Life and AD&D Insurance

Eligible faculty and staff members receive Basic Life and AD&D coverage through New York Life (NYL); USF pays the full premium for both Basic Life and Basic AD&D insurance.

USF offers Basic Life insurance in the amount of one times your base annual salary rounded to the nearest $1,000, with the maximum benefit capped at $500,000. The Basic AD&D benefit has the same coverage level.

You will be required to submit an Evidence of Insurability (EOI) to NYL if you elect Voluntary Term Life coverage over the guaranteed issue amount of $400,000. It will also be required if you enroll after your initial eligibility period. Please see the Evidence of Insurability (EOI) information section below for more information.

Life insurance coverage for faculty and staff age 70 and older will be reduced to 65% of the face value. If enrolling in Voluntary AD&D – Family or Voluntary Dependent Term Life, your spouse/RDP will not be covered after age 70, and your unmarried children will not be covered after age 26.

IMPORTANT: You must designate a Beneficiary(s) on each life/AD&D insurance plan in which you are enrolled.

Life insurance Beneficiaries can be added, removed or changed at any time. You do not need to wait until Open Enrollment. A Beneficiary is the individual who will receive your life insurance benefits should something happen to you. Please review the Managing Life Insurance Beneficiaries job aid or watch the webinar to learn more. Not adding a beneficiary(s) will hinder processing a claim with NYL.

You may also elect Voluntary Term Life insurance and/or Voluntary Accidental Death and Dismemberment (AD&D) insurance, which are employee-paid plans, to supplement your USF-provided Basic Life & Basic AD&D insurance.

The cost per $1,000 of coverage of Voluntary Term Life insurance depends on your age. The cost per $1,000 of coverage of Voluntary AD&D insurance (Employee Only or Employee Plus Family coverage) is fixed. Please refer to the Cost of Coverage Tables section below for more information.

Voluntary Term Life insurance is offered in increments of $10,000, up to the benefit maximum of $500,000. The maximum you can elect depends on your base annual salary. Please refer to the Evidence of Insurability (EOI) information section below for more information.

Voluntary AD&D insurance is offered in increments of $25,000, up to a maximum of $250,000.

For Voluntary AD&D, you can elect coverage for yourself only or for yourself and for your family. EOI is not required. Please refer to the Cost of Coverage Tables section below for more information.

You may elect to enroll in one or more of these voluntary plans when you initially become eligible – this is typically upon hire, and you would elect one or more of these plans on your New Hire Benefit Elections task*. Or, you can choose to enroll during Open Enrollment on your Open Enrollment task. Both of these tasks are submitted in USFWorks.

*You have 30 calendar days from your start date to submit your New Hire Benefit Elections task.

An EOI may be required if you enroll in Voluntary Term Life.

When you are first eligible

This is typically upon hire or if you move from a non-benefit-eligible position to a full-time benefit-eligible position.

You may only elect up to 3x your base annual salary.

If your election is less than 3x your base annual salary, then EOI is not required. Please note: any amount requested that is greater than the guaranteed issue amount of $400,000 requires an EOI, regardless of whether it is less than 3x your base annual salary or not.

During Open Enrollment

You may only elect up to 3x your base annual salary.

If enrolling for the first time, or if increasing your coverage by more than $50,000 (i.e., 5x the benefit level of $10,000), or if you are requesting a coverage amount greater than $400,000, then EOI is required.

If your coverage amount is currently at $400,000, any amount you elect over $400,000 is subject to EOI.

You can also elect Voluntary Dependent Term Life for you, your spouse/RDP (under age 70) and unmarried child(ren) covered to age 26. EOI is not required.

Coverage for your Spouse/RDP:

• $5,000

Coverage for your eligible children:

• $2,000 for child(ren) 6 months old or over
• $500 for child(ren) less than 6 months old

Flat monthly cost of $1.40.

You may elect to enroll in this plan when you initially become eligible – this is typically upon hire, and you would elect one or more of these plans on your New Hire Benefit Elections task*. Or, you can choose to enroll during Open Enrollment on your Open Enrollment task. Both of these tasks are submitted in USFWorks.

If any of your eligible dependents become ineligible, you must inform the Benefits Team in writing at benefits@usfca.edu.

*You have 30 calendar days from your start date to submit your new hire benefit elections task.

If you enroll in Voluntary Term Life or Voluntary AD&D insurance, deductions will begin on the first paycheck following the Coverage Begin Date. Your coverage will not begin until New York life has approved it, if applicable. If approval is required, you will need to submit an Evidence of Insurability (EOI) form to New York Life.

For example, if your Coverage Begin date is 2/1/2024, for semi-monthly payroll, your Deduction Begin date would be 2/22/2024* and for monthly payroll, it would be on the pay date for that month*.

*If approved by NYL and processing time permits, otherwise deductions would begin on the following paycheck and be backdated.

Please visit the New York Life microsite

 for information including:

• NYL benefits summary
• Coverage levels
• EOI process details
• Claim forms
• Valuable programs, such as financial, legal and estate support, secure travel and survivor assistance 

You may also visit the Benefits Compliance Documents web page for life insurance plan certificates and summaries.

Review the Managing Beneficiaries Job Aid

Watch the Adding and Managing your Beneficiaries webinar

New hires / Employees who become benefit eligible

During open enrollment

Voluntary Term Life coverage will be reduced to 65% for faculty and staff reaching age 70. Your spouse/RDP will not be covered after age 70.

Monthly cost (per $1,000 of coverage)

Based on your age as of January 1

Supplements your basic AD&D coverage in the event of your death due to accident or covered disabling injury. This coverage can help replace lost income and lessen the impact of costs associated with serious injury.

If electing Employee Plus Family coverage, please note:

Coverage for your Spouse/RDP:

• 50% of your elected coverage amount up to $125,000

Coverage for your Unmarried Child(ren) up to age 26:

• 15% of your elected coverage amount up to $37,500

Voluntary AD&D coverage will be reduced to 65% for faculty and staff reaching age 70. Your spouse/RDP will not be covered after age 70.

Life insurance for your dependents:

• Spouse/RDP under age 70
• Unmarried child(ren) covered to age 26