Life Insurance

SU 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:

SU-Sponsored Basic Life Insurance for Employees

All benefits-eligible employees receive SU-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 by returning this completed form to the HR Service Center 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.

Dependent Life Insurance for Spouses/Same-Sex Domestic Partners

You can purchase life insurance coverage for your spouse or same-sex domestic partner.  The amount of coverage for a spouse or partner cannot exceed the amount of your own Basic and Supplemental Life coverage combined. Premiums are paid through after-tax payroll deduction.

  • Choose coverage for your spouse/same-sex domestic partner at the $10,000 or$20,000 level without providing a MetLife Statement of Health form.
  • Coverage levels of $40,000, $60,000, $80,000 and $100,000 require approval from MetLife.  Send a completed MetLife Statement of Health form directly to MetLife. The coverage will not go into effect until MetLife notifies Human Resources of its approval.
  • Your premium costs are based on your spouse/partner’s age and will be automatically adjusted as necessary during the calendar year to reflect changes as needed.

Dependent Life Insurance for Children

You can purchase life insurance coverage for your eligible dependent child(ren) in the amount of $10,000. Premiums are paid through after-tax payroll deduction.

  • Available for unmarried children under the age of 26, provided they are dependent upon you for support and maintenance.
  • Disabled children over age 26 may be eligible for continued coverage, if they were disabled prior to their 26th birthday and were previously enrolled in coverage. Approval by MetLife is required. Contact the HR Service Center to request the form, which must be completed by you and your child’s physician.
  • If both parents are SU employees, both may purchase coverage on the same child and each would receive a benefit payment.
  • Eligible dependents cannot also be eligible for coverage as a University employee.
  • Coverage on a child cannot exceed the amount of the employee’s combined Basic and Supplemental Life coverage.
  • A MetLife Statement of Health is not required to purchase this coverage.

Your Cost

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 $0.09).
  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 $0.09 = $13.50).  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

Employee Supplemental Life Insurance Monthly Rates

Employee Age2017 Rates
Monthly Cost per Thousand
Under age 25$0.038
25 through 29$0.045
30 through 34$0.060
35 through 39$0.068
40 through 44$0.090
45 through 49$0.128
50 through 54$0.203
55 through 59$0.360
60 through 64$0.548
65 through 69$0.953
Age 70 and up$1.695

Calculating Your Cost for Spouse/Same-Sex Domestic Partner Life Insurance

  1. Find their rate based on their age in the chart below (for example, the rate for a 48-year-old is $0.15).
  2. Divide the desired coverage level by 1,000 (for example, $80,000 divided by 1,000 = $80)
  3. Multiply by the rate ($80 x $0.15 = $12).  This is the monthly amount.
  4. 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

Spouse/Same Sex Domestic Partner Life Insurance Monthly Rates

Spouse/Partner Age2017 Rates
Monthly Cost per Thousand
Under age 25$0.05
25 through 29$0.06
30 through 34$0.08
35 through 39$0.09
40 through 44$0.12
45 through 49$0.15
50 through 54$0.23
55 through 59$0.43
60 through 64$0.66
65 through 69$1.27
Age 70 and up$2.26

Your Cost for Child(ren) Life Insurance

The table below shows the cost per paycheck based on each pay schedule.  The cost is the same regardless of how many children you cover.

Dependent Child(ren) Life Insurance Cost

Coverage Amount
$10,000 per child
2017
Premium Cost per Paycheck
Paid Weekly, Fiscal Year$0.15
Paid Weekly, Academic Year$0.20
Paid Semi-Monthly, Fiscal Year$0.32
Paid Semi-Monthly, Academic Year$0.42

Helpful Links

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Every effort has been made to ensure that the information contained within this website is accurate. However, the 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.