Life
LifePasco-Hernando State College offers employer-paid life insurance to benefit-eligible employees in addition to supplemental insurance for employees and their eligible dependents.
Group Term Life Insurance
Group Term Life InsuranceLiberty National
Who Pays?
You
When You Are Eligible
The first day of the month after six months of employment.
What You Receive
The College offers PHSC employees the opportunity to purchase from Liberty National, a Group Term Life Insurance, which is in addition to the College’s term life insurance policy paid by the College for its employees. This term life insurance is portable with no increase in premium or decrease in value by paying Liberty National directly. Accidental death coverage is available. This term life insurance coverage is available for dependents.
Life Insurance and AD&D
Life Insurance and AD&DThe Standard
Who Pays?
PHSC
When You Are Eligible
The first day of the following month after date of employment.
What You Receive
The College will provide a Term Life Insurance policy equal to the employee's annual salary rounded to the next thousand (not to exceed $125,000) with an Accidental Death and Dismemberment (AD&D) rider. Term life insurance coverage is not available for dependents.
Supplemental Life and AD&D
Supplemental Life and AD&DThe Standard
Who Pays?
You
When You Are Eligible
The first day of the following month after date of employment.
What You Receive
Employees have the option of purchasing, at their expense, Supplemental Life Insurance and AD&D in increments of one, two, or three times their annual salary not to exceed $500,000. The monthly premium for this coverage is 27.7 cents per thousand. An evidence of insurability (EOI) is required for a benefit amount of $200,000 or higher. An EOI is also required with the purchase or increase of benefit after the initial employment enrollment period. The Standard Insurance Company reserves the right to refuse coverage at that time.
Universal Life Insurance
Universal Life InsuranceAllstate
Who Pays?
You
When You Are Eligible
The first day of the following month after date of employment.
What You Receive
Insures employee, spouse, and/or children. The policy builds cash value. Premiums begin for as little as $6.50 per paycheck. This premium cannot be pre-taxed.