can provide money for your family if you die or are diagnosed with a terminal illness.
How does it work?
You keep coverage for a set period of time, or “term.” If you die during that term, the money can help your family pay for basic living expenses, final arrangements, tuition and more.
Who can get Term Life coverage?
If you are actively at work at least the required hours per week, you can receive a benefit amount of $50,000.
Why choose Unum?
Your employer is offering you this coverage at no cost to you. Unum is the leading provider of employee benefits, with more than 165 years of experience. We’ll be there to back our benefits and provide you with the support you need.
What else is included?
A “Living” Benefit
If you are diagnosed with a terminal illness with less than 12 months to live, you can request 50% of your life insurance benefit (up to $750,000) while you are still living. This amount will be taken out of the death benefit and may be taxable.
Waiver of premium
Your cost may be waived if you are totally disabled for a period of time.
Portability
You may be able to keep coverage if you leave the College, retire or change the number of hours you work.
Employees or dependents who have a sickness or injury having a material effect on life expectancy at the time their group coverage ends are not eligible for portability.
Exclusions and limitations apply. See Human Resources for details.
Life Insurance Rates
| Age | Employee Monthly Rate (Cost per $10,000 of Coverage) | Spouse Monthly Rate (Cost per $5,000 of Coverage) | Child Monthly Rate (Cost per $2,000 of Coverage) |
|---|---|---|---|
| 15-24 | $0.460 | $0.230 | $0.560 |
| 25-29 | $0.520 | $0.260 | $0.560 |
| 30-34 | $0.640 | $0.320 | $0.560 |
| 35-39 | $0.910 | $0.460 | $0.560 |
| 40-44 | $1.300 | $0.650 | $0.560 |
| 45-49 | $2.010 | $1.010 | $0.560 |
| 50-54 | $3.300 | $1.650 | $0.560 |
| 55-59 | $5.080 | $2.540 | $0.560 |
| 60-64 | $7.920 | $3.960 | $0.560 |
| 65-69 | $17.760 | $8.880 | $0.560 |
| 70-74 | $24.560 | $12.280 | $0.560 |
| 75+ | $48.120 | $24.060 | $0.560 |