Page 24 - 2018 SLU New Hire Guide
P. 24
Life Insurance
New Hire Enrollment
During your initial new hire eligibility Base Plan
period, Symetra will allow you to
elect coverage to the guaranteed Term Life Insurance
issue amounts without submitting
evidence of insurability. However, if We know inancial security and planning is a top priority for you. This
you waive coverage during your new is why Saint Louis University partners with Symetra to provide full-time
hire enrollment period, evidence of employees with term life insurance. Your coverage is equal to 1× your
insurability will be required if you want base annual salary up to a maximum of $400,000. Upon reaching age 70,
to elect coverage in the future.
your beneit decreases by 50%. The entire premium for the base plan is
The guaranteed issue amounts are as paid by Saint Louis University.
follows.
X Employee guaranteed issue amount Supplemental Coverage
= lesser of $400,000 or 3× basic
annual earnings We also offer a voluntary life insurance option with competitive group
rates so you can purchase the additional inancial protection you need.
X Spouse guaranteed issue amount =
$25,000
Employee Coverage
X Child(ren) guaranteed issue You may select additional levels of life insurance equal to 1, 2, or 3 times
amount = $12,500
your base annual salary, with a combined maximum amount of $400,000
between the base and optional coverage. The optional insurance will be
Designating Your at your cost. If you are age 70 or older, your beneit is capped at 50% of
Beneficiary your original beneit. Once you’ve elected coverage for yourself, you can
If you die while covered by this plan, elect coverage for your spouse and/or dependent children.
the beneit is paid to the beneiciary
(or beneiciaries) you designate. Please Spouse Coverage
make sure your beneiciary information If you elect voluntary life coverage for yourself, you can also elect
is accurate.
$25,000 in voluntary life coverage for your spouse. Any changes to your
You may change beneiciaries at any coverage election outside of your new hire eligibility period will require
time by completing a new Beneiciary evidence of insurability.
Designation Form and submitting it to
the Beneits ofice.
Dependent Coverage
Want More Information? Dependent child life coverage is available in the amount of $12,500.
For additional life insurance information Dependent children birth to 19 years and full-time students 19 years
including cost of coverage, beneiciary through age 25 are eligible for this coverage. All dependent child elections
designation forms, and enrollment
forms, visit www.slu.edu/human- are guaranteed issue without needing to provide proof of good health.
resources-home/life-insurance .
24 2018 New Hire Guide
New Hire Enrollment
During your initial new hire eligibility Base Plan
period, Symetra will allow you to
elect coverage to the guaranteed Term Life Insurance
issue amounts without submitting
evidence of insurability. However, if We know inancial security and planning is a top priority for you. This
you waive coverage during your new is why Saint Louis University partners with Symetra to provide full-time
hire enrollment period, evidence of employees with term life insurance. Your coverage is equal to 1× your
insurability will be required if you want base annual salary up to a maximum of $400,000. Upon reaching age 70,
to elect coverage in the future.
your beneit decreases by 50%. The entire premium for the base plan is
The guaranteed issue amounts are as paid by Saint Louis University.
follows.
X Employee guaranteed issue amount Supplemental Coverage
= lesser of $400,000 or 3× basic
annual earnings We also offer a voluntary life insurance option with competitive group
rates so you can purchase the additional inancial protection you need.
X Spouse guaranteed issue amount =
$25,000
Employee Coverage
X Child(ren) guaranteed issue You may select additional levels of life insurance equal to 1, 2, or 3 times
amount = $12,500
your base annual salary, with a combined maximum amount of $400,000
between the base and optional coverage. The optional insurance will be
Designating Your at your cost. If you are age 70 or older, your beneit is capped at 50% of
Beneficiary your original beneit. Once you’ve elected coverage for yourself, you can
If you die while covered by this plan, elect coverage for your spouse and/or dependent children.
the beneit is paid to the beneiciary
(or beneiciaries) you designate. Please Spouse Coverage
make sure your beneiciary information If you elect voluntary life coverage for yourself, you can also elect
is accurate.
$25,000 in voluntary life coverage for your spouse. Any changes to your
You may change beneiciaries at any coverage election outside of your new hire eligibility period will require
time by completing a new Beneiciary evidence of insurability.
Designation Form and submitting it to
the Beneits ofice.
Dependent Coverage
Want More Information? Dependent child life coverage is available in the amount of $12,500.
For additional life insurance information Dependent children birth to 19 years and full-time students 19 years
including cost of coverage, beneiciary through age 25 are eligible for this coverage. All dependent child elections
designation forms, and enrollment
forms, visit www.slu.edu/human- are guaranteed issue without needing to provide proof of good health.
resources-home/life-insurance .
24 2018 New Hire Guide
