Life Insurance and Accidental Death and Dismemberment
Amount of Benefit
- Life insurance coverage is calculated by taking the employees ‘base pay' x 103% x 2 and rounding to the nearest thousand. The maximum coverage amount is $75,000.
- Accidental Death & Dismemberment coverage amount is the same as the life insurance coverage amount for death or loss of both hands or both feet, any combination of foot, hand, or sight of one eye or sight of both eyes due to an accident. If the Employee loses one hand, one foot or sight of one eye due to an accident they will receive one-half of their benefit amount.
- Terminal Illness Benefit coverage amount is between 25% and 75% of your life insurance benefit. This benefit may be available to you if you become terminally ill and have a life expectancy of twelve months or less.
Filing a Claim
- Life and AD&D - Contact PEB with the name of the deceased employee/retiree. We will contact the listed beneficiaries and request a certified death certificate plus additional information from the beneficiaries.
- Terminal Illness – Contact PEB and request an Accelerated Benefits Claim Form. Complete the form and submit it to PEB with the proper documentation from your doctor.
Related Links
Related Articles
-
Changes
Information for faculty, staff, and employees of Ball State University about a change in: Name, Address, Beneficiaries or Family Status
-
Health Care Plans/Deductions
Health Care Plan deductions withdrawn from your paycheck
-
Health Insurance
Deductions (deductibles) and premiums comparison charts for Health Insurance plans, both traditional and PPO plans, with descriptions of each and contact information for questions and inquiries about the plans.