What You Should Think About
Long Term Care
This benefit is also available to your spouse/domestic partner, parents and parents in law. They too can receive premium discounts as a result of your employment status at Pace University.
This benefit is portable if you should separate from the University. Once you have applied for this benefit and begin paying premiums, you can still ensure that your long term care needs are being met, even if you separate from the University.
Long term Care premiums are deductible on your federal income tax return. Since these premiums are currently paid after taxes, you may be eligible to deduct these premiums from your federal income taxes, as an itemized deduction. Please visit www.irs.gov to learn more information about this tax advantage.
Who are your designated beneficiaries on your life insurance? If you are unsure, you may want to review your beneficiary designations as well as consider other sources of income your beneficiary would have at the time of your death.
Evidence of good health is not required if you increase your supplemental life insurance by one level. Evidence of good health is only required if you increase your life insurance by more than one level (e.g., currently have 1X supplemental life and wish to increase it to 3X life). This is an advantage available to our full time employees for participating in a group life insurance program.