LIFE INSURANCE (1)

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Life Insurance Plans
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Life Insurance
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Group Basic Life Insurance Providence College
provides a group life insurance program with
accidental death and dismemberment (ADD)
coverage for eligible employees.  The College
pays all premiums.  The amount of coverage is an
employee's annual base salary (rounded to the
nearest 1000) plus 5000 to a maximum of
175,000 with a matching ADD Plan.  Upon
request, and without a medical examination, an
employee may convert this policy to an individual
plan within 31 days of ending employment at the
College. 
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Supplemental Employee Life Insurance For greater
financial protection, you can choose to increase
your life insurance coverage above the basic life
insurance provided by the College. This
insurance is available to employees at low group
rates based upon the employee's age and salary.  
You can choose anywhere from one to five times
your annual salary to a maximum of 500,000. 
No Evidence of Insurability (EOI) is required
for the optional insurance less than two times
annual salary of 300,000 (whichever is greater)
as long as it is purchased during the first 31
days of initial eligibility or during the first
31 days after marriage or the birth/adoption of a
child. 
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Dependent Child Life Coverage Employees may
purchase 10,000 of life insurance on the life of
their spouse and 5,000 of life insurance on the
life of each dependent child (birth to age 19 or
23 if a full-time student). There is a flat
monthly rate for this insurance regardless of the
number of children on this policy.  This
insurance is available without an EOI during the
first 31 days of initial eligibility or during
the open enrollment period.  If the insurance
is purchased within either of these periods,
children born/adopted later will automatically be
covered.
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