Life Insurance/Survivor Benefits
CSU-Paid Life Insurance
The CSU offers employer-paid basic term Life and Accidental Death and Dismemberment
(AD&D) insurance to eligible employees:
The insurance is underwritten by Standard Insurance Company:
- Confidential: $50,000 basic term life/$50,000 AD&D policy
- Management Personnel Plan (MPP): $100,000 basic term life/$100,000 AD&D policy
- Executive: $250,000 basic term life/$250,000 AD&D policy
- CSUEU (Units 7 and 9): $10,000 basic life/$10,000 AD&D policy
Program Details »
- CSU pays the entire premium.
- First $50,000 is tax-free.
- MPP employees and Executives who do not want the additional tax liability
may irrevocably waive the extra insurance for the remainder of their CSU employment.
- Life insurance over $50,000 will have income tax impact on employee based on
amount over $50,000 and employee's age.
See Table » (.pdf)
MEDEX Travel Assist
CSU-Paid Life Insurance Beneficiary Designation and Change Form
Voluntary Employee-Paid Life Insurance
The CSU offers employee-paid voluntary life insurance through the Standard Life
Insurance Company to all eligible employees. Employees may purchase protection for
themselves and eligible family members including spouse/domestic partner and
New employees qualify for Guarantee Issue coverage if coverage is applied for within
60 days of start of employment. Under the Guarantee Issue provision, employees may
apply (without answering medical questions) for coverage up to:
- Employee coverage range: $10,000-$1,500,000
- Spouse or domestic partner coverage range: $10,000-$750,000
- Coverage for children: $5,000, $10,000 and $20,000 (all your children must be
insured for the same amount)
Amounts in excess of the Guarantee Issue, up to the maximum limits, may be chosen
and require evidence of insurability.
- $150,000 for themselves
- $50,000 for their spouses/domestic partners
- $20,000 for each child without answering medical questions
For more information go to http://www.standard.com/mybenefits/csu or contact The Standard customer service at 1-800-378-5745. To apply, make changes, or review benefits log in at www.standard.com/enroll.
Program Details »
Voluntary Employee-Paid Life Insurance Beneficiary Designation and Change Form
CalPERS Death Benefit
The benefits payable depend on a number of factors such as the member's age, years
of service, eligible beneficiary, and whether or not the employee was eligible to
retire at the time of death (age 50 with at least five years of service credit).
The following benefits may be payable:
Monthly payments may also be available. CalPERS will send information and the
necessary forms shortly after a death is reported. The information on the completed
forms serves as the formal application to receive payable death or survivor benefits
and to identify family members who may be legally entitled to benefits.
- Limited Death Benefit - Return of the member's contributions
and interest through the date of death.
- Basic Death Benefit - Return of the member's contributions
and interest. In some cases, there may also be a payment equal to half of the
member's annual earnings for the year preceding death.
- Group Term Life Insurance - A lump sum payment of $5,000.
In some instances, there may also be a payment equal to half of the member's
earnings for the year preceding death.
CalPERS Beneficiary Designation Form
Social Security Survivor Benefits
When a person who has worked and paid Social Security taxes dies, certain members
of the family may be eligible for survivors benefits. Up to 10 years of work is
needed to be eligible for benefits, depending on the person's age at the time of death.
Social Security survivors benefits can be paid to:
Social Security Online »
- A widow/widower — full benefits at full retirement age or
reduced benefits as early as age 60.
- A disabled widow/widower (as early as age 50).
- A widow/widower at any age, if he or she takes care of the deceased's child
who is under age 16 or disabled, and receiving Social Security benefits.
- Unmarried children under 18 or up to age 19, if they are attending high school
full time. Under certain circumstances, benefits can be paid to stepchildren,
grandchildren or adopted children.
- Children at any age who were disabled before age 22 and remain disabled.
- Dependent parents age 62 or older.
April 29, 2011