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Life Insurance

Information for: Full-Time Employees

Life insurance is provided to FIT full-time employees by The Standard Life Insurance Company of New York.    For details about this coverage please refer to the Group Life Insurance Certificate.


Effective the first day of employment, you receive basic term life insurance and AD&D coverage.  Coverage is equal to your annual base annual salary and is rounded up to the next multiple of $1,000 if not already a multiple thereof. For example, if your annual earnings are $44,331, your life insurance amount would be $45,000.  AD&D coverage is provided in an amount equal to your basic life insurance.  You will be automatically enrolled and there is no cost to you for this coverage.

The amount of basic life insurance for employees age 70 and over is computed differently. The amount of basic life insurance for employees age 70 or over will be 65% of the amount determined above. The amount of life insurance for employees age 75 and over will be 50% of the amount determined above.

You must name a beneficiary for your basic life and AD&D coverage by completing the beneficiary section of the enrollment form and submitting it to a Benefits representative in the Office of Human Resources.  A beneficiary designation may be change at any time using the same form.

As a participant in the life insurance plan you will have access to the services provided through the Frontier MEDEX Travel Assistance Program.  This is a comprehensive program of information, referral, assistance, transportation and evacuation services designed to help you respond to medical care situations and many other emergencies that may arise during travel.  Travel Assistance also offers pre-travel assistance, which gives you access to information on things like passport and visa requirements, foreign currency and worldwide weather.


Within 30 days of your date of hire you have the opportunity to enroll in Optional (additional) term life insurance with the Standard over and above the amount of Basic life coverage provided by the College.  If elected you will pay the full cost of the Optional coverage through payroll deductions.  To elect optional life insurance coverage you must complete and submit an enrollment form.  You may elect Optional term life coverage equal to one, two, three, or four times your base annual salary, to a maximum of $500,00.  The first $250,000 of Optional insurance elected is automatically approved.  Any amount you elect which exceeds $250,000 will require the completion of health questionnaire which is submitted to the life insurance carrier and subject to their approval.

If optional life insurance coverage is not elected within 30 days of your date of hire you may elect coverage during the annual  benefits enrollment period (you may also increase your coverage during this period).  Any amount of optional life insurance coverage elected during the annual benefits enrollment period will required completion of a health questionnaire which is submitted to the life insurance carrier and subject to their approval.

Please note that once you reach 70 years of age optional life insurance coverage terminates.

If you experience a qualified life event as defined by the IRS (e.g. marriage, birth of a child) you may increase optional life insurance coverage.  Please contact a Benefits representative for more information.



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