The Basics of Life Insurance
The University of ÐßÐßÊÓƵpartners with Securian to provide Life Insurance coverage to UA employees and their family members. Below is a high-level overview of the Life Insurance products available to employees. Not sure if Life Insurance is right for you? Review the to see what coverage you may need.
- Basic Life Insurance in the amount of $100,000
- Provided to all benefit-eligible employees at no cost to the employee (Imputed taxes are calculated on $50,000 of this benefit per IRS regulations.)
- Fixed amount - cannot request more or less than $100,000
- Make sure your beneficiary is up-to-date
- Supplemental Life Insurance
- Available for purchase should an employee wish to have more coverage than the provided $100,000 with Basic Life Insurance
- Premiums are taken post-tax (i.e. premiums will not lower your taxable income)
- Can purchase a policy for your spouse/Financially Interdependent Partner (FIP) and/or your child(ren)
- Can increase/decrease with a life event or during Open Enrollment each year
- Guaranteed issue is $200,000 for those under 65 at $100,000 for those over 65
- Make sure your beneficiary is up-to-date
- Accidental Death & Dismemberment (AD&D)
- Available for purchase should an employee wish to have this coverage
- Premiums are taken post-tax (i.e. premiums will not lower your taxable income)
- Can purchase a policy to cover yourself only (the employee) or yourself and your family
- Can enroll/stop coverage with a life event or during Open Enrollment each year
- Fixed amount of $300,000 distributed based on the make up of your family
- Make sure your beneficiary is up-to-date
Emailed via benefits newsletter on 6/3/2025.
Contact Benefits: (907) 450-8242 | ua-benefits@alaska.edu | schedule one-on-one time