Life Insurance
On this page:
- About Life Insurance
- Basic Life and Accidental Death and Dismemberment (AD&D) Insurance
- Supplemental Term Life Insurance
- Dependent Life Insurance
About Life Insurance
Wright State University provides life insurance benefits to employees that work at an FTE of 75% or higher. Our life insurance vendor is UNUM and there are three offerings:
- Basic Life and Accidental Death and Dismemberment (AD&D)
- Supplement Term Life Insurance
- Dependent Life Insurance
Basic Life and Accidental Death and Dismemberment (AD&D) Insurance
Wright State University provides basic life and Accidental Death and Dismemberment (AD&D) insurance at no cost to benefit-eligible employees. The value of basic life insurance (maximum benefit of $400,000) is listed below:
- 2 times the base annual salary for staff and fiscal faculty
- 2.44 times the base annual salary for academic faculty
Enrollment is automatic. Beneficiaries designated for this benefit must be listed on the Unum Life Insurance Form (PDF). If no beneficiaries are designated, the death benefit will be paid to the employee’s estate. If any issues arise, Unum reserves the right to make payment to the first surviving family members in the following order: spouse, child(ren), mother and/or father, and sisters and/or brothers.
Supplemental Term Life Insurance
Wright State University provides benefit-eligible employees the opportunity to supplement their basic life insurance coverage with term life insurance. During open enrollment, benefit-eligible employees can elect coverage of 1, 2, or 3 times the employee’s base salary up to a maximum of $300,000. If enrolling or increasing existing coverage by more than $200,000, a Statement of Health (Evidence of Insurability) is required.
The beneficiaries designated for supplemental life insurance must be listed on the Unum Life Insurance Form (PDF). If no beneficiaries are designated, the death benefit will be paid to the employee’s estate. If any issues arise, Unum reserves the right to make payment to the first surviving family members in the following order: spouse, child(ren), mother and/or father, and sisters and/or brothers.
Cost
Supplemental life insurance premiums are based on the employee’s age and the coverage amount.
Dependent Life Insurance
Wright State University offers dependent life insurance for spouses and/or eligible children up to age 26. The policy value for a spouse is either $10,000 or $25,000 and $2,000 or $10,000 for child(ren).
Dependent life insurance can be purchased without purchasing supplemental life insurance. A Statement of Health is not required for this benefit.
During Open Enrollment, benefit-eligible employees can add, change or terminate dependent life insurance coverage by submitting the Unum Life Insurance Form (PDF).
Cost
Dependent life insurance premiums are based on the employee’s age and the coverage amount.
If you have any questions, please email HR-Benefits@wright.edu.
