°Ä²Ê¿ª½± offers a comprehensive financial security plan that includes life, disability, and accident insurance. Learn about eligibility and guidelines for these benefits as well as supplemental insurance options.
°Ä²Ê¿ª½± offers a comprehensive financial security plan that includes life, disability, and accident insurance. Learn about eligibility and guidelines for these benefits as well as supplemental insurance options.
Life/AD&D insurance are an important part of your financial security, especially if others depend on you for support. That’s why °Ä²Ê¿ª½± provides eligible employees with Basic Life/AD&D insurance and the opportunity to purchase supplemental life insurance.
AD&D insurance is similar to regular life insurance. If you should lose your life in an accident -- for example, a car accident -- the amount of coverage you receive is paid to your beneficiary. AD&D insurance also pays a benefit if you are seriously injured in an accident. Part of your benefit may be paid to you, if you lose a limb or the ability to see, hear or speak.
°Ä²Ê¿ª½± provides employees with Basic Life/AD&D Insurance. Coverage equals 2x your basic annual earnings – up to $300,000 – and is offered at no cost.
If you need additional protection, you may purchase supplemental life insurance for yourself and your dependents. Employees are responsible for paying 100% of the cost, which is covered with after-tax payroll deductions.
In the event of an employee’s death in a commercial vehicle, while traveling on University business, a single payment of $200,000 will be made to the named beneficiary(ies).
Insurance beneficiaries should be reviewed annually on the benefits portal.
If you have additional questions about these benefits, contact Human Resources at benefits@colgate.edu or 315-228-7565.