Human Resources

Group Life Insurance

On the first of the month coincident with or following three consecutive full months of employment, regular full-time and part-time employees are eligible for College-paid basic term life insurance coverage. To age 65 the insurance coverage is equal to 1.5 times the amount of an employee's base annual salary. Upon attainment of age 65, the amount of insurance is equal to 1 times the base annual salary and at age 70 it is 67%. In addition, optional insurance is available to employees at low group rates. An employee may purchase additional coverage of 1, 2 or 3 times his or her annual base salary. An employee may also purchase $10,000 of dependent life insurance coverage on his or her spouse/same-sex domestic partner and child(ren).

In all cases, if the amount of insurance is not an even multiple of $1,000 it is raised to the next higher $1,000 multiple. The maximum amount of insurance is $500,000, for basic term life and optional life combined.

An employee leaving the College may convert this insurance to a private non-group plan within 31 days and continue it at his or her own expense. To do so, he or she should consult the Office of Human Resources.