Group Term Life Insurance - Active Employee

Body

 

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 to 10 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.

    Out of Pocket Rates

    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

     


     

    Resources

    Contact

    Dearborn National CUSTOMER SERVICE  (866) 628-2606   

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