Life Insurance [Basic + Optional]
Employees working at least 30 hours per week, or 75% of full-time, in a benefit-eligible position are provided basic group term life insurance effective the first of the calendar month following employment, or the date of hire if the first of the calendar month. The full cost of insurance is paid by the university. Eligible employees may elect Additional Life Insurance up to the lesser of $500,000 or 5 times their annual salary.
Eligible employees may also choose to purchase term coverage for spouse ($5,000) and children ($2,000 each) with the purchase of a minimum of $10,000 additional life for employee.
Click on the documents below to learn about both Basic and Optional Life Insurance policies provided to Anderson University employees:
- Lincoln Financial Group Summary of Benefits - Basic Life [PDF]
- Lincoln Financial Group Summary of Benefits - Optional Life [PDF]
Group Life and Additional Life benefits are guaranteed convertible to individual life insurance upon leaving university employment. All life insurance coverage expires at termination of employment.
Within 31 days of leaving employment with Anderson University, a previous employee may choose to convert life insurance from AU's group policy to an individual policy.
For contact information, be sure to check the document Benefit Provider Contacts [PDF] on the navigation menu to the left, or contact Zach Dunsmore, payroll & benefits specialist, at firstname.lastname@example.org.