Search form

Benefits

Life Insurance

What You Need to Know: 

Life insurance provides protection for those who depend on you financially. The University provides employees basic life insurance coverage equal to one times your salary at no cost to you. Additional coverage is also available. For new employees, your basic coverage becomes effective on the first day of regular, full-time employment.  The University also offers dependent life coverage for your spouse and/or children.

Eligibility

You are eligible for life insurance coverage if you are a regular, full-time employee.  Please note: part-time, half-time and temporary employees are not eligible.

For employees hired after July 1, 2007: The limit on the amount of basic and optional life insurance for new hires, age 70 years of age or more, is $10,000 guaranteed issue. For amounts greater, Medical Evidence of Insurability is required.

Basic Life Insurance

The University of Kentucky provides a standard level of coverage at no cost to you. This coverage is equal to one times your annual salary. In order to receive this benefit, you must be in a regular position with a 0.75 FTE assignment or greater. Your basic coverage is effective the first day of regular, full-time employment.

View a PDF of the Group Policy for UK Basic Life Insurance full plan details.

View a PDF of the Group Booklet for UK Basic Life Insurance.

Your Beneficiaries
Your beneficiary(ies) is the person you choose to receive your basic and optional life AD&D insurance benefits in the event of your death. You will need to provide Social Security numbers for all beneficiaries. You can change your beneficiary listing at any time.

Optional Life Insurance

Optional life insurance provides additional protection for those who depend on you financially.

View full plan details for Group Policy for Optional Life Insurance (pdf). View the Group Booklet (pdf).

Your need may vary greatly depending on age, number of dependents, dependent ages and your financial situation. Optional life insurance is available for eligible employees to purchase in increments of:

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

To calculate monthly cost for optional coverage: Locate your age in the table below and find the corresponding cost per $1,000 of monthly coverage. To determine the monthly cost of coverage, multiply the monthly cost by the corresponding multiple of your 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. 

Rates

Employee Age Monthly Cost per $1000 of Coverage
​ Up to age 34  $0.08
Age 35-39 $0.09 
Age 40-44  $0.10
Age 45-49 $0.15
Age 50-54 $0.25
Age 55-59 $0.43
 Age 60-64 $0.69
Age 65-69 $1.27
Age 70+ $2.22

Dependent Life Insurance 

Dependent Optional Life Insurance for Spouse and/or Children:

Regular, full-time employees may elect optional life insurance in the amounts of $5,000, $10,000, or $15,000* for spouses and/or eligible dependent children. This coverage is available without the employee being required to purchase optional life insurance.

Dependent Life Coverage

Coverage Amount/ Monthly Cost

Dependent Covered

$10,000

$15,000

$20,000

Spouse

$1.72

$2.58

$3.44

Children*

$1.32

$1.98

$2.64

* One rate for all eligible children

Enrollment

Enroll using the form in the right-hand column for "Life Insurance and AD&D Enrollment." Contact the UK Benefits office for further enrollment instructions.