The University of Miami offers faculty and staff Group Life Insurance equaling two times the base salary rounded to the nearest $1,000 to a maximum of $100,000. You are covered immediately upon employment.
If you were employed prior to June 1, 2010 and your base salary exceeded $50,000 on May 31, 2010 (May 28, 2010 for bi-weekly staff), your maximum life insurance benefit is the amount of life insurance in effect at that time.
Please note: The Internal Revenue Service requires that the University tax the value of your University-paid life insurance over $50,000. The amount of life insurance over $50,000 is converted to a taxable amount using a table provided by the U.S. Treasury Department. Tax is calculated on that amount and deducted automatically from your paychecks.
The University of Miami offers faculty and staff Accidental Death Dismemberment coverage equaling one times the base salary rounded to the nearest $1,000 to a maximum of $100,000. You are covered immediately upon employment.
The University of Miami offers faculty and staff Voluntary Excess Life Insurance equaling one to six times the base salary rounded to the nearest $1,000 to a maximum of $1,000,000. Limited coverage is available for spouse and children.
Voluntary Excess Life Insurance Premium Rates
Voluntary Excess Life Insurance Enrollment Form
