All benefit eligible employees automatically receive Basic Term Life Insurance & Accidental Death and Dismemberment (AD&D) coverage. The Basic Term Life Insurance is equal to two times the employee's basic annual earnings to a maximum of $400,000. The guaranteed issue amount is $400,000. Lawrence University pays 100% of this premium; there is no cost to the employee. For information on Lawrence's Group Life, please review the Certificate of Coverage or visit VOYA's website.
Eligible employees also have the option of purchasing Supplemental Term Life Insurance & AD&D for the employee, employee's spouse/domestic partner, and any dependent child(ren). Employees may elect from a minimum of $20,000 to a maximum of $500,000 (in $10,000 increments), not to exceed five times your basic yearly earnings. For spouse/domestic partner supplemental life insurance, employees may elect up to 50% of the employee's supplemental life insurance. The Guaranteed issue amount for employees is $180,000 and $50,000 for spouses/domestic partners. Any amounts over $180,000 (employee) or $50,000 (spouse/domestic partner) will require Evidence of Insurability. Supplemental coverage for children may be purchased in $2,500 increments to a maximum of $10,000. Premiums are paid by the employee and are based on age and tobacco use.
Term Life/Accidental Death and Dismemberment Enrollment Forms