2024 Life Insurance Benefits
Dartmouth College offers a variety of insurance products and services to benefits-eligible employees. A brief description of each, including rates is listed below.
Contact Lincoln Financial Group
What is changing in 2024?
Plan Design- There are no plan design changes to the life insurance benefits in 2024.
Rates- Salary band rates for the Supplemental life insurance benefits will not change in 2024. However, you may see a change in monthly premiums if you had a change in your annual salary in 2023, or if your age on January 1, 2023, puts you into a new age band. Use the Benefit Plan Cost Estimator to determine your monthly Supplemental life insurance costs in 2024.
Other Important Open Enrollment Information
Making Changes - If you wish to increase or decrease coverage, and/or add or remove Supplemental or dependent life insurance for calendar year 2024, you will need to do so during the 2024 Open Enrollment period (10/23/23-11/6/23) or as a new hire in 2024. Otherwise, you will not be able to make changes to your existing elections, unless you have an IRS eligible life event during the calendar year. Life events must be completed within 30 days of the event date.
Beneficiaries - Life insurance beneficiaries may be changed in FlexOnline at any time during the calendar year, without a life event.
Eligibility and Enrollment
Lincoln Financial offers a variety of life related products to Dartmouth's benefit eligible faculty & staff. The amount and type of life insurance available is determined by your employment category. Please refer to each benefit below to determine which products you are eligible for and their associated coverage and costs.
Some of the life insurance benefits mentioned below are available at no cost to you and will not require enrollment in the FlexOnline system or medical evidence of insurability. However supplemental life and dependent life do have a cost associated and enrollment is required in each of these benefits in the FlexOnline system. Please review each benefit carefully for specific information about enrollment and making changes.
Basic Life Insurance
Group term life insurance will provide a life benefit to the beneficiaries of a covered individual who dies during the defined covered period.
- Faculty, Exempt and Non-Exempt employees are eligible to receive a $50,000 basic life insurance benefit at no cost.
- SEIU employees receive 2.5x their annual salary at no cost, after one year of eligible
- SEIU Beneficiary Form - please complete this form if you are unable to enter beneficiaries in the FlexOnline system.
- Research Associate Bs and Research Fellows have the option of purchasing the $50,000 basic life plan and/or 1–8x annual salary.
- Evidence of Insurability is not required for Basic Life Insurance coverage.
Supplemental Life Insurance
Supplemental group term life insurance will provide a life benefit to the beneficiaries of a covered individual who dies during the defined covered period.
- Faculty, Exempt and Non-Exempt employees are also eligible to elect a group term life insurance plan of an amount up to 8x their annual salary, to a maximum of $1,500,000.
- Research Associate Bs and Research Fellows also have the option of purchasing 1–8x annual salary.
- Group term life rates are calculated based on age bands and per thousand dollars of coverage. Rates can be calculated using the benefit cost estimator.
- Optional life insurance premiums are based on the employee's salary on January 1. Therefore, a life insurance payment due to a beneficiary will be based on the salary effective January 1.
- When increasing life insurance levels during open enrollment or a qualified life event, Evidence of Insurability (EOI) is required, and you must complete a Statement of Health through Lincoln Financial. A link will be provided at the end of your enrollment process in FlexOnline, and changes will not take effect until the Statement of Health is completed and approved by Lincoln Financial.
Dependent Life Insurance
You may elect life insurance for your dependents.
- This is a life insurance policy in which you are the named beneficiary in the event that something should happen to your insured dependents.
- Evidence of Insurability (EOI) is not required for Dependent Life Insurance coverage.
- Plan guidelines do not allow Dartmouth couples to cover one another on dependent life, and only one spouse can cover the children.
- SEIU employees are eligible to elect dependent life after one year of eligible employment.
- Plan coverage and rates
Cost of Coverage
Faculty, Exempt, Non-Exempt and SEIU employees are eligible to receive a basic life insurance benefit at no cost. Research Associate Bs and Research Fellows have the option of purchasing the $50,000 basic life benefit at the cost of $4.65/month.
