Life Insurance (Basic, Voluntary, Child, Spouse)

Basic Life Insurance

Berklee provides all eligible faculty and staff members with basic life insurance and basic accidental death and dismemberment (AD&D) insurance.** Berklee pays the cost of this coverage. This is “term” insurance (no cash or loan value).

Full-Time Faculty,
Full-Time Staff*
Part-Time Faculty,
Part-Time Staff*
Maximum Benefit*
One (1) times your annual rate of pay* $25,000* $200,000*
*Benefits decrease by 35 percent at age 70
**May double the amount of insurance paid if death occurs in an accident.  Limits apply.

Basic Life Insurance and Imputed Income

If your basic life insurance coverage is greater than $50,000, Berklee is required to report additional income (imputed income) on your W-2 form.

This additional amount is based on the amount of your insurance coverage in excess of $50,000, your age, and calculations required by federal tax law. For more information, see IRS Publication 15-B.

Voluntary Employee Life Insurance

Eligible faculty and staff members who wish to supplement their Berklee-provided basic life insurance may purchase additional life insurance and AD&D coverage to supplement the coverage provided by Berklee.

Full-Time Faculty,
Full-Time Staff
Part-Time Faculty,
Part-Time Staff

One (1), two (2), or three (3) times your annual rate of pay

Maximum benefit: $250,000

Coverage is purchased in multiples of $10,000*:

$10,000
$20,000
$30,000
$40,000
$50,000

*Benefits decrease by 35 percent at age 70

Cost of Voluntary Life Insurance

(age dependent)

Your age Monthly Cost for Each $1,000 of Life Insurance Monthly Cost for Each $1,000 of Accidental Death and Dismemberment Insurance
Younger than 30 $.06 $.02
30-34 $.09 .02
40-44 $.11 $.02
45-49 $.14 $.02
50-54 $.34 $.02
55-59 $.60 $.02
60-64 $.82 $.02
65-69 $1.45 $.02
70+ $3.45 $.02

Example of $100,000 of supplemental coverage at age 46 (over 26 pay periods):

Cost of life insurance

= $100,000 = 100 units of $1,000 in coverage
= 100 units X $.21/month
= $21.00/month
= $21.00/month X 12 months / 26 pay periods
= $9.69/pay period

Spouse Life Insurance

If you purchase voluntary life insurance for yourself, you have the option of purchasing life insurance for your spouse. Spouse life insurance provides a benefit of $25,000 in the event of your spouse’s death.

The cost of spouse life insurance is based on your age using the life insurance cost table shown above.

Dependent-Child Life Insurance

If you purchase voluntary life insurance for yourself, you have the option of purchasing life insurance for your dependent children. Dependent child life insurance provides a benefit of up to $10,000, depending on the child's age, in the event of your dependent child’s death.

The cost of Dependent Child Life Insurance is $2.00 per month, regardless of the number of children you cover.

Naming Your Beneficiary

Use the Life Insurance Beneficiary Change Form to name your beneficiary.

When Coverage Ends

All coverage ends on the date your employment (or eligibility) ends. You may continue coverage by converting some or all of your insurance to a policy that you own. You must complete the conversion process within 31 days of losing coverage. To request conversion forms, contact benefits@berklee.edu or the insurance company CIGNA at 800-423-1282.  Please allow sufficient time to satisfy the 31 day deadline.