If you are in a regular position with a full-time equivalency (FTE) of at least 0.75, you automatically receive life insurance when you’re hired. No action is required on your part. There are no health questions to answer, because you are guaranteed coverage.
We offer term life insurance, which means the benefits are available to you only while you’re employed at UK.
Your coverage amount depends on your hire date:
Hired before July 1, 2017: You receive coverage in the amount of 100% of your annual salary.
Hired on or after July 1, 2017: You receive coverage from 50% to 100% of your annual salary.
If your annual salary is more than $50,000, you will pay tax on the premiums UK pays toward the cost of any insurance above $50,000. You may lower your coverage level to $50,000 to avoid any additional taxes by adjusting the amount in myUK.