Universal Life Insurance is one of Duke's Flex Benefits. You have the flexibility to choose from this
broad range of benefit options for the coverage that best fits your life and your budget.
Universal Life Insurance
Employees and faculty regularly scheduled to work at least 20 hours per week are
eligible to purchase universal life insurance through payroll deduction. This is
a voluntary, employee paid program and is paid through payroll deduction. The
Universal Life Insurance program is not covered under the
Employee Retirement Income Security Act
(ERISA).
Eligibility
You are eligible to participate in the universal life insurance program if
you are an active employee or faculty, regularly scheduled to work at least
20 hours per week. You may convert the insurance to a direct pay policy when
you terminate or retire from Duke. House staff are not eligible for this
program.
An employee covered by a collective bargaining agreement isn't eligible
to participate in the program, unless participation was mutually agreed
to in the bargaining agreement.
Enrolling
The Holroyd Agency is the vendor authorized to provide you with the opportunity to buy this
insurance through payroll deduction. This coverage also includes the potential for cash
accumulation through a cash value account. In general, a portion of the premium
you pay is used to pay expenses and the cost of the insurance, and the balance
of the premium goes into a cash accumulation fund. The interest earned on this
accumulation is tax-deferred.
You may sign up for coverage at any time.
To sign up for coverage with the Holroyd Agency, please contact them using the
toll free number provided below.
See the Plan Information section for a chart highlighting information
from the Holroyd Agency about their product as well as contact information
for each vendor. You may contact the Holroyd Agency to obtain additional information
regarding coverage. Duke reserves the right, in its sole discretion, to modify, suspend or terminate
this program at any time, for any reason.
Plan Information
Holroyd Agency
1-800-582-1879 |
Coverage Type/Amounts
Qualified Issue1
3 x salary up to $100,000
Family Coverage Available
Underwritten by ReliaStar Life Insurance Co. of NY |
Minimum 4.5% |
- Qualified Issue for the insurance through the Holroyd Agency requires two
questions be satisfactorily answered. These questions are, "Have you been
hospitalized within the past 90 days? and Have you been diagnosed or treated
for AIDS or AIDS related complex?"
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