Supplemental Life Insurance

In addition to the Basic Group Life Insurance provided by the University at no cost to you, you have the opportunity to purchase Supplemental Group Life Insurance.  You may purchase Supplemental Life Insurance for yourself, for your spouse or domestic partner, and for your children.  Supplemental Group Life premiums are deducted from your pay on an after-tax basis.

Coverage for Employees

As a new employee you can elect 1, 2, 3, 4 or 5 times your base annual salary or $750,000, whichever is less.  If you enroll during your new employee enrollment period, you are guaranteed coverage up to 3 times your base annual salary or $500,000, whichever is less.

If you wish to elect coverage greater than 3 times your base annual salary or $500,000, whichever is less, you must submit a completed Evidence of Insurability (EOI) Form to Reliance Standard.  Reliance Standard will evaluate your completed Form and determine if coverage will be issued.

Employee Supplemental Life Insurance will be reduced:

• to 65% of the pre-age 65 amount at age 65
• to 45% of the pre-age 65 amount at age 70
• to 30% of the pre-age 65 amount at age 75
• to 20% of the pre-age 65 amount at age 80
• to 15% of the pre-age 65 amount at age 85
• to 10% of the pre-age 65 amount at age 90

New Employee Wants Coverage Beyond the Guaranteed Issue Maximum

For coverage over the Guaranteed Issue (GI) maximum, you must complete the Evidence of Insurability (EOI) form and submit it to Reliance Standard at the address indicated on the form.  If approved, Reliance Standard will notify SMU Human Resources of any changes in coverage and your payroll deductions will be adjusted accordingly.

Employee Wants To Enroll For The First Time After New Employee Enrollment Period Ends Or To Increase Coverage

After the initial eligibility period expiries, any new enrollments and coverage increases are subject to EOI.  You must complete the EOI form and submit it to Reliance Standard at the address indicated on the form.  If approved, Reliance Standard will notify SMU Human Resources of any changes in coverage and your payroll deductions will be adjusted accordingly.

Employee Wants To Add Coverage for Spouse/Domestic Partner or Child After New Employee Enrollment Period Ends

After the initial eligibility period expiries, any new enrollments and coverage increases are subject to EOI.  You must complete the EOI form with information for the dependent(s) you wish to add and submit it to Reliance Standard at the address indicated on the form.  If approved, Reliance Standard will notify SMU Human Resources of any changes in coverage and your payroll deductions will be adjusted accordingly.

What if I Was Not Previously Enrolled and I Have a Qualified Life Event?

The only exception is a qualified Life Event (e.g., marriage, birth of a child, etc.)  In this case, the guidelines for new employee enrollment will apply.  You must contact Human Resources and make your election via Access.SMU Self-Service Benefits Enrollment within 31 days of the Life Event.

Coverage for Spouse/Domestic Partner

You may elect up to $50,000 (or an amount equal to your coverage amount, if less than $50,000) coverage for your spouse or domestic partner.  This coverage is not subject to Evidence of Insurability if he/she is enrolled during the new employee enrollment period.

Spouse/Domestic Partner Life Insurance will be reduced:

• to 65% of the pre-age 65 amount at age 65
• to 45% of the pre-age 65 amount at age 70
• to 30% of the pre-age 65 amount at age 75
• to 20% of the pre-age 65 amount at age 80
• to 15% of the pre-age 65 amount at age 85
• to 10% of the pre-age 65 amount at age 90

Coverage for Children

You may elect up to $10,000 per child 6 months or older ($500 for children age 14 days to 6 months). This coverage is not subject to Evidence of Insurability if they are enrolled during the new employee enrollment period.

How to Calculate the Cost of Supplemental Life Insurance

Employee

Divide your coverage amount by 1000.  Multiply the result by the applicable rate, based on your age, from the table below to determine the monthly premium.

Spouse/Domestic Partner

Divide the coverage amount by 1000.  Multiply the result by the applicable rate, based on the age of your spouse/domestic partner, from the table below to determine the monthly premium. 

Children

The cost of coverage for child(ren) is $1.90 per month per family unit (regardless of the number of children covered).