The following is a note from NU Central Administration about increases in term life insurance.
Because of favorable experience in the group term life insurance program, Assurity Life Insurance will increase by 40 percent the amount of coverage in excess of $20,000 that you possessed on December 31, 2006. If you were enrolled in NUFlex Options 3 through 13 (coverage amounts $35,000 to $500,000) on December 31, 2006, you will receive the increased benefit. You do not have to be currently enrolled in Options 3 through 13 to be eligible for this benefit.
$ 50,000Total Coverage
– 20,000Basic Coverage
———–
30,000Optional Coverage
x .40
———–
$ 12,000Additional Death Benefit
If you should die while this coverage is in force, your beneficiary would receive $12,000 in addition to the amount of coverage you elected for 2007. This additional coverage is in effect from March 1, 2007 through February 29, 2008. Of course, the amount of additional coverage for each person varies with the amount of insurance in force on December 31, 2006.
Please call the UNMC Campus Benefits Office at 559-4340 if you have any questions.