Benefits Education - Employee Life Insurance Coverage

Employee Life Insurance Coverage

A Basic Life Insurance policy is provided to all full-time benefits eligible employees at two-times their annualized salary up to $200,000.  This Basic Life insurance includes Accidental Death and Dismemberment coverage (AD&D).  The payout schedule for AD&D, can be found in the Group Life Insurance Certificate located at http://hr.okstate.edu/benefits/life.

Supplemental Life insurance can be purchased by employees in addition to the basic life policy.  Employees can elect supplemental life insurance coverage up to five-times their annualized salary not to exceed $750,000.  Within 30-days of an employee’s hire date, an employee can elect up to two-time their annualized salary not to exceed $250,000.  At any point during the year, employees can request to add supplemental life insurance or increase their current insurance by completing and submitting a Life Insurance Evidence of Insurability (EOI) form.  The EOI can be found at http://hr.okstate.edu/benefits/life.

During annual enrollment, employees who have supplemental life insurance have the option to increase their supplemental life insurance by $5,000 without EOI.

Want to know how much life insurance you currently have?  Login to Web for Employees, https://webemp.okstate.edu, and click on Total Compensation Report.