Voluntary Term Life Insurance and Accidental Death & Dismemberment (AD&D) Insurance is available for employees to purchase for themselves, their spouses and their children. If elected, this coverage would be in addition to the University provided life insurance, and employees pay the full cost of the premium with after-tax dollars through monthly payroll deduction.
Employees who hold a non-temporary position working 20 hours or more are eligible to purchase the coverage that is insured through Principal Financial Group.
Guaranteed coverage is available if purchased within 30 days of an employees’ effective date of employment with UNI. Employees can elect to up $300,000 of coverage for themselves. Coverage up to $50,000 is available for spouses and coverage for eligible children 14 days to age 26 is $10,000 per child. Spouse and dependent coverage cannot exceed 100% of the employee's coverage. If an employee requests to enroll or increase their coverage during subsequent annual open enrollment periods, they will have to complete a statement of health questionnaire to be approved for additional coverage. The open enrollment period will be held every year in May. If approved, coverage will begin on July 1.
The monthly premium rates vary based on the age of the applicant and the coverage option chosen. For more information on the rates and coverage amounts, view the Benefits-At-A-Glance informational handout.