Hospital employee life and AD&D insurance
Voluntary life insurance rates for employee
Can be purchased in multiples of your regular annual pay—1x, 2x, 3x, 4x
| Your age | Rates per month per $1,000 (payroll deduction; after-tax dollars) | |
|---|---|---|
| Employee step rates | Spouse* step rates | |
| Under 25 | $0.034 | $0.09 |
| 25 to 29 | $0.034 | $0.09 |
| 30 to 34 | $0.043 | $0.113 |
| 35 to 39 | $0.049 | $0.127 |
| 40 to 44 | $0.074 | $0.175 |
| 45 to 49 | $0.124 | $0.322 |
| 50 to 54 | $0.197 | $0.515 |
| 55 to 59 | $0.334 | $0.876 |
| 60 to 64 | $0.534 | $1.465 |
| 65 to 69 | $0.973 | $2.544 |
| Over 70 | $1.582 | $3.993 |
Maximum amount is 4x annual salary up to $1 million. Amounts over $550,000 require underwriting review. Coverage is reduced to 65% at age 65 and 50% at age 70. Spouse life plan: choice of $5,000, $10,000, $25,000 or $50,000. * Proof of insurability is required for your spouse or registered domestic partner if the $50,000 level of coverage is requested
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Voluntary life insurance rates for children (rates per month per $5,000)
| Amount | Rate per month (payroll deduction; after-tax dollars) |
|---|---|
| $ 5,000 | $0.59 |
| $10,000 | $1.18 |
| Insurance coverage for children from 14 days to 6 months is limited to $500. If both parents are USC benefits-eligible employees, a child may be covered as a dependent by only one parent. | |
Life insurance
Life insurance pays a pre-determined amount to your beneficiaries in the event of your death. The life insurance available through USC is term life insurance, which means you have the insurance during the time that premiums are paid. USC pays for a basic amount of life insurance with the company Unum, and you may purchase additional insurance for both yourself and your eligible dependents.
Employees must complete a beneficiary designation form (see Forms/information on this page).
USC pays the entire cost of basic term life insurance for full-time employees (at least 32 hours a week) equal to your annual base pay, up to a maximum of $50,000. The cost of voluntary insurance (which is also available to part-time employees working at least 24 hours a week) is based on your age and other underwriting criteria, as well as the amount of additional coverage you choose. Coverage for all dependents (at least 14 days old) is available for a flat rate.
USC-paid coverage begins on the first day employment; additional coverage begins on the 31st day as a benefits-eligible employee.
Eligible employees must be actively at work to purchase supplemental life insurance.
Participants under the age of 60 who become totally disabled for at least 9 consecutive months may file a claim with Unum to have life insurance premiums waived during their disability. The participant must file the premium waiver claim during the first 12 months of his or her disability.
Unum life insurance can be changed or cancelled at any time (not just open enrollment). For more information, contact Benefits for detailed brochures.
AD&D insurance
AD&D or accidental death and dismemberment insurance pays a predetermined amount to your beneficiaries in the event of your accidental death (for example, in a car crash). The insurance pays lesser amounts to you or your beneficiaries for various types of accidental injuries that result in the loss of limbs, sight, speech or hearing.
USC pays for 1x annual salary up to $50,000 in basic accident coverage for full-time benefits-eligible employees. Coverage is automatic, but you do need to designate a beneficiary. See forms on this page.
Both full-time and part-time employees may purchase additional coverage for themselves and their eligible dependents. A person insured as an employee may not also be covered as a dependent of another employee. Benefit amounts paid for accidental death or injury to covered dependents are a percentage of the insured employee's coverage. Benefit payments progressively decline for employees over age 70 and their covered dependents.
AD&D can only be changed during open enrollment or within 30 days of a status change. Contact Benefits for detailed brochures.
| Coverage | Rate per $1,000 coverage per month (payroll pretax dollars) |
|---|---|
| Employee | $ 0.015 |
| Spouse | $ 0.013 |
| Child(ren) | $ 0.027 |
| For employee: coverage is available in increments of 1x through 4x your annual salary, with a cap of $500,000. For spouse: choice of $25,000 or $50,000. For child(ren): flat $10,000. |
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