Asbury University Voluntary Life and AD&D & Group Life and Long Term Disability
New Life Insurance Carrier for 2024 – Lincoln Financial
Voluntary Life -Guaranteed Life Insurance Coverage Amount
• Initial Open Enrollment: When you are first offered this coverage, you can choose a coverage amount up to $250,000 without providing evidence of insurability.
• Annual Limited Enrollment: If you are a continuing employee, you can increase your coverage amount by 2 increments without providing evidence of insurability up to the Guaranteed Life coverage amount. If you submitted evidence of insurability in the past and were declined or withdrawn, you may be required to submit evidence of insurability.
• If you decline this coverage now and wish to enroll later, evidence of insurability may be required and may be at your own expense. Maximum Insurance Coverage Amount
• You can choose a coverage amount up to $750,000. Evidence of Insurability may be required for voluntary life coverage.
No Changes in Rates for Voluntary Life and AD&D Coverage
If you want to update your beneficiaries please complete the following form:
Group Life Beneficiary Designation Form
Please note that beneficiary changes are not considered in force until the form is received in the Human Resources Office.
Additional Benefits available as a part of Group Life Insurance
Do you need term life insurance at a reasonable rate? (View the rate sheet below – rates begin on page 4) .
Voluntary Life Insurance Information Including Rates
Annual Increase in Coverage option
Annual Limited Enrollment: If you are a continuing employee, you can increase your coverage amount by 2 increments without providing evidence of insurability up to the Guaranteed Life coverage amount. If you submitted evidence of insurability in the past and were declined or withdrawn, you may be required to submit evidence of insurability.
Spouse may elect 100% of employee’s benefit up to $250,000.
Complete and sign the enrollment form and submit to Human Resources. Rates and information regarding coverage are listed above.
The information below contains information regarding the group term life insurance that Asbury University provides to full-time benefit eligible employees.