Supplemental Group Life Insurance

Supplemental group life insurance: Planning ahead for your loved ones

Employees who have basic life insurance are also eligible to purchase additional coverage through IU’s supplemental life insurance plan. Enrollment is voluntary and you pay 100% of the premium.

This is a term-life plan that provides a death benefit of 1–4 times the employee’s base annual salary and can also be purchased for the employee’s eligible spouse and/or children. See the dependent life section on this page for more details.

Filing a claim

If a covered family member passes away, contact IU Human Resources at askHR@iu.edu or 812-856-1234 to initiate a life insurance claim. Review the information in the guides below for additional steps to take in this situation.

Employee coverage options

The amount of insurance is a multiple of your salary up to the corresponding guarantee issue or maximum coverage amount listed in the chart. While the cost per $1,000 of coverage is the same for guarantee issue and maximum coverage options, the monthly premium rate will change as your age and salary change. Enrolling in any maximum coverage level also requires you to submit a medical history statement to The Standard for approval. See the cost and enrollment sections on this page for additional details.

Example coverage options
Salary amountGuaranteed issueMaximum coverage
One times salary$50,000$250,000
Two times salary$100,000$500,000
Three times salary$150,000$750,000
Four times salary$200,000$1,000,000

Check out the Life Insurance Needs Calculator from The Standard.

Get your estimate

Cost

The cost for supplemental coverage is paid entirely by you (the employee) and your premium is a designated amount, based on age, per $1,000 of coverage.

While the cost per $1,000 of coverage is the same for guarantee issue and maximum coverage options, the monthly premium rate will change as you age. Depending upon your level of coverage, the monthly premium cost may also change with changes in salary.

Monthly premium rates
AgeMonthly premium per $1,000 of coverage
Under 30$.03
30-34$.04
35-39$.05
40-44$.06
45-49$.09
50-54$.14
55-59$.24
60-64$.37
65-69$.67
70 and over$1.20

Supplemental dependent life insurance

Employees who choose supplemental life insurance can also purchase supplemental dependent life insurance coverage. Enrollment is voluntary and you pay 100% of the premium.

This coverage supplements the $3,000 spouse/$1,000 child benefit automatically included in your IU-sponsored basic life insurance. Eligible dependents include your spouse and children from birth through age 25.

Eligible employees can enroll, change, or terminate their Supplemental Dependent Life election(s) at any time by submitting a Supplemental Dependent Life Enrollment / Change / Termination Form to IU Human Resources.

The premium cost listed below is in addition to the monthly premium paid for employee coverage.

Supplemental spouse life insurance
Coverage optionBenefit amountMonthly premium cost
Option 1$10,000$2.00
Option 2$20,000$4.00
Option 3$30,000$6.00
Option 4$45,000$9.00
Supplemental child life insurance
Benefit amountMonthly premium cost*
$10,000$2.00

*The monthly premium cost provides a $10,000 benefit for every dependent child of the employee from birth through age 25.

Enrollment

Employees can enroll in supplemental life insurance, up to the guaranteed issue amount, within 30 days of becoming eligible (typically your date of hire) without providing evidence of insurability.

Employees who increase their coverage after 30 days of becoming eligible, enroll after 30 days of becoming eligible, or elect any maximum coverage amount, may only do so by proving evidence of insurability. To do that, submit a Medical History Statement for approval to The Standard.

Note: In some cases, The Standard may request additional medical information or a physical exam. The Standard will notify you and IUHR of their determination and who will process your enrollment if approved.

  • If you are enrolling in coverage within 30 days of becoming eligible, your enrollment can be processed by submitting a completed Enroll / Change / Terminate form to the IU Human Resources office.

  • Evidence of insurability is required if:
    • You are enrolling in coverage within 30 days of becoming eligible AND enrolling in the maximum coverage option, OR
    • You are enrolling in coverage more than 30 days after first becoming an eligible employee.

If evidence of insurability is required:

  1. Complete the appropriate Medical History Statement form according to your state of residence
  2. Complete the Enroll/Change/Terminate form (PDF)
  3. Mail both documents to Standard Insurance Company (address noted at the top left hand corner of the Medical History Statement) for review and determination of approval. Your coverage request will be processed after the university receives notification of approval from Standard Insurance.

  • To decrease your level of coverage at any time, submit an online optional benefit change:
    • Log in to the Employee Center using your IU username/passphrase and Duo
    • Select the Benefit Details tile
    • Select the Optional Benefit Changes tile
    • Follow the prompts to decrease your level of coverage
    • Be sure to click the Submit Enrollment button at the end of your session

Alternatively, you can submit a completed Enroll / Change / Terminate form to the IU Human Resources office.

  • To increase your level of coverage at any time after the initial 30 day period, evidence of insurability is required. To make a change:
    1. Complete the appropriate Medical History Statement form according to your state of residence
    2. Complete the Enroll / Change / Terminate form
    3. Mail both documents to Standard Insurance Company (address noted at the top left hand corner of the Medical History Statement) for review and determination of approval. Your coverage request will be processed after the university receives notification of approval from Standard Insurance.