Basic and Supplemental (Voluntary) Life Insurance
The Cigna Life Insurance Company of New York is the administrator for Pace University’s life insurance plans.
The University provides basic life and accidental death and dismemberment (AD&D) insurance coverage equal to one times your base salary (up to $100,000) at no cost to you. In addition, you may purchase supplemental life insurance coverage at increments of one, two, or three times your base annual salary. The combined life insurance maximum for basic and supplemental life insurance coverage is $750,000.
For active full-time employees, supplemental life insurance benefits reduce to 67% at age 70 and 50% at age 75.
Current Premium Rates for supplemental (voluntary) life coverage.
If you wish to enroll in supplemental and/or dependent life, please complete the Life Insurance Enrollment Form (PDF) and fax to the University Benefits office at (914) 989-8506. No action is required for current enrollees unless you wish to change your election.
Evidence of Insurability (see Page 2 of the Life Insurance Enrollment Form) is required when requesting an increase in your supplemental life insurance by more than one time above the current level or over the guaranteed issue amount ($400,000). Please fax the completed form to the University Benefits office at (914) 989-8506 (or email to email@example.com) by November 30, 2020. In this case, Cigna will advise the University Benefits office as to the approval status and the coverage effective date, if applicable.
Please Note: For those on an approved continuous leave (short-term disability, Workers’ Compensation, Family and Medical Leave, NY Paid Family Leave, or unpaid personal leave), if you enroll in or increase supplemental life insurance coverage during the Open Enrollment period and have not returned to work on or before January 1, 2021, your coverage will take effect on the first of the month following your return to work.
Although it is not necessary to complete a new Beneficiary Designation form (PDF) every year, you may update your beneficiary designation at any time during the plan year. If you check the box at the top of the form and complete the Basic Term Life section at the top of the grid on Page 1, the beneficiaries that you designate in that section will pertain to basic and voluntary life and AD&D benefits. Be sure to sign (Owner Signature) and date Page 2. Please fax the completed Beneficiary Designation form to the University Benefits office at (914) 989-8506 (or email to firstname.lastname@example.org).
Dependent Life Insurance
You also have the opportunity to purchase supplemental life insurance to cover a spouse/registered domestic partner and/or eligible dependent children:
- Spouse/Domestic Partner - $10,000 benefit (reduces to 67% at age 70 and 50% at age 75)
- Dependent Children age 14 days to 19 years (23 if full-time student) - $5,000 benefit
The monthly cost for this coverage is $3.26/family unit or $1.63 per paycheck. The rate is the same if you are only covering a spouse/domestic partner or a spouse/domestic partner plus eligible dependent children.
CIGNA Secure Travel
Cigna Secure Travel is a comprehensive program of information, referral, assistance, transportation and evacuation services designed to help you respond to medical care situations and many other emergencies that may arise during travel (when more than 100 miles from home). Cigna Secure Travel also offers pre-travel assistance, which provides access to information on things like passport and visa requirements, foreign currency, and worldwide weather. Cigna Secure Travel also provides real-time security intelligence and security evacuation services in the event of a threatening situation.
This services is provided free of charge and is a component of your basic life insurance coverage. The service is available 24 hours per day, 365 days per year.