Life Insurance

 Regular status employees are offered one of two life insurance programs:

The main differences are that Gallaudet University covers 50% of the premium towards Standard basic life insurance (one times salary).  Standard also offers MEDEX Travel Assist.  On the other hand, the FEGLI basic life insurance is equal to one times salary plus $2,000.  Gallaudet University covers one-third of the premium towards FEGLI basic life insurance.  FEGLI also provides an Extra Benefit and may be carried into retirement.

A quick comparison of the two, including their costs, is below:

Basic Life Insurance

Feature FEGLI Standard
Amount of Insurance One times salary plus $2,000 One times salary
AD&D Yes Yes
Guarantee Issue Yes Yes
Living Benefit Yes Yes
Assignment Benefit Yes Yes
Employee Cost per $1,000 (Bi-weekly) $0.150 $0.025
Conversion upon Separation Yes Yes

Option A

Amount of Insurance FEGLI
$10,000
Standard
Not Available
Living Benefit No
Assignment Benefit Yes
Employee Cost (Bi-weekly)
Under Age 35 $0.30
35-39 $0.40
40-44 $0.60
45-49 $0.90
50-54 $1.40
55-59 $2.70
60-64 $6.00
65-69 $6.00
70 and above $6.00

Option B

Amount of Insurance FEGLI
1,2,3,4,5 X Salary
Standard
1,2,3,4,5 X Salary
AD&D No No
Living Benefit No No
Assignment Benefit Yes Yes
Employee Cost per $1,000 (Bi-Weekly)
Under Age 30 $0.02 $0.03
30-34 $0.02 $0.04
35-39 $0.03 $0.04
40-44 $0.05 $0.05
45-49 $0.08 $0.08
50-54 $0.13 $0.14
55-59 $0.23 $0.26
60-64 $0.52 $0.32
65-69 $0.62 $0.60
70-74 $1.14 $0.97
75-79 $1.80 $0.97
80 and over $2.40 $0.97

Option C

Amount of Insurance FEGLI
1,2,3,4,5 X $5,000 Spouse
1,2,3,4,5 X $2,500 Dependent
Standard
1,2,3,4,5 X $5,000 Spouse
1,2,3,4,5 X $2,500 Dependent
AD&D No No
Living Benefit No No
Assignment Benefit No No
Employee Cost (Bi-weekly) (Based on age of employee) PER MULTIPLE (Based on age of employee) PER MULTIPLE
Under Age 30 $0.22 $0.15
30-34 $0.22 $0.18
35-39 $0.29 $0.20
40-44 $0.42 $0.26
45-49 $0.63 $0.39
50-54 $0.94 $0.69
55-59 $1.52 $1.12
60-64 $2.70 $1.96
65-69 $3.14 $3.30
70-74 $3.60 $5.31
75-79 $4.80 $5.31
80 and over $6.60 $5.31


For more information about life insurance, please contact the Benefits Office.

 

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