TSS - Life Insurance Plans

Life Insurance Plans

Rate this Article (Average Rating: 0) Show Properties
First Published  :Mon Dec 01 12:06:50 GMT 2014
Last Modified  :Mon Sep 25 17:51:11 GMT 2017
Last Published  :Wed May 17 20:47:17 GMT 2017
Summary :  Reference for benefits eligible employees who have inquiries about Life Insurance Plans. Audience: Benefits Eligible Employees

Response

Primary Information

    Basic and Supplemental Life Insurance
     
    Prudential Insurance Company of America has been selected as the University’s Life, Long Term Disability and Accidental Death and Dismemberment vendor. Prudential Insurance Company of America is an A-Rated Insurance company that offers the most competitive pricing and enhanced benefits.
     
    Basic Life Insurance
    Tufts University provides Basic Life Insurance for all benefits eligible employees through Prudential. This benefit is paid for by the University. The amount of coverage is equal to one times your annual base salary, rounded to the next highest $1,000, with a maximum of $1,000,000.
     
    Supplemental Life Insurance

    The Supplemental Life Insurance program through Prudential offers you the opportunity to purchase additional life insurance coverage up to five (5) times your annual base salary or a $2,000,000 maximum. Amounts in excess of the lesser of 3 times your annual base salary or $750,000 require Evidence of Insurability.  Supplemental Life Insurance can only be elected during the university's open enrollment period or within the first 31 days of your date of hire or if you have an eligible Qualified Status Change See Eligibility Section below.

    • As a new hire or newly benefits eligible employee, you can elect the lesser of 3X basic annual earnings or $750,000 of coverage without Evidence of Insurability. You may also request to elect 4X or 5X basic annual earnings with the submission of an Evidence of Insurability Letter/Short Form Health Statement  and subsequent submission of the Evidence of Insurability form. Once Tufts Support Services has received approval from Prudential, we will start your payroll deductions retroactive to your hire date
    • If you do not elect Supplemental or Dependent life when initially eligible or if you want to increase your coverage, you can request these changes if you experience an eligible Qualified Status Change or at any subsequent annual Open Enrollment by submitting the Evidence of Insurability Letter/Short Form Health Statement form to apply for the increase in coverage. Once you and the Benefits Office receive application approval from Prudential, payroll deductions will begin on the 1st of the month following approval or January 1st if an application is submitted and approved by December 31st at Open Enrollment.
     rates  
    *The premium for this plan is based upon your age as of the end of each pay period. As a result, your deduction amount may change after your next birthday.
     
    DEPENDENT LIFE INSURANCE

    In addition to coverage for yourself, you can also enroll in Supplemental Life Insurance for your eligible family members, including:

    • Your legal spouse or qualified domestic partner
    • Unmarried dependent children who are at least 15 days old, but under age 26
    • Unmarried dependent children who are mentally or physically disabled, or who cannot support themselves due to a handicap

    These coverages are guarantee issue to you as a new hire, which means you do not have to complete an evidence of insurability form and apply for coverage, you can just enroll.

    If you choose coverage for your spouse or qualified domestic partner, you will need to apply using a Prudential Short Form Health Statement during a subsequent annual open enrollment period. Supplemental Child Life Insurance does not require the Short Form Health Statement.

    In the event you receive a claim payout, the payout you receive would not be taxable since these coverages are paid with after-tax payroll deductions.

    Please note that the amount of your dependent coverage for a spouse or qualified domestic partner cannot exceed your Basic and Supplemental Life coverage as an employee. For example, if your base annual salary is $40,000 and you only have basic life insurance (which is one times your salary), you cannot enroll in the $50,000 benefit for your spouse, unless you also enroll in one times your salary for supplemental life. Your total coverage (basic plus supplemental) must be equal to or greater than your spousal coverage.

     
    Note:  Prudential has a streamlined approach for making decisions regarding Statement of Health applications. Once the Benefits Office has received approval from Prudential, payroll deductions will begin retroactive to your hire date or approval date, whichever is later.

     

    ELIGIBILITY: If you do not enroll within 31 days of the date you are first eligible, you will not be able to enroll until the next annual open enrollment, unless you experience a Qualified Status Change. See Change in Benefits Election after Change in Life Status (Qualified Status Changes, but specifically, you may change your supplemental life and dependent life insurance if you experience a qualified status change that relates to one of the following events:

    •  Events that change your legal marital or Qualified Domestic Partnership status (including marriage, commencement of Qualified Domestic Partner relationship (as evidenced by filing an Affidavit of Qualified Domestic Partnership), divorce, legal separation, annulment or the death of your Spouse, or termination of a Qualified Domestic Partner relationship); or
    •  Events that change the number of your dependents (including birth, adoption or placement for adoption, or the death of a dependent, including a Qualified Domestic Partner).
    All active, regular employees at the University are eligible, provided that you are one of the following, See pages 5-8 of the Summary Plan Description for Benefits Eligible Employees for full Eligibility information for Staff, Faculty, Dependents, and Retirees.
    •  an exempt or non-exempt employee regularly scheduled to work 17.5 hours or more a week, with a minimum 90 days employment period; or
    • a faculty member with at least a half time (as determined by the academic department), two semester appointment
    • a party to a job share contract (a job share contract is any contractual arrangement under which two employees, who each normally work at least 17.5 hours per week , fulfill the responsibilities of one job in accordance with the University’s job sharing policy and all personnel policies and procedures then in effect)
      
    Making Changes to Beneficiaries - click here and follow the path noted.

    Vendor Contact Information
     
    The Prudential Insurance Company of America
    80 Livingston Avenue
    Roseland, New Jersey 07068

    888-257-0412
     
    A claim should be made without delay. Please contact Tufts Support Services at 617-627-7000 to initiate the claims process.
     
     
    Please see Life Insurance on AccessTufts as well as the Summary Plan Description, for more information on the life insurance plans offered to eligible employees at Tufts.

Related Information

    Link to Life Insurance on AccessTufts 

    Forms/Documents:

    Prudential Certificate and Life/AD&D Insurance Plan Description
     

    Evidence of Insurability Letter/Short Form Health Statement - All applications to enroll or to increase the amount of Supplemental Employee, Dependent Life or LTD insurance during Open Enrollment OR at an eligible Qualified Status Change event OR to request more than 3x for Supplemental Employee at New Hire, will require an Evidence of Insurability form and approval from the insurance company. The form should be submitted to Prudential by December 31st.  Prudential will then let advise if the request has been approved. *Note the process has changed from last year. Instead of completing the Request form and sending to TSS/Benefits who forwards to Prudential, the Request form with attached Short Form Health statement should be returned directly to Prudential- fax to (617) 587-5998 or mail to: The Prudential Insurance Company of America, Attention: Melissa O’Brien, 800 Boylston Street, 14th Floor, Boston, MA 02199


    Summary Plan Description for Benefits Eligible Employees- all University Benefits/Plans

    Retiree Information Letter - life insurance information

     

Information

Keywords

    Life insurance, spousal insurance, death claim, supplemental life insurance, dependent life insurance