Basic Life Insurance
Life insurance, provided by The Hartford, pays a lump-sum to your beneficiary(ies) to help meet expenses in the event of your death. Basic life includes an additional multiple of your salary for accidental death. Basic life insurance is mandatory and cannot be declined. Benefits will be reduced to 50 percent at age 75.
Cost to You
Staff Basic Life Insurance
1X base salary up to a maximum of $400,000. Changes in FTE or salary will change your coverage and deductions.
Paid by Cone Health or the physician practice.
Department Head and Physician Basic Life Insurance
2X base salary up to a maximum of $400,000. Changes in FTE or salary will change your coverage and deductions
Paid by Cone Health or the physician practice (unless you are a P & L physician and pay full cost).
Supplemental Life Insurance
Supplemental life insurance is additional life insurance that can be purchased by you for 1, 2 or 3 times your annual salary ($600,000 maximum applies). Supplemental life insurance is available for staff, department directors and physicians. The Hartford is allowing anyone with coverage already or those who previously had not elected coverage to get up to $200,000 in supplemental life insurance without Evidence of Insurability (EOI). All other situations will be required to submit an Evidence of Insurability (medical questionnaire) and your coverage will be approved or denied. The Hartford will send you the Evidence of Insurability form to complete and return to them. You will be notified of their decision in writing at your home address. Rates remain the same in 2021.
NOTE: If you were previously denied or failed to complete the previously requested EOI form from 10/1/2018 to present, you will be required to complete EOI on Supplemental Life Insurance on ANY election or increase for the 2021 Plan year.
Supplemental Accidental Death and Dismemberment
Employee coverage levels are listed below at $25,000; $50,000; $100,000 and $200,000. If you enroll in family coverage, the spouse is covered at 50 percent of the employee coverage and children are covered at 15 percent of the employee coverage, capped at $25,000. Rates on Supplemental Accidental Death and Dismemberment and life insurance for spouse and child(ren) remain the same in 2021.
Employee Only Coverage
Dependent Life for Spouse
Spouses are covered by amounts between $5K and $25K. If you do not currently have coverage and add coverage or increase the coverage by greater than one level, you will be required to submit an Evidence of Insurability for your spouse and coverage will be approved or denied. The Hartford will send you the form to complete and return to them. The Hartford will notify you of their decision in writing. If you are already enrolled in dependent life for your spouse and increase by only one level, Evidence of Insurability is not required. No increase in premiums.
Per pay period
Dependent Life for Child(ren)
Child(ren) can be covered up to age 26. No Evidence of Insurability needed if added or increased during annual enrollment. Coverage is provided by The Hartford. No increase in premiums.
Per pay period