2026 Life Insurance
Life Insurance is provided by Unum.
The University-paid life insurance options are listed below based on employee type:
- Faculty & Staff - $50,000
- Technical Service - $25,000
- University Police – Based on PSUPOA Agreement
- Options elected as a new hire or for January 1, 2025, remain your elected amount for life PSUPOA Agreement
- $50,000; employer paid, no imputed income tax owed on this amount
- $200,000; employer paid, but there will be imputed income tax owed on the amount over $50,000
If you are already enrolled in the optional employee age-graded life insurance plan, you can increase your coverage amount by 1 time your salary during open enrollment, up to a maximum of $1.5 million or 8 times your salary, whichever is less. If you did not enroll as a new hire, you may elect during open enrollment and will be required to complete evidence of insurability (EOI; also known as proof of good health).
Optional spousal age-graded life insurance is also offered in increments of $10,000 up to a maximum of $250,000, provided you are enrolled in the optional employee age-graded life insurance. The spousal life elections cannot be elected in an amount greater than the employee’s optional life election. If you did not enroll in optional age-graded spousal life as a new hire, you may elect during open enrollment and will be required to complete evidence of insurability (EOI; also known as proof of good health).
Optional dependent child life insurance coverage is available in the below increments, provided you are enrolled in the optional employee age-graded life insurance. Enrollment will cover any number of children through the month they turn 26. You are responsible for removing optional dependent child life insurance once all children have reached age 26, as enrollment does not require dependents to be listed and Benefits nor Workday is able to determine that all dependents have reached ineligibility.
- $5,000
- $10,000
- $20,000
2026 Life Insurance Premium Contributions
Optional Employee Life and Spousal Life Rates
| Age Range | Employee Rates | Spouse Rates |
|---|---|---|
| Less than 25 | $0.025 | $0.025 |
| 25-29 | $0.029 | $0.029 |
| 30-34 | $0.039 | $0.039 |
| 35-39 | $0.045 | $0.045 |
| 40-44 | $0.054 | $0.054 |
| 45-49 | $0.079 | $0.079 |
| 50-54 | $0.129 | $0.129 |
| 55-59 | $0.213 | $0.213 |
| 60-64 | $0.326 | $0.326 |
| 65-69 | $0.629 | $0.629 |
| 70+ | $1.018 | $1.018 |
| Coverage Amount | Bi-Weekly | Monthly |
|---|---|---|
| $5,000 | $0.55 | $1.20 |
| $10,000 | $1.10 | $2.40 |
| $20,000 | $2.21 | $4.80 |
How To Calculate the Cost of Insurance Coverage
Annual Salary X Coverage Amt (1 times your salary up to a max of 8 times) = Insurance Coverage Amt
Insurance Coverage Amount /1000 (per $1000 of coverage) x rate = Monthly Premium Amount
Example: Annual Salary is $51,000
Coverage Amount – 5 times Salary
$51,000 x 5 = Insurance Coverage Amount of $255,000
Age = 44
$255,000/1000 (per $1,000 of coverage) x .040 (Employee Rates Chart for monthly) = $10.20