I didn’t know that I had life insurance. Who pays for it?
TCU pays 100 percent of the basic term life insurance for all employees who work at least 75% of full time. The amount is $25,000 or 1 times your salary which ever is greater.
I need to change my beneficiary on my life insurance. How do I make this change?
Come into HR and fill out the forms that allow you to make the changes.
Can I increase my life insurance?
Supplemental Life Insurance for $25,000, $50,000, or 1 – 4 times your salary is available for employees that work at least 75% of full time. This Optional term life is paid 100 percent by employee, the rates are based on age and salary. If you are within 30 days of your hire date you can come into HR and sign up for Supplemental Life Insurance without having to fill out Evidence of Insurability forms. If you are past your 30 days you may print and fill out the Evidence of Insurability Short Form and return it to HR. If you answer yes to any of the questions on this form you will need to print and fill out Evidence of Insurability Long Form. and return it to HR. (HR also has the printed forms.) HR will send both forms to the insurance company. The insurance company will approve or deny your application and will contact you and TCU by letter. If approved TCU will update your benefits with your choices from the Benefit Enrollment form that is to be filled out in HR.
Is there Life Insurance for my Spouse or dependents?
Dependent Life Insurance for Spouse is $7500 and Dependent Life Insurance for Child is $3000. The cost monthly is $2.40 for Spouse, $.36 for Child(ren), and $2.76 for Family. You must work at least 75% of full time to be eligible for this benefit. Click on Dependent Life insurance to see the details of the plan.
What is the group number?
The Life insurance group number is 301938.
What happens to my life insurance when I terminate employment?
Life, Supplemental, and Dependent life insurance will terminate on the same day as employment termination or retirement. If you want to continue the Life, Supplemental, or Spouse life insurance contact HR within 30 days.
