As of January 1, 2014, we are switching our life insurance carrier from Hartford to AIG.
The first component of the Life Insurance Program provides insurance in the amount of one times the covered employee's base annual or contract salary - up to a maximum of $400,000.
The entire premium for the Base Plan is paid by Saint Louis University, and becomes effective on your date of full time employment.
You may select additional levels of life insurance equal to one, two, or three times your base annual salary, with a maximum amount of $400,000 between the base and optional coverage. The optional insurance will be at your cost.
The monthly cost for optional coverage is based upon the participating employee's age according to the schedule below.
|Age||Monthly Rate Factor||Bi-Weekly Rate Factor|
|Less than 30||0.000039||0.0000180|
To calculate the premium for an additional one, two or three times your annual salary, multiply your annual salary by the monthly or bi-weekly rate factor that corresponds to your age. This amount will equal the premium for each optional 1 time the annual salary benefit amount.
Changing Life Insurance
Return the completed forms to the Benefits office or fax to 314-977-1785.