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Optional Life Insurance

Here’s an opportunity to get the life insurance protection you need at low group rates.  Bucknell University already provides staff members with a basic level of life insurance at no cost.  (1 x base salary, with a maximum of $50,000)  Through the University’s Optional Group Life Insurance agreement with AIG, you can increase your coverage.  All increases in optional life insurance (after initial enrollment at the time of hire) require a Medical Insurability form, available in the Human Resources office.

Optional Life insurance can be purchased in $25,000 increments, up to $500,000: 

What are your rates for Optional Life Insurance?  To find out, you will need to do a little multiplication and division.  Here’s an example:

Let’s say you’re 34 years old and choose $75,000 in coverage.  The rate for your age is .060 (for each $1,000 of insurance), from the chart above.  Simply multiply .060 by 75 ($75, 000 divided by 1,000 = 75).  You pay only $4.50 per month for $75,000 of Optional Life Insurance…  That’s less than $60 a year to protect your family from financial loss.

Medical Insurability form