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UK INCREASES ITS EMPLOYEES'
LIFE INSURANCE COVERAGE

By George Lewis

 

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UK employees' basic life insurance benefit will increase from $7,500 to $10,000 for all regular full-time employees on July 1, 2002.

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April 17, 2002 (Lexington, Ky.) -- University of Kentucky President Lee T. Todd Jr. announced today that UK employees' basic life insurance benefit will increase from $7,500 to $10,000 for all regular full-time employees on July 1, 2002.

The recommendation to increase the coverage was presented to Todd in the 2001-2002 Employee Benefits Committee (EBC) Annual Report.

"The EBC recognized that the current basic life insurance coverage was below the coverage that many of UK's benchmark institutions provide to their employees, and I felt the committee's assessment had great merit," Todd said.

John Sampson, UK employee benefits manager, explained: "For employees who do not purchase optional life insurance, this will result in an increase to the amount of basic coverage provided to them. For Those employees purchasing the optional life insurance coverage, this will reduce the amount of coverage the employee must pay for without reducing the amount of coverage being purchased."

For questions or comments regarding employee life insurance, call UK Human Resources at (859) 257-9555 and press 1 or e-mail benefits@email.uky.edu.


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