Optional Term Life

Voluntary coverage is available to all regular full-time employees, their spouses, and dependent children up to age 26. Coverage is offered on a guaranteed issue basis, with no underwriting requirements, if you submit your application within your initial enrollment period.  

For more information, review the Life Insurance Transition section of the Transitioning Your Benefits page. 

You can choose to purchase additional Optional Term Life insurance to supplement your company-provided life insurance and/or to replace any other personal policies you may hold. You can purchase coverage for yourself, and/or your spouse and eligible dependents. These policies are offered by Prudential.

Employees can elect coverage in amounts 1 to 8 times annual earnings to a maximum of $2.5 million. Employees can enroll for coverage up to the guaranteed issue amount - the lesser of 3x salary or $600,000—without providing proof of good health during their new hire enrollment period.  Applications for coverage submitted outside of the new hire enrollment period include a series of simplified underwriting questions.

An employee’s spouse can elect coverage in $10k increments up to a maximum of $250,000, not to exceed 100% of the employee’s company provided and optional term life amount. Spouses can enroll for coverage up to the guaranteed issue limit of $30,000 without providing proof of good health during the employee’s new hire enrollment period.

Dependent child(ren) from birth to age 26 have a choice of $5k or $10k, not to exceed 100% of the employee’s optional life amount.