Georgia Tech offers Basic Life and Accidental Death and Dismemberment (AD&D) Insurance coverage and the option to obtain additional Supplemental Life and AD&D insurance, Critical Illness, and Permanent Whole Life insurance for the employee, their spouse, and eligible dependents.
Eligibility
Employees - Regular, full-time/part-time faculty or staff who work at least 30 hours per week.
Effective Date of Coverage
Georgia Tech provides employer-paid Basic Life and AD&D Insurance for all eligible employees in the amount of $25,000 for both policies.
The $25,000 Basic Life and Basic AD&D insurance is effective on your date of hire. You must designate a beneficiary during New Employee Orientation or by submitting your Beneficiary Designation form to the Office of Human Resources (OHR), located at 500 Tech Parkway, Atlanta, GA, upon your date of hire. If you need to change your beneficiary, you may complete and submit the Board of Regents CIGNA Beneficiary Designation Form to OHR.
Employees covered under the Georgia Tech Basic Life and AD&D insurance are eligible for the following CIGNA Life Enhancements:
You have the option to elect Supplemental Life Insurance for yourself, your spouse, or eligible dependents. Supplemental Life insurance elections are effective the first of the month following your date of hire.
Supplemental Life Insurance Options
Board of Regents CIGNA Supplemental Life
Employees are able to enroll in Supplemental Life insurance for one, two, or three times their annual salary. The coverage amount is rounded to the next highest $1,000 and has a $1 million maximum. Premiums are based on age and salary. Dependent Life is available ($10,000 for spouse; $10,000 for age 6 months to 19 years or 25 if unmarried and full-time student; $2,000 for 2 weeks to 6 months). Your Supplemental Life insurance benefit automatically increases with your salary. Age reduction for the covered amount begins at age 67 under this policy.
Unum Supplemental Life
Employees are able to enroll in Supplemental Life insurance in increments of $10,000 and have guaranteed issue up to the lesser of $500,000 or three times annual salary or with Evidence of Insurability during Open Enrollment up to the lesser of six times annual salary or $1,000,000. Age reduction for the covered amount begins at age 70 under this policy.
Spouse Life insurance is available for the spouse or domestic partner. You may elect coverage in increments of $10,000 and have guaranteed issue up to $50,000 or with Evidence of Insurability during Open Enrollment up to the lesser of $250,000 or 100 percent of the employee's supplemental life insurance election. Enrollment in Employee Supplemental Life insurance is required for Spouse Life insurance.
Dependent Child Life insurance is available in increments of $2,000 up to $10,000. Enrollment in Employee Supplemental Life insurance is required for Dependent Child Life insurance.
Unum Supplemental AD&D
Employees are able to enroll in Supplemental AD&D insurance in increments of $10,000 and have a maximum guaranteed issue up to the lesser of $1,000,000 or six times annual salary. Age reduction for the covered amount begins at age 70 under this policy.
Spouse AD&D insurance is available for the spouse or domestic partner. You may elect coverage in increments of $10,000 and have a maximum guaranteed issue up to $500,000. Enrollment in Employee Supplemental AD&D insurance is required for Spouse AD&D insurance.
Dependent AD&D insurance is available in increments of $2,000 up to $10,000. Enrollment in Employee Supplemental AD&D insurance is required for Dependent AD&D insurance.
Critical Illness Policy
Employees are able to enroll in the Unum Critical Illness Policy only during the annual open enrollment period. A Critical Illness Policy provides financial protection to you by paying a benefit if you are diagnosed with a specified critical illness. While your health insurance will cover a majority of your medical bills, it may not cover all of the unforeseen expenses associated with a serious medical condition such as a heart attack or cancer. The benefit amount you receive is based on the amount of coverage in effect on the date of diagnosis of a specified critical illness or the date treatment is received according to the terms and provisions of the policy. You also have the opportunity to have coverage for your spouse. You may review the Unum Critical Illness Policy to obtain additional information.
A Unum enrollment counselor can help you select a benefit amount and calculate the cost, which will vary depending upon factors such as your age, whether you use tobacco, and the dependent coverage you choose.
To file a Critical Illness claim, complete the Unum Critical Illness - Wellness Benefit Claim form and send directly to Unum.
