Voluntary Benefits - Universal Life
Regular employees with an assignment of 50% or more (0.5 FTE) are eligible. On-call pool nurses with benefits-purchase eligibility may also enroll in this voluntary benefit. You may also purchase separate policies for your spouse and your children whether or not you elect coverage for yourself. The voluntary benefit is offered through American Heritage Life Insurance Company.
Universal life insurance offers these benefits:
- Portability: If you leave the University or retire, you may take your universal life insurance coverage with you.
- Cash Value: In addition to life insurance protection, universal life offers a cash value account. When you pay your premium, a portion of it goes to the cash value account and grows tax-deferred.
- Simplified Underwriting: Coverage is easier to obtain due to fewer health questions.
- Accelerated Benefits: If you or a covered dependent become terminally ill, a percentage of the death benefit may be received immediately.
For more information on universal life you may contact The MPM Group, LLC at (859) 223-4973, or toll-free at (888) 388-1676 or visit www.thempmgroupllc.com.