Life Insurance and AD&D
Life insurance provides financial protection to your survivors in the event of your death. Our Life and AD&D Insurance is provided through MetLife.
|
Option |
Cost/Month |
Benefit for Full-Time, Benefits-Eligible Employees |
How to Enroll |
|
Basic Life Insurance |
none |
One times your life base salary* |
Automatically enrolled. |
|
Supplemental Life Insurance |
Up to four times your life base salary*, up to a maximum benefit of $1 million (Basic and Supplemental combined.) You may increase your Supplemental coverage by 1 level at Open Enrollment or when you experience a life status change. |
Choose it within 31 days of your hire, during Open Enrollment or with 31 days of a Life or Family Status Change. Statement of health is required for Supplemental coverage of more than $500,000 (not combined with Basic). |
(The Life Insurance program for benefits-eligible part-time employees and for union members of Local 95 differs from that described above.)
Accidental Death and Dismemberment (AD&D)
The Life Insurance includes an accidental death and dismemberment (AD&D) component. If your death is the result of an accident your beneficiary will receive double your insurance amount. AD&D coverage also pays a certain amount if you lose a limb or certain vital functions as a result of an accident.
Special Features of Supplemental Life Insurance Plan
- Will Preparation – for you and your spouse/domestic partner at no additional cost if you have supplemental life insurance.
- Enhanced Portability – continue Supplemental Life Insurance at your own expense if you terminate your employment or your coverage under the plan ends.
- Accelerated Benefits Option - receive up to 80% of your insurance (up to $500,000) if you are diagnosed as terminally ill with a life expectancy of twelve months or less.
- Total Control Account - provides your loved ones with a way to manage the proceeds of the policy when an insurance benefit is paid.
Month After Death Benefit
If an eligible full-time faculty or staff member dies while actively employed by the university (employees on disability leave are not eligible), his or her life insurance beneficiaries will receive a cash payment equal to one month's pay -- one-ninth of an academic year salary or one-twelfth of a twelve-month employee's salary. For eligible CPA members, this equals 168 hours of straight-time pay. To be eligible for this feature, you must have one year of continuous service at Carnegie Mellon. Coverage begins automatically when you are eligible; no enrollment is necesary
Life Insurance Base Salary
The life base salary is based on your annual salary when you are hired, and annually thereafter as of October for the following year. It is rounded up to the nearest $1,000. The life base salary for those on a 12-month appointment is equal to your annual salary. The life base salary for those on a 9-month appointment is equal to 11/9 times academic year salary. It does not include salary for appointments of less than 4 month, faculty summer salary, or special compensation.
For more information: