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* $250,000*
*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 accidental death and dismemberment 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 $0.06 $0.015
30–34 $0.09 $0.015
35–39 $0.11 $0.015
40–44 $0.14 $0.015
45–49 $0.21 $0.015
50–54 $0.34 $0.015
55–59 $0.60 $0.015
60–64 $0.82 $0.015
65–69 $1.45 $0.015
70+ $3.45 $0.015

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 $0.14/month
= $14/month
= $14/month x 12 months/26 pay periods
= $6.46/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 per month, regardless of the number of children you cover.

Naming Your Beneficiary

Please login in to Workday to add/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.