- For amounts within the guarantee issue limits, newly eligible employees may enroll in coverage with no evidence of insurability.
- For amounts above the guarantee issue limits, evidence of insurability is required.
- For current enrollees who wish to increase coverage, evidence of insurability is required for any increase in coverage.
- For previously eligible employees who declined coverage but now wish to enroll, evidence of insurability is required for any amount of coverage.
You may reach Unum at 1-800-635-5597 to cancel your policy at any time.
Permanent Whole Life Insurance
Employees have the opportunity to add to your family's protection by purchasing Permanent Whole Life Insurance. Aside from providing death benefits to your beneficiaries, Permanent Whole Life Insurance builds cash value that you can utilize while you are still alive. Your premiums remain the same level as the day you applied (as long as you pay premiums on time). Unlike term life insurance policies, which often end when you leave your job, Permanent Whole Life Insurance offers coverage you can take with you - even after you retire. In addition to a death benefit, this plan offers:
- Coverage for your spouse, children and/or grandchildren. Totally disabled dependents are not eligible for guarantee issue protection.
- A guaranteed level premium that will not increase due to your age.
- Guarantee issue limit will be provided by your Unum enrollment counselor. Employees hired in 2012 are not eligible for coverage until 2013.
- Coverage is portable — you can take your policy with you if you leave Georgia Tech and carry your life insurance coverage into your retirement.
- Optional Long-term Care benefit provides benefits if a physician certifies the insured is functionally impaired and requires Long-term Care provided through nursing home care, assisted living facility, home health care, or adult day care.*
- For current enrollees wishing to increase coverage, any portion of the guarantee issue limit will be available on a guarantee issue basis at open enrollment; for amounts greater than the guarantee issue limit, evidence of insurability will be required.
- For previously eligible employees who declined coverage but now wish to enroll, evidence of insurability will be required for any amount of coverage.
You may reach Unum at 1-800-635-5597 to cancel your policy at any time.
*This rider is not available in CA, FL, NY, and WA.
Cost
The cost of Supplemental Life insurance is paid entirely by the employee and varies based on which plan you select, the age of the covered individual, and whether or not they smoke. Dependent child life insurance rates vary based on plan selection.
Board of Regents CIGNA Life Insurance Rates
Academic Prepayments
Since January 1st, 2000, employees on an academic pay cycle have a new deduction schedule which prorates the summer insurance premiums over the last five paychecks of the academic year (January-May). This new deduction schedule was implemented to avoid having to make a triple deduction in the May paycheck to cover benefit premiums over the summer. The advance deductions for summer paychecks to cover benefit premiums is listed separately on the paycheck, and is equal to an additional 40% of the regular monthly deduction for medical, dental, dependent life and supplemental life.
Changes to Your Beneficiaries
To change your beneficiary designation for Basic Life and AD&D, complete the Board of Regents CIGNA Beneficiary Designation Form and fax to the Benefits Team at 404-894-6978.
To change your beneficiary designation for GT Unum Supplemental Life and AD&D, complete the GT Unum Beneficiary Designation Form and fax to the Benefits Team at 404-894-6978.
Changes to Your Elections
If you do not elect life insurance coverage within your first 30 days of hire, any future elections will occur during the annual open enrollment period, and all amounts will require the submission of an Evidence of Insurability Form. If you do not elect life insurance coverage within your first 30 days of hire, any future elections will occur during the annual open enrollment period or when you experience a Family Status Change, and all amounts will require the submission of an Evidence of Insurability Form. If you wish to cancel your life insurance election at any time throughout the year, please refer to the Forms section to complete the change form for your specific life insurance plan.
Additional Plan Information
If you elect Supplemental Life insurance within the first 30 days from your date of hire, you will not be required to submit a Evidence of Insurability form. If you elect Supplemental Life insurance during the annual open enrollment, as a result of a qualifying family change, you will be required to submit a Evidence of Insurability form for each covered person and the form must be reviewed and approved by the provider before the coverage is in effect. You can obtain the Evidence of Insurability form in the Forms section of this site.
Additional detailed plan information is available through the following links:
Board of Regents CIGNA Life Insurance Plan Information
Unum Supplemental Life and AD&D Plan Information - Newly Insured as of 1/1/2010
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