Group Life and Accidental Death and Dismemberment Plan

Basic Life Insurance
Principal Life Insurance Company
(Effective 6/1/06)

Employee

200% Basic Annual Compensation

Retiree under 65 (1)

$5,000

Retiree 65 and over

$5,000
  24 hour-a-day coverage

Accidental Death Benefit

Employee

Equals the insured's life insurance benefit.

Retiree under 65

None

Retiree 65 and over

None

 

24 hour-a-day coverage

Accidental Dismemberment Benefit

100% of life benefit for loss of both hands,

feet, or eyes; or for loss of combination of

hands, feet, or eyes.

AD&D Features

Seatbelt and Airbag, Education and

Repatriation Benefits; 365-day Event Period

Conversion Privilege

Insurability not required if converted within 31 days.

Accelerated Benefit

If terminally ill and life expectance is 12

months or less, may request a portion of life

insurance benefit.

Age Reduction Schedule
(Employees Only)

Coverage is 65% of pre-age 65 amount at

age 65, 50% at age 70, and 35% at age 75.

Voluntary Life Insurance

Employee

Up to $500,000 (Excluding Basic Life Insurance)

Spouse

Up to $100,000

Children

Up to $10,000

Rates based on employee's age. Underwriting required for amounts over $400,000 for employee and $50,000 for spouse. All amounts elected can be ported to age 75.

University News
November 26, 2014
Nonpartisan political analyst Charlie Cook will usher in the 2016 election season with insights on the key 2014 mid-term election races and a preview of the upcoming presidential race.
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