Life Insurance

Life Insurance & Accidental Death and Dismemberment (AD&D) Plan

Through the Life Insurance Plan, the College provides an important benefit to full time employees on the first day of employment. You simply need to provide beneficiary information in HR Self-Service. After doing so, you will be automatically covered, free of charge*, for the remaining duration of your employment.


Life insurance is equal to one and one-half your base annual earnings. Benefit is reduced to 67 percent at age sixty-seven (67) and further reduced as listed below. 

Attained Age

Amount of Life Insurance

Less than 67

1.5 x Salary

67 through 69

1.5 x Salary x 67%

70 through 74

1.5 x Salary x 45%

75 through 79

1.5 x Salary x 30%

80 or older

1.5 x Salary x 20%

In no event will the amount of Life Insurance exceed $500,000.

An Accidental Death and Dismemberment (AD&D) benefit is also payable to your beneficiary if your death is caused by an accident or to you if you suffer loss of limb or eyesight due to an accidental bodily injury.

Voluntary Life Insurance

You have the opportunity to purchase additional life insurance benefits, beyond what Holy Cross provides you. For newly hired employees, coverage will begin on the first of the month following one month of employment. Having adequate life insurance can help your family manage expenses and make a difficult transition less painful. Life insurance provides the people you love with financial support when you can’t be there, and when they need it most.

You may elect additional voluntary life insurance in $5,000 increments up to a maximum of $500,000 (not to exceed 5 times your basic earnings) for you and $250,000 for your spouse. The guarantee issue amount is $200,000 for employees and $50,000 for a spouse, when you are first eligible for this benefit. If you add this benefit at a later time than when you are first eligible or wish to increase your coverage, you will need to complete the Evidence of Insurability (EOI) form and submit it to the insurance company. Your amount of Voluntary Employee and/or Spouse Life Insurance reduces to 67% when you/your spouse reach age 67, to 45% when you/your spouse reach age 70, to 30% at age 75, and to 20% when you/your spouse reach age 80. All age-reduced amounts are rounded to the next higher $1,000, if not already a multiple of $1,000.

You may also elect voluntary life insurance for your child(ren) in the amount of $5,000 or $10,000.

See the Voluntary Life Booklet of Insurance below for more detailed information. The Voluntary Life Monthly Rate Sheet below provides the monthly premium amounts. These rates are in 5-year age brackets. 

*Please note, coverage amounts above $50,000 for Basic Life and AD&D is subject to imputed income, which will be calculated and reported each pay period. 

Insurance Booklets