Benefits‎ > ‎

Life Insurance

Life insurance offers you and your family important financial protection. The Ave Maria Employee Health Plan provides a basic Term Life insurance plan for eligible employees.

All participating employees will receive core life insurance coverage which is employer-paid. Your employer pays for one times your annual salary to a maximum benefit of $500,000; however, the maximum guaranteed issue amount, core plus options, is $400,000. Core life insurance amounts in excess of $50,000 will result in imputed income (non-wage compensation) that will be included in the W-2 at year-end.

Accidental Death and Dismemberment (AD&D) insurance provides protection in cases of serious injury or death resulting from an accident. AD&D insurance coverage is provided as part of the basic life insurance plan.

Details of the basic life insurance plan including benefit amounts are described in the Cigna Group Life Certificate; please click here here. Cigna AD&D Certificate; please click here.
 

VOLUNTARY LIFE INSURANCE:

In addition to the coverage above, employees may participate in the Voluntary Life Insurance benefits and buy additional life insurance coverage up to the the guaranteed issue amount of $200,000.  In the event you do not select Voluntary Life Insurance upon first eligiblity, you will be required to complete and submit of an Evidence of Insurability application to Cigna for their review and subsequent approval or denial.  This requirement also applies in the event you wish to increase the volume of coverage during open enrollment.  The premium is based upon age and salary and the cost will be deducted from payroll on an after-tax basis.  To calculate the life insurance level that is best for you, please see page 15 of the Benefits and Enrollment RoadMap for 2017

Details of the life insurance plan including benefit amounts are described in the Cigna Group Life Certificate; please click here here. Cigna AD&D Certificate; please click here.