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The
State of Illinois provides each employee, at no cost, one unit of term
insurance, a unit equaling the employee's base annual salary. The employee
may elect additional coverage of up to 8 units of term life and accidental
death and dismemberment insurance. State term life insurance includes a
provision allowing payment of up to half the policy's face value to a
terminally ill employee whose life expectancy is 6 months or less. Spouse
coverage of up to $10,000 and dependent child coverage of $10,000 is also
available. The optional employee life insurance is portable upon
termination of employment.
University employees may
also purchase university-sponsored term life insurance in units of $5,000,
up to five times the employee's annual salary or $200,000, whichever is
less. Also available is spouse coverage up to $200,000 (but not to exceed
the amount purchased for the employee), child coverage up to $10,000, and
individual or full family accidental death and dismemberment insurance. |
