Supplemental Term Life Insurance
Open Enrollment: October 21 through November 8
See Open Enrollment website for complete details. See Open Enrollment website for one-time Life Insurance enrollment offer.
The purpose of the Supplemental Life Insurance Plan is to provide the opportunity for individuals to purchase term life insurance protection above the amount of Basic Term Life insurance provided by the University. This plan is fully employee paid. Review the summary plan description for more details.
Coverage
Employees may elect 1 to 5 times their University salary. Maximum coverage of $2,000,000. Starting January 1, 2025, employees may elect up to 8 times the University salary. Employees can make changes for 2025 during Open Enrollment.
Coverage at hire or initial benefits eligibility
At hire, you are guaranteed coverage of three times your annual salary up to $1 million regardless of health status. As a new employee, if you wish to elect more than three times your annual salary or the coverage amount exceeds $1 million, you must complete Evidence of Insurability (EOI). After enrollment, you will receive an email at your personal email address from Dearborn/BCBS in 7 -10 days which will include a link to apply for the EOI, which you should complete within 7 days. When EOI is required, to evaluate your request a valid social security number is required for you and/or your dependents to complete the underwriting process.
Increase coverage
You may increase coverage by 1x your annual salary within 31 days of a qualifying change in family or employment status without underwriting online via myHR.
Increases greater than 1x your annual salary require the submission of an EOI. After enrollment, you will receive an email at your personal email address from Dearborn/BCBS in 7 -10 days which will include a link to apply for the EOI, which you should complete within 7 days.
Changes during Open Enrollment require the submission of an EOI and approval by the sponsoring insurance company. After enrollment, you will receive an email at your personal email address from Dearborn/BCBS in 7 -10 days which will include a link to apply for the EOI, which you should complete within 7 days.
Premiums
*Premium Rate per $1,000 of Coverage
**Please note that premiums are taken as an after-tax deduction from your paycheck
| Age | Rate |
|---|---|
| To age 30 | $0.021 |
| 30 to 34 | $0.026 |
| 35 to 39 | $0.039 |
| 40 to 44 | $0.048 |
| 45 to 49 | $0.075 |
| 50 to 54 | $0.114 |
| 55 to 59 | $0.211 |
| 60 to 64 | $0.280 |
| 65 to 69 | $0.432 |
| 70 to 79 | $0.691 |
| Age 80 and over | $0.691 |
Update beneficiaries
Beneficiaries can be updated at any time during the year through the myHR portal. For assistance updating beneficiaries, please see this user guide.
Accessing the benefits enrollment platform
- Login to myHR (using your Net ID and Password)
- Select the “Benefits” tile in “myHR Self Service”
- Select “My Health Benefits Elections” (in the left-hand menu)
- Select “Get Started”