UW Employees, Inc. Coverage Increases
September 25, 2014
Effective on October 1, 2014 all coverage levels of the UW Employees, Inc. Life Insurance program are increasing by $3,000 with no additional cost to participants.
| Age (01-01-20xx) | New Benefits Amount | Monthly Cost |
|---|---|---|
| Under 35 | $33,000 | $1.00 |
| 35 - 39 | $28,000 | $1.25 |
| 40 - 44 | $25,000 | $1.60 |
| 45 - 49 | $18,000 | $2.00 |
| 50 - 54 | $15,000 | $2.40 |
| 55 - 59 | $13,000 | $3.80 |
| 60 - 64 | $12,000 | $4.35 |
| 65 and over | $7,000 | $3.00 |
The UW Employees, Inc. Life Insurance program provides affordable decreasing term life insurance coverage based on age. In addition to benefits payable at the time of death, the plan offers an Accelerated Death benefit if an employee is diagnosed as terminally ill with a life expectancy of 12 months or less, and an opportunity to convert coverage at the end of employment.
If you did not enroll in the plan when initially eligible, you may apply for coverage through Evidence of Insurability (acceptance not guaranteed).
See the Plan Brochure or Plan Certificate for more information and always remember to keep your Beneficiary Designation up-to-date.
If you have questions, please contact your institution’s Benefit Office.
Source: UW System Administration
Categories: Employee Reimbursement Account