Life Insurance 2020

Life Insurance is provided by Unum.

Faculty and staff will be covered for $50,000 in University-paid life insurance. For members of the Teamsters’ Local 8 bargaining unit the University-paid life insurance benefit is $20,000. Members of the Penn State University Police Officers Association (PSUPOA) are covered by a University-paid group-term life insurance policy at $125,000.

If you are already enrolled in the voluntary age-graded life insurance plan, you have the ability to increase your coverage amount by 1 X your salary during Benefits Open Enrollment, up to a maximum of $1.5 million or 8 X your salary, whichever is less.

Dependent child coverage is available of either $5,000 or $10,000.

Premiums

Contributions are calculated at per $1,000 of coverage.

2020 Employee Rates
Age Range BiWeekly Monthly
Contributions (per $1,000 of coverage)
Less than 25 $.0083 $.018
25-29 $.0102 $.022
30-34 $.0134 $.029
35-39 $.0152 $.033
40-44 $.0185 $.040
45-49 $.0268 $.058
50-54 $.0438 $.095
55-59 $.0725 $.157
60-64 $.1108 $.240
65-69 $.2137 $.463
70 and above $.3462 $.750
Spouse Rates
Age Range BiWeekly Monthly
Contributions (per $1,000 of coverage)
Less than 25 $.009 $.02
25-29 $.011 $.024
30-34 $.015 $.032
35-39 $.0165 $.036
40-44 $.0205 $.044
45-49 $.0295 $.064
50-54 $.048 $.104
55-59 $.0795 $.172
60-64 $.122 $.264
65-69 $.2345 $.508
70 and above $.3805 $.824