The College provides you with a Life Insurance policy of twice your annual base salary rounded to the next highest $1,000 up to a maximum of $500,000. If the Life Insurance provided by the college totals more than $50,000, the cost of the insurance coverage over $50,000 will be taxed as income and identified as excess life on your statement of earnings. This policy is convertible upon separation from employment.
See also Policy 300.50
For more information on this benefit, please visit this insurance vendor’s website by selecting their name from the quick links dropdown or login to your ICUBA Benefits site and visit the Benefits Library or ICUBA News and Information section.