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HR - Benefits


Cancer - Links
Flexible Spending
FMLA
HCC Approved Leave
Health & Wellness
Long Term Care
Long Term Disability
Pet Insurance
Pre-paid Legal
Short Term Disability
Term Life Insurance - Supplement
Voluntary Benefits

TERM LIFE INSURANCE COVERAGE

Eligible full-time employees are offered basic and supplemental term-life insurance at the time of employment. Aetna Life Insurance Company is the life insurance provider.

If an employee declines the option to purchase supplemental insurance and/or dependent insurance at the initial offering, later applications may be accepted during the College's annual Open Enrollment as long as evidence of insurability is included.

The following is an explanation of the Basic Life Insurance provided by HCC and the Supplemental Life Insurance available if the employee wishes to increase the coverage.

BASIC LIFE INSURANCE PLAN
Each full-time employee receives ONE TIME his or her BASIC ANNUAL EARNINGS rounded up to the next $1,000, with a maximum of $250,000 of life insurance coverage. This coverage is provided at NO COST to the employee. The life insurance amount is reduced by 33% at age 70, and by 50% at age 75.

SUPPLEMENTAL LIFE INSURANCE PLAN
Each full-time employee may purchase additional life insurance coverage up to FIVE TIMES the BASIC ANNUAL EARNINGS IF "ACTIVELY AT WORK". The maximum benefit (including Basic) cannot exceed $650,000. If this option is not elected at THE TIME OF EMPLOYMENT, the employee will be required to show proof of insurability to apply for supplemental coverage at a later date.

The cost of this coverage is based on the employee's age and salary. A schedule of the monthly cost per $1000 of life insurance will be found on the following page. Payment for the supplemental life insurance is made via payroll deduction with post tax dollars. The supplemental life insurance amount is reduced by 33% at age 70 and by 50% at age 75. Deductions for this coverage will change annually based on salary and age.

DEPENDENT COVERAGE
Full-time employees may purchase dependent coverage for their spouse, children, or spouse and child(ren). The employee is always the beneficiary of these plans and the face value of the plans remains constant. Spousal coverage has a face value of $25,000 and the child/children has a face value of $5,000 for each child. Payroll deductions for these plans are made with post tax dollars and the monthly costs will be found on the following page.
ENROLLMENT INSTRUCTIONS
At the time of enrollment, the employee must designate a beneficiary and make a decision regarding the supplemental coverage. Beneficiaries may be changed at any time. Please contact the Benefits Office or go to Public folders for the form.

QUESTIONS
If you have any questions on the life insurance plan offered by H.C.C. through Florida Combined Life Insurance Company, please contact the Benefits Office.


HILLSBOROUGH COMMUNITY COLLEGE
2007-2008 LIFE INSURANCE RATES
FOR ELIGIBLE EMPLOYEES


RATES PER
$1,000 H.C.C.
COST EMPLOYEE CONTRIBUTION
Basic Life $ .26
Basic AD&D .03

Supplemental Life
Based on Age:
30 and under .05
31 34 .07
35 39 .08
40 44 .12
45 49 .21
50 54 .34
55 59 .53
60 64 .82
65 69 1.47
70 74 3.72

NOTE: Basic and Supplemental Life Insurance amounts are reduced by 33% at age 70 and by 50% at age 75.



Dependent term life coverage is available at the following rates:

Spouse - $25,000 term life coverage $7.50/mo

Child(ren) - $5,000 term life coverage $ 2.00/mo ($500 coverage if under 6 months old) Up to age 19 or to age 25 if full-time student

Spouse plus Child(ren) - $25,000 + child amount $9.50/mo