Life Insurance - Optional Life Coverage

Optional life insurance provides additional protection for those who depend on you financially. Click here for Optional Life full plan details.
Your need may vary greatly depending on age, number of dependents,
dependent ages and your financial situation. 

Eligible employees may purchase optional life insurance in increments of:

• 1 x salary
• 2 x salary
• 3 x salary
• 4 x salary
• 5 x salary

You are responsible for the cost of the optional life insurance coverage you choose. Optional life insurance premiums are paid through payroll deductions on an after-tax basis.

Any optional life insurance coverage that exceeds 3x your salary or $375,000 is subject to medical evidence of insurability. Coverage will not become effective until receipt of approval by Principal Life Insurance Company.

Newly eligible employees may elect up to 3x salary without medical evidence of insurability if coverage does not exceed $375,000.

Employees with existing coverage may increase optional coverage by one level without medical evidence of insurability if coverage does not exceed $375,000. All optional coverage elections in excess of $375,000, or elections that are increasing more than one level of coverage, are subject to medical evidence of insurability and will not become effective without approval of Principal Life Insurance Company. If you are making an election of more than $375,000 or increasing by more than one coverage level, then you will be sent a Medical Evidence of Insurability form. This form must be completed and returned to Principal Life Insurance Company at the address provided. If approved, Principal Life Insurance Company will notify you and the University by mail.

Current recipients of long-term disability benefits are not eligible to increase life insurance elections. The basic life insurance amount for LTD participants remains at $10,000.