Financial protection for your survivors in the event of your death is important for your family’s welfare. The University of Alaska provides the opportunity for income protection through the following benefit plans—basic and supplemental life insurance and accidental death and dismemberment protection.
You may only add or increase life insurance coverage as a new employee, during open enrollment or after a major life event. You may drop or reduce coverage at any time. Check current life insurance rates. A summary of the different types of insurance follows.
Basic Life Insurance
BASIC: Benefits-eligible regular and term employees are provided with $50,000 in basic life coverage at no cost.
Supplemental Life Insurance
Supplemental life insurance is available in amounts from $25,000 to $400,000. Participation is optional and the employee pays the premium.