Life Insurance

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.

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) by returning this completed form to HR Shared Services to direct the benefit payment according to your wishes.  You may also update beneficiaries during your new hire enrollment or Open Enrollment via MySlice.

Supplemental Life Insurance for Employees

You can purchase additional life insurance in increments of one to ten times your annual salary, not to exceed $2,000,000. A Statement of Health is required if you elect supplemental life coverage above $250,000 upon hire, or if you decide in the future to increase your supplemental life insurance coverage. For any increases after your new hire enrollment, the coverage will not go into effect until MetLife notifies Human Resources of its approval.  

Will Preparation and Estate Resolution Services

MetLife offers supplemental life enrollees free will preparation/updating services and estate resolution services through MetLife Legal Plans. For details, call MetLife Legal Plans at 800.821.6400. The Syracuse University group number is 104161. For more information, review the following:

• Will Preparation FAQ [PDF]
• Out of Network Will Preparation Fee Reimbursement Schedule [PDF] 

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

1. Find your rate based on your age in the chart below (for example, the rate for a 40-year-old is $0.065).
2. 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).
3. Divide the coverage amount by 1,000 (for example, $150,000 divided by 1,000 = $150)
4. Multiply by the rate from the chart ($150 x $0.065 = $9.75).  This is the monthly amount.
5. 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