Group Term Life Insurance - Active Employee

Group Term Life Insurance - Active Employee
document  RESOURCES

 

Life and AD&D Benefits Video

Dearborn National Website


mail  CONTACT

Dearborn National CUSTOMER SERVICE
(866) 628-2606 

Claims Address: 
1020 31st Street 
Downers Grove, IL 60515-5591

Life Insurance Benefits Effective September 1, 2016

Documents for the 2016-2017 plan year will be updated soon.

Group term life (GTL) insurance can help ensure financial security for your family and loved ones upon your death. UT System, through the vendor Dearborn National, provides eligible employees with $40,000 basic GTL as part of the basic coverage package. Benefits-eligible employees enrolled in the UT SELECT Medical Plan are automatically enrolled in this basic coverage.

Regular benefits-eligible active employees also have the opportunity to purchase additional employee and dependent coverage at group rates.

Basic Group Term Life (GTL) Benefits

Basic group term life insurance in the amount of $40,000 is a part of the basic coverage package. Full time eligible employees enrolled in the UT SELECT Medical plan are automatically enrolled in the basic GTL at no cost and without Evidence of Insurability (EOI).

Voluntary Group Term Life Options

Coverage Level Benefit Amount
Employee Voluntary GTL (available with or without Basic GTL) 1 to 10 times Annual Compensation up to a maximum of $2,000,000
Dependent Voluntary GTL* $10,000 (Benefit amount for spouse and each eligible dependent child)
Additional Spouse Voluntary GTL* $15,000 or $40,000 in addition to the $10,000 Dependent Voluntary GTL

*Employee must be enrolled in Employee Voluntary GTL benefits in order to elect benefits for spouse and/or dependent children.

Active employees who participate in an alternative UT System health institution life plan are not eligible to participate in the Voluntary Group Term Life plan offered under Dearborn National.

Evidence of insurability (EOI) is required for:

  • Employee Voluntary GTL coverage of up to 3 times annual salary, except within the initial 31-day benefit election period or following a qualified change of status;
  • Employee Voluntary GTL coverage of 4, 5, or 6 times annual salary; or
  • Additional Spouse Voluntary GTL. 

The dependent voluntary GTL premium provides coverage of $10,000 for each eligible dependent regardless of how many dependents are covered. Employee Voluntary GTL and Additional Spouse Voluntary GTL premium is based on the enrolled person’s age and benefit coverage level.

Rates for 2016-2017

EMPLOYEE RATE CHART
 
SPOUSE RATE CHART

 

 Age of Subscriber

Rate per $1,000 Coverage

 

 

Age  of Spouse

Rate per $1,000 Coverage

 

 

 

15 – 24

$0.053

 

 

 

25 – 29

$0.054

15 - 34

$0.037

 

30 – 34

$0.057

35 – 39

$0.047

 

35 – 39

$0.072

40 – 44

$0.063

 

40 – 44

$0.101

45 – 49

$0.097

 

45 – 49

$0.154

50 – 54

$0.150

 

50 – 54

$0.241

55 - 59

$0.233

 

55 - 59

$0.376

60 - 64

$0.364

 

60 - 64

$0.574

65 - 69

$0.650

 

65 - 69

$0.857

70 - 74

$0.752

 

70 - 74

$1.167

75 - 79

$0.932

75 - 79

$1.446

80 and over

$1.634

80 and over $2.536

 

http://www.UTSystem.edu © 2016 The University of Texas System.
601 Colorado Street, Austin, Texas 78701-2982. (512)499-4200