Life Insurance

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

Through the Life Insurance Plan, the College provides an important benefit to employees on the first of the month following one month of employment. If you are interested in this benefit you simply need to complete a beneficiary form and hand it in to the Human Resources department. 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. 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, when you are first eligible for this benefit. The guarantee issue amount is $200,000 for employees and $50,000 for a spouse. You may also elect some voluntary life insurance for your children. See the Voluntary Life Booklet of Insurance below for more detailed information.

Insurance Booklets