Employees Can Take Advantage of Supplemental Life Insurance
It's not too late to sign up for life insurance. As an employee of Duke University and Health System,
you have access to a supplemental life insurance program that lets you protect your priorities and prepare
for the future. As a rule of thumb, financial experts recommend five to nine times your annual salary in
life protection.
What is supplemental life insurance?
When comparing life insurance products, most people look at:
- Who is covered,
- Coverage amounts,
- Cost,
- How long the coverage can remain in force, and
- Additional benefits.
Your supplemental life program provides life insurance protection for you and your family, as well as
your financial goals with flexible coverage, group rates, and other additional benefits.
Flexible coverage amounts
| Employee Coverage |
Spouse/Spousal
Equivalent Coverage |
Child Coverage |
| 1 to 8 times your annual
salary (not to exceed $2,500,000) |
$10,000 increments up to
$100,000 |
$10,000 for each eligible
child |
Cost and convenience
Since you are applying for coverage through your employer's benefit program, you have access to affordable
group rates. Along with affordable rates, you have the convenience of payroll deduction. Monthly payments
are automatically taken from your paycheck on a post-tax basis.
Portable Coverage
Your Duke Supplemental Life insurance is portable coverage that you can keep when you retire. Coverage
must be in effect for two years to qualify for portability.
Additional benefits
- Accelerated Payment Benefit -- provides an advance payment of your life insurance benefit if you are
diagnosed with a terminal illness.
- Automatic Coverage Increase -- allows your coverage to increase each year as your annual salary increases.
For more information on your supplemental life program or to enroll, visit the web site
at www.personal-plans.com/duke
or call Marsh at 1-800-552-9670.
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