Life Insurance

Lesley provides all benefits-eligible employees a group-sponsored life insurance program through Aetna Life Insurance. Life insurance eligibility begins the first day of the month following the date you became actively employed, after you complete the required enrollment forms. Currently, Lesley offers basic life insurance to employees on a group basis for one times base salary rounded to the highest thousandth. (For example, if your annual salary is $30,500 your life insurance benefit would be $31,000.) The maximum benefit permitted under the plan is $250,000. Additionally, the amount of life insurance reduces after you reach age 65.

Cost

Lesley University pays for cost of the premium up to 1X base salary.  If your salary is $50,000 or greater, the value of the group life insurance that exceeds $50,000 is taxable under federal law. This value is called imputed income and is added to your paycheck and taxed accordingly.

If you die while insured, those designated on your beneficiary form will receive the life insurance benefit after a proof of claim has been submitted to Aetna by Human Resources. It is important to update beneficiary information with Human Resources if there are any changes in family status while employed (e.g., marriage, divorce, death, birth, adoption, etc.).

Employee Eligibility

All benefits-eligible employees of Lesley University can participate in the life insurance program. Employees are considered eligible if they are regularly scheduled to work at least seventeen and one-half hours (17.5) per week. Additionally, a temporary employee who works at least seventeen and one-half hours (17.5) per week and is scheduled to work nine months or longer is considered an eligible employee. Life insurance is not offered to dependents of employees and/or spouses. Work study students and adjunct faculty are not eligible for benefits.

Eligible employees may participate in these plans the first day of the month following the date of hire, providing the appropriate enrollment form(s) have been completed. Coverage ends on the last day of employment.

Change Beneficiary

To change your life insurance beneficiary information, please print out the Designation of Beneficiary form and submit to human resources. This change may be made at any time.