basic Life, Optional Life and Dependent Life.
The conversion feature is an option for employees who do not qualify for
portability or when portability is not available (Basic Life). It
enables an employee to convert their coverage to an individual insurance
policy when their group coverage ceases. No medical examination is
required, but application and payment of the first premium must be made
within 31 days of the date Group Insurance terminates.
Portability/Conversion Customer Service number 1-800-826-7448.
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Portability
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The portability feature applies only to Optional Life and Dependent
Life. This feature allows employees to continue their optional
life coverage upon employment termination or retirement.
Employees will be billed directly by Aetna, until they reach the
age limit as specified in the plan or until they cancel the coverage.
Portability also applies to coverage for spouses.partners and child(ren).
Portability/Conversion Customer Service number 1-800-826-7448.
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* 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.
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