UH provides financial protection for your family in case you have a disabling illness or injury, or die.
Click here to learn more information about the options and support services offered with your life insurance plan.
- You are eligible if:
- UHMG physicians: you have an FTE status of .20 or higher
- All other employees: you are a regular status employee scheduled to work 16 or more hours a week
- You are eligible to enroll in supplemental life, voluntary AD&D and dependent life insurance within 30 days of hire.
- Your eligible dependents for voluntary AD&D and dependent life include your legal spouse and your dependent children up to age 26.
Basic Life and AD&D Insurance
- Coverage provides your beneficiary a source of income if you die while you are employed by UH.
- AD&D insurance also provides a benefit if you suffer certain severe injuries, such as the loss of a limb or the loss of vision resulting from an accident.
- Coverage is generally equal to two times your annual base pay.
If you want more coverage for yourself, you can elect to purchase supplemental life insurance coverage through after-tax payroll deductions.
Supplemental Life Insurance
- You can purchase an additional 1, 2, 3, or 4 times your annual base pay.
- Maximum amount of life insurance coverage (basic plus supplemental) is $2 million.
Evidence of Insurability
You will need to provide a statement of your medical history or evidence of insurability (EOI) for some life insurance elections.
Aetna will send you an evidence of insurability form after your election has been received. Your life insurance election will not become effective until your evidence of insurability is approved by the insurance carrier.
The IRS considers the value of employer-provided coverage above $50,000 as taxable income. This taxable amount is called “imputed income.”
For example, an employee earning an annual base salary of $60,000 would pay tax based on the IRS tables for $70,000 of coverage ($120,000 minus $50,000). In most cases the amount of tax is small. Your employer will include imputed income on your paycheck to cover any taxable life insurance amounts. (It will appear on your pay stub as Imp Income.)
You can purchase dependent life insurance, which pays a lump-sum benefit to you if your spouse or a dependent child dies. Dependent children are eligible for coverage up to age 26.
In addition to basic life and AD&D insurance, you can purchase additional AD&D insurance for you and your eligible dependents. Coverage options are:
|Spouse Life Options
||Child Life Options
|$5,000 coverage for spouse
||$5,000 coverage for each child
|$10,000 coverage for spouse
||$10,000 coverage for each child
|$30,000 coverage for spouse
- 1 x annual base pay
- 2 x annual base pay
- 3 x annual base pay
- 4 x annual base pay
You purchase Voluntary AD&D coverage through pre-tax payroll deductions.
When you purchase additional coverage, you can choose either to cover yourself only or family. If you purchase family coverage, the benefit paid will be based on the coverage amount you selected and the make up of your family at the time of the accident.
|At the time of the accident,
your covered family consists of …
|Percentage of benefit paid is …
|You and your spouse
||100% for you; 60% for your spouse
|You, your spouse,
and your dependent child(ren)
||100% for you; 50% for your spouse; 15%
or $50,000 for each child (whichever is less)
|You and your dependent child(ren)
||100% for you; 20% or $50,000 for each child (whichever is less)
You have options if you’re not able to work because of a total disability. Your life insurance plan includes a special provision called a premium waiver that extends your coverage, if you qualify. With this provision, your coverage may continue without premium payments if you become disabled before a pre-determined age and the disability lasts for a pre-determined period of time.