|Visit the Open Enrollment website to learn more about benefit changes for 2020.
Syracuse University offers several life insurance plan options to protect both you and your family members. Some coverage is paid for by the University, while other options may be purchased voluntarily. All coverage is insured through MetLife.
On this page:
- Syracuse University-Sponsored Basic Life Insurance for Employees
- Supplemental Life Insurance for Employees
- Free Will Preparation Benefit
- Your Cost for Supplemental Life Insurance
- Helpful Links
Syracuse University-Sponsored Basic Life Insurance for Employees
All benefits-eligible employees receive Syracuse University-sponsored Basic Life insurance coverage in the amount of $10,000 for staff and $50,000 for faculty. At age 65, the basic coverage drops to $6,500 for staff and $32,500 for faculty. There is no cost to you for this coverage. Remember to name your beneficiary(ies) [PDF] by returning this completed form to HR Shared Services to direct the benefit payment according to your wishes.
Supplemental Life Insurance for Employees
You can purchase additional amounts of life insurance. Your premiums will be deducted from your pay on an after-tax basis.
You can choose an amount of coverage between 1 – 10 times your salary. The maximum coverage will default to $250,000, unless you specifically choose the higher option of a $2 million cap (available only if the multiple of salary you choose exceeds $250,000). To get the higher cap, you must be approved by MetLife by submitting a Statement of Health form mailed directly to MetLife. Coverage exceeding $250,000 will not go into effect until MetLife notifies Human Resources of its approval.
Your premiums for supplemental life insurance are based on your age, and will be automatically adjusted as necessary during the calendar year to reflect changes in your salary and age.
How much life insurance do you need? Think about current and future income needs for your family.
Free Will Preparation Benefit
MetLife offers Supplemental Life enrollees free will preparation/updating services through Hyatt Legal Services, a MetLife company, or a subsidy if you choose an outside attorney. For details, call Hyatt Legal Plans at 800.821.6400. The Syracuse University group number is 104161. Or, download the following information sheets:
Your Cost for Supplemental Life Insurance
Rates listed here are based on the 12-month calendar year. Actual deductions from each paycheck will vary depending upon your deduction cycle. Follow the examples to estimate your cost. Your actual cost will display when you enroll in MySlice.
Calculating Your Cost for Employee Supplemental Life Insurance
- Find your rate based on your age in the chart below (for example, the rate for a 40-year-old is $0.077).
- Multiply your annual salary by the level you want to get the total coverage amount (for example, 3 x $50,000 = $150,000). If this is not an even number, round up to the next highest thousand (for example, $147,672 becomes $148,000).
- Divide the coverage amount by 1,000 (for example, $150,000 divided by 1,000 = $150)
- Multiply by the rate from the chart ($150 x $0.077 = $11.55). This is the monthly amount.
- To determine the amount that will be deducted from each paycheck, multiply by 12 and divide by the number of checks you receive in a year:
- Paid weekly over the fiscal year: 52 pays
- Paid weekly over the academic year: 37 pays
- Paid semi-monthly over the fiscal year: 24 pays
- Paid semi-monthly over the academic year: 18 pays
Monthly Cost per Thousand
|Under age 25||$0.032|
|25 through 29||$0.038|
|30 through 34||$0.051|
|35 through 39||$0.058|
|40 through 44||$0.077|
|45 through 49||$0.109|
|50 through 54||$0.173|
|55 through 59||$0.306|
|60 through 64||$0.466|
|65 through 69||$0.810|
|Age 70 and up||$1.441|
- Accidental Death & Dismemberment Coverage
- Statement of Health [PDF] (for Employee, Spouse and Same-Sex Domestic Partner)
- Beneficiary Designation Form [PDF]
Every effort has been made to ensure that the information contained within this website is accurate. However, benefits are governed by legal documents (which, in certain circumstances, may include insurance contracts). If there is any difference between the information in this website and the official documents, the official documents will control. As is the case with all of Syracuse University’s employee benefit plans, the University reserves the right to modify or terminate these benefits at any time.