Life Insurance
Hood College provides basic term life insurance to eligible employees. This insurance policy provides coverage for life and accidental death and dismemberment and is provided at no cost to the employee.
- The college provides 1x your annual earnings to a maximum of $125,000 in Basic Life and AD&D insurance.
- Offered through Reliance Standard at no cost to you
- Eligible employees can also elect to purchase voluntary coverage in increments of $10,000 up to a maximum of $500,000
- Premiums for this coverage are based on your elected coverage amount and a rate/1,000 based on your age.
- Employees who elect voluntary coverage for themselves can also purchase dependent life insurance for their dependent spouse/dependent child(ren).
- Plan Highlights
- Dependent Life Options:
- Spouse Life Insurance: $5,000 or $500,000 in increments of $5,000
- Child Life Insurance: $2,000 to $10,000 in increments of $2,000
- Guaranteed Issue:
- Employee: 150,000
- Spouse: 30,000
- Child: All child amounts are guaranteed issue
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