III. 305 - Life Insurance

Drury University provides a basic life insurance plan for regular, full-time staff members and their eligible dependents.

Life insurance coverage equal to one year's salary, rounded to the next highest multiple of $1,000, is provided to staff members. This life insurance will become effective upon the first day of the month following their date of hire. The insurance premiums will be paid by Drury University. All full-time staff members will be provided with life insurance coverage for applicable dependents equal to $2,000 for spouse and $1,000 per dependent child (as specified, and in accordance with, the rule established in the policy).

Group life insurance coverage will cease the last day of the month during which termination occurs. The coverage is subject to modification or cancellation by the university at any time in its discretion.

Details of the life insurance benefit plan, including benefit amounts, limitations, and restrictions are described in the Summary Plan Description provided to all eligible staff members. View a copy of the life insurance summary plan description. Contact the Human Resources Department for more information about life insurance benefits.

Excess Life Insurance

Staff members receiving life insurance coverage equal to $50,000 or greater are required to pay tax on the benefit.