Faculty, Exempt, Non-Exempt, Research Associate B's and Research Fellows have the option of purchasing 1X to 8X annual salary. Group term life rates are calculated based on eleven different age bands and per thousand dollars of coverage. Premiums are based on the employee's annual base salary as of January 1st. Therefore, a life insurance payment due to a beneficiary will be based on the salary effective January 1st. Some qualified life events may cause a recalculation in your monthly life insurance premium.
You can expect your Supplemental life insurance rates to increase as you age. Your life insurance premiums will recalculate each year during open enrollment and are based on your age as of January 1st. Age bands start at ages 18-24, then increase every five years, from 25-29, 30-34, and so on until you reach age 70+, after which point, they do not change.
For 2024 rates, please use the benefit plan cost estimator tool, using your anticipated base salary as of January 1, 2024.
Monthly rates for Dependent Life insurance are as follows:
Beneficiaries for your all your life insurance products are assigned and allocated within the FlexOnline system. Beneficiary designation can be changed at any time. From the main dashboard in FlexOnline, simply click on MY PROFILE and BENEFICIARIES.
SEIU employees will be prompted to enter beneficiary information upon hire, so that they will not have to remember to do it after the waiting period.
Make sure that you review your beneficiary information periodically in case life changes.
All additional benefits through Lincoln Financial Group lik the Travel Assistance, AD&UD, LifeKeys®, and Lincoln FuneralPrep services are available to all members enrolled in a basic life plan at no additional cost.
Lincoln Financial Group’s TravelConnect® program provides employees with 24/7 access to a multilingual assistance coordinator who can assist with doctor referrals, transportation, prescriptions, and use of a 24/7 nurse line. This program, provided at no cost to you, also supports you in the event of a medical emergency, natural disaster, and political upheavals. Evacuation to the nearest hospital or safe haven can be arranged, or travel arrangements home can be made as needed. For general travel, LFG can assist with pre-trip travel services, lost travel documents, and legal consultation/referrals.
More information about the TravelConnect® Services.
Accidental Death & Dismemberment
Dartmouth provides an accidental death and dismemberment (AD&D) benefit through Lincoln Financial that matches your basic and supplemental life insurance benefits up to a maximum of up to $250,000.
No matter how well you plan, unexpected challenges will arise. When they do, help and support are nearby — thanks to LifeKeys® services from Lincoln Financial Group.
LifeKeys® services include:
- Online will preparation
- Guidance and support for your beneficiaries
- Protection against identity theft
- Help with important life matters
- Save money on shopping and entertainment
More information about the LifeKeys® Services.
It’s easy to access LifeKeys® services. Just visit GuidanceResources.com, download the GuidanceNow® mobile app, or call 1-855-891-3684. (First-time user: Enter Web ID LifeKeys)
Help when you need it most. With many details to manage and decisions to make, the funeral planning process can be overwhelming. Top you every step of the way, Lincoln has partnered with Funeral Decisions Co. to provide comprehensive planning services.
More information about the Lincoln FuneralPrep Services.
Filing a Claim
Each beneficiary will need to contact the benefits office at 603-646-3588 or by emailing us at Human.Resources.Benefits@dartmouth.edu. We will need a copy of the deceased's death certificate in order to file a claim. Most life insurance payouts will be paid based on your annual base salary of January 1st. Some qualified life events occurring after January 1st may cause a recalculation in the benefit amount.
Lincoln Financial will mail a packet of information to your home, giving you the option to either port or convert your voluntary and dependent life insurance benefits. The $50,000 basic life plan is only available to convert. Porting is a non-Dartmouth group plan, while conversion allows you to take an individualized plan. You will be instructed to contact Lincoln Financial, and a representative will call you back with information. You will have 31 days from the last date of benefit coverage to complete and return the form to Lincoln Financial. Rates will differ from your Dartmouth College Group rates.
For more information on the impact of benefits when leaving Dartmouth, please visit our LEAVING DARTMOUTH webpage.