Employee Life Insurance

University Provided Benefit

Northern Michigan University provides group term life insurance through The Hartford for employees working half-time or more.  The amount of Basic Life Insurance is equal to one times annual salary rounded to the next thousand..  There is also a double indemnity clause which doubles the benefit for accidental death.  At termination of employment, coverage ends and employees are given the information needed to contact Hartford Life regarding conversion options.

Supplemental Life Option

Additional life insurance may be purchased and paid for through payroll deduction.  Amounts are multiples of salary and allowable multiples are dependent on employee group. Supplemental life may be purchased within 30 days of enrollment, without having to provide evidence of good health.  Rates are based on your age, and are shown below. 

Age Range Rate (per thousand dollars of coverage)
<30 $.038
30-39 $.048
40-49 $.099
50-59 $.25
60-69 $.586
70-79 $1.606

EXAMPLE: A 42 year old employee with an annual salary of $47,900 elects 3 times their annual base salary in supplemental life insurance.

$47,900 x 3 = $143,700 rounded to the nearest thousand would provide $144,000 in supplemental life insurance.

$.099 (rate for age range) x 144 (amount of coverage in thousands) = $14.26/bi-weekly
 

*Please contact the Human Resources Department or refer to The Hartford's group benefit plan booklet.

Dependent Life Option

Employees may purchase term life insurance for their spouses and/or dependent children (through age 26).  Three benefit levels of supplemental dependent life insurance exist, as specified below.

OPTION 1: $10,000 spouse / $5,000 child $.44 bi-weekly
OPTION 2: $15,000 spouse / $10,000 child $.67 bi-weekly
OPTION 3: $20,000 spouse / $10,000 child $.86 bi-weekly

Dependent life must be purchased within 30 days of hire or when you experience and change of status.

*Please contact the Human Resources Department or refer to The Hartford's group benefit plan booklet.