Life and Disability Insurance

Long Term Disability Insurance

Long term disability insurance (LTD) provides income protection when illness prevents you from working more than six months. You are eligible after being employed by the University for one year, or upon hire if you worked at another employer where the policy provided income benefits for at least 5 years.

You will receive 60% of your current monthly base pay up to a maximum of $15,000 per month, and any benefits received from the program are taxable.

You will continue to receive the benefit for as long as you qualify as “disabled” under the policy, up to the age limits as defined by the Certificate of Insurance.

The University provides this benefit at no cost to you.

For more information please visit the Standard Life Insurance website or call them at 1-888-937-4783.

Basic Life Insurance

Basic life insurance provides a benefit to your beneficiary(ies) in the event of your death while still employed at Suffolk University which is equal to your annual salary up to a maximum of $100,000.

The University provides this benefit at no cost to you, but you are taxed on the life insurance coverage that is greater than $50,000. The taxable income appears on your pay slip as GTL, and allows your beneficiary(ies) to receive a tax-free benefit.

Your life insurance benefits will be reduced starting at age 65, and by age 70 your basic life insurance will be equal to 50% of your salary up to a maximum of $100,000.

Accidental death & dismemberment insurance (AD&D)

Accidental death & dismemberment insurance (AD&D) provides an additional benefit to your beneficiary(ies) in the event of your accidental death or loss of a limb while employed at Suffolk University which is equal to your annual salary up to a maximum of $100,000. The University provides this benefit at no cost to you.

You may purchase Supplemental life insurance for yourself at preferred rates through the convenience of payroll deduction. You may elect coverage between 1x and 5x your annual salary up to a maximum of $750,000.

If you enroll within 30 days of your hire date, you will be insured up to the guaranteed issue amount of $375,000. Amounts of coverage from $375,000 to $750,000 will require Evidence of insurability (EOI).

You may add or change your election at any time during the year. You may elect coverage between 1x and 5x your annual salary, up to $750,000. However, evidence of insurability (EOI) is required for coverage over $375,000, or if you wish to increase coverage by more than 1x your salary. You may reduce your coverage at any time during the year.

Please be sure to update your life insurance beneficiary(ies) in Workday.

For more information please visit the Standard Life Insurance website or call them at 1-888-937-4783.