A new life insurance policy is offered to you for a limited time — only during open enrollment from April 29 to May 15. Sign up through The MPM Group.
This universal life insurance policy offered as guaranteed issue is distinct from the other life insurance UK offers you in two ways. It's universal life insurance, which means you'll take this insurance with you after you leave UK for a new job or when you retire. Because it's offered as guaranteed issue, you'll be approved for coverage regardless of any health conditions.
According to the MPM Group, who administers this and other voluntary life insurance offered to UK employees, about 20% of people have health conditions that prevent them from being approved for life insurance. This is a one-time special offer for guaranteed issue voluntary life insurance during this open enrollment.
You already receive life insurance at no cost to you if you're in a regular position with an assignment of 0.75 full-time equivalency (FTE) or greater in the amount equal to one times your salary. This universal life insurance is another option for extra life insurance. We continue to offer term life insurance through the MPM Group as well. While term life insurance ends when you leave the University for another employer or when you retire, universal life insurance stays with you.
Universal life insurance is considered permanent life insurance designed to last well into your 70's, 80's, and 90's. Many use this for medical, debt and funeral expenses, or gifting to charities. It's available to eligible UK employees, spouses, children and grandchildren if the UK employee is actively-at-work in a regular 0.75 FTE or greater or WEPP nurse.