All full-time faculty, full-time, regular and full-time term staff members are eligible to participate. Eligibility commences the first of the month following the faculty/staff member's employment date.
The University offers a choice of six levels of term life insurance for each faculty/staff member. LMU pays the premium for the basic coverage of 1 X annual salary (minimum of $50,000) per faculty/staff member. Any premium for supplemental coverage will be deducted from the paycheck on a pre‐tax basis. Term life insurance is also available for spouse/domestic partner and dependent children if the faculty/staff member is enrolled in supplemental life. The cost for spouse/domestic partner and dependent children insurance will be deducted from the paycheck on an after‐tax basis.
Effective January 1, 2014 through December 31, 2014. Contribution rates are evaluated annually and subject to change, from time to time, at the sole discretion of the university.
Note: This summary is for discussion purposes only. The Summary Plan Descriptions available from Human Resources contain detailed description of the benefit. The Plan Document, on file in Human Resources, is controlling for the adjustment or settlement of disputed claims.