Life Insurance

When You Can Enroll
Enroll anytime, subject to insurance carrier approval. Evidence of insurability (proof that you’re healthy enough to qualify for certain types or amounts of insurance) for life insurance is as follows:

• For yourself:
  • If you enroll within 31 days of first becoming benefit eligible, evidence of insurability is required if you choose a coverage amount greater than 3 times your annual salary or $500,0000.
  • If you enroll later during benefits annual enrollment, evidence of insurability is required if you choose supplemental life insurance for the first time or for increases that are greater than 1 times your annual salary more than your current coverage amount.
  • If you enroll outside of benefits annual enrollment, evidence of insurability is required for any amount.
• For your spouse or partner:
  • If enrolled within 31 days of becoming benefits eligible, evidence of insurability is not required for any amount.
  • If enrolled later during or outside of benefits annual enrollment, evidence of insurability is required for any amount.
• For dependent children:
  • Evidence of insurability is not required.

What to Know

• This option is supplemental to the Caltech-provided life insurance coverage.
• Coverage options:
  • Supplemental employee life insurance with coverage equal to 1 to 5 times your annual salary, up to $1 million.
    • Cost: Calculated based on your age – see chart.
      • For example, if you’re 52 and choose $200,000 in supplemental life insurance, your monthly premium would be $26.80 [($200,000/$1,000) X $0.134 = $26.80). 
  • Supplemental spouse life insurance with coverage options ranging from $10,000 to $200,000.
    • Cost: Calculated based on your spouse’s age – see chart.
  • Supplemental child life insurance with coverage of $10,000 per eligible dependent.
    • Cost: $0.64 per month, regardless of how many children you have.
  • Basic and supplemental life insurance reduces as follows:
    • At age 65, the benefit is 65% of the original amount.
    • At age 70, the benefit is 40% of the original amount.