Life & Disability Insurance

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• Basic Life
  
• Supplemental Life
  
• Dependent Life
  
• Long-Term Disability
• Important Note about Leaves of Absence
  
• Summary Plan Descriptions (SPDs)
  

Basic Life Insurance

At no cost to you, NYU provides all eligible employees with basic life insurance coverage of $50,000, administered by The Prudential Insurance Company of America.

Supplemental Life Insurance

For new hires, the maximum amount of guaranteed issue insurance under this supplemental schedule is three times your annual base salary. Additional coverage of up to eight times your annual base salary, up to a maximum of $1,000,000, is available with evidence of insurability (EOI) satisfactory to Prudential.

During this year’s Annual Enrollment, new enrollees and current participants can elect coverage up to three times their base salary or up to $1 million, whichever is less, without submitting Evidence of Insurability (EOI). You can decrease your coverage at any time.

The monthly cost for supplemental insurance will be determined by the amount elected, by your attained age as of the January 1 coincident with or following your birthday, and in accordance with the following schedule. Rates are per $1,000 of insurance.

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Dependent Life Insurance for Your Spouse / Domestic Partner and Child(ren)

If you have elected supplemental life insurance, you may also elect dependent life insurance for your spouse / domestic partner and child(ren). New hires may elect spouse / domestic partner coverage in increments of $10,000 up to $250,000 (not to exceed 100% of your supplemental life insurance coverage) and coverage of $2,000 to $10,000 for your child(ren). Evidence of Insurability (EOI) is not required for coverage up to $20,000 for your spouse / domestic partner, and children never require EOI.

During the Annual Enrollment period, EOI is required for any new or increased elections.

Spouse / Domestic Partner

The monthly cost for supplemental insurance for spouse / domestic partner will be determined by the amount elected and by the employee's attained age as of the January 1 coincident with or following their birthday, and in accordance with the following schedule. Rates are per $1,000 of insurance.

Child(ren)

The monthly cost for supplemental insurance for child(ren) will be determined by the amount elected. Coverage is available for children from 14 days to 26 years of age. Rates are $0.090 per $1,000 of insurance and can be purchased in increments of $2,000. Evidence of Insurability (EOI) is not required.

Long-Term Disability Insurance

You are covered by the basic Long-Term Disability (LTD) plan on the first of the month coincident with or after your date of hire. You and the University share equally in the cost of LTD, which is based on your annual base salary.

Your monthly rate is $0.055 per $100 of covered monthly base salary, up to $10,000.

• If you are deemed totally disabled by NYU’s long-term disability insurance carrier, Lincoln Financial Group, you will receive 60% of your monthly base salary each month, up to a maximum of $6,000. This benefit is offset by Social Security and other disability benefits.
• If you earn over $120,000 per year, you may purchase Optional Long-Term Disability coverage on your base salary above $120,000 per year, to a maximum covered salary of $300,000 per year, which provides a benefit of 60% of your monthly base salary up to a maximum of $15,000. If you do not enroll when first eligible, you may enroll at a later date; however, you will be required to submit a medical questionnaire, and coverage is subject to approval by Lincoln Financial Group, the LTD insurance carrier.
  
  • You can submit evidence of insurability (EOI) online:
    1. Log in to MyLincolnPortal.com. First time user? Register using company code NEWYORKUNIV
    2. Click “Complete Evidence of Insurability”
    3. Answer the questions
    4. Electronically sign and submit
    5. Save your confirmation report