Life insurance is one of Ball State’s mandatory ancillary benefits, this benefit is paid 100% by Ball State University.
- Life insurance provides a death benefit to your designated beneficiary or beneficiaries.
- Your benefit amount, up to a maximum of $125,000, is calculated using this formula:
- (your base salary) x 103 percent x 2
- round to the nearest thousand
- Ball State provides Group Term Life Insurance at no cost to you.
- Active employees will have their coverage reduced by 40 percent on the July 1 after their 66th birthday.
- An accelerated death benefit is available. It lets employees with a life expectancy of 12 months or less collect up to 80 percent of their life insurance benefit before death.
- Coverage can be converted if it ends for any reason other than nonpayment of premiums.
- The plan includes access to Voya provided Bereavement Support, including Funeral Support & Estate Planning. Travel Assistance offers you and your dependent services when traveling 100 miles or more from home, including: medical assistance, emergency medical transport services, travel assistance services, such as pre-trip and cultural information, security services and accessible technology .