Benefits

Group Life Insurance

The College provides a group life insurance policy underwritten by MetLife which covers all full-time regular employees (not including temporary employees, visiting faculty or interns) without contribution on the part of the employee. The policy provides eligible employees with life insurance, effective on the first day of active employment, equal to 1.5 times the base annual salary. At age sixty, the insurance becomes 1.125 times the salary, and at age sixty-five it becomes .75 times the salary. In each case, the benefit is rounded up to the next higher multiple of 1,000. The plan provides an accidental death benefit equal to the amount of the basic life insurance payable in addition to the basic life insurance. Within thirty-one days following termination of employment, an insured employee may convert all or part of his/her life insurance under the group plan to an individual policy without the need for a medical examination. The individual may choose any whole life or endowment policy then issued by MetLife.