Life Insurance

Group Basic Life Insurance

Providence College provides a group life insurance program with accidental death and dismemberment (AD&D) coverage for eligible employees. The College pays all premiums. The amount of coverage is an employee’s annual base salary (rounded to the nearest $1000) plus $5000 to a maximum of $300,000 with a matching AD&D Plan.  Upon request, and without a medical examination, an employee may convert this policy to an individual plan within 31 days of ending employment at the College.

Additional Employee Life Insurance

For greater financial protection, you can choose to increase your life insurance coverage above the basic life insurance provided by the College. This insurance is available to employees at low group rates based upon the employee’s age and salary. You can choose anywhere from one to five times your annual salary to a maximum of $500,000. No Evidence of Insurability (EOI) is required for the optional insurance amount of annual salary or $300,000 (whichever is less) as long as it is purchased during the first 31 days of initial eligibility or within 31 days of a qualifying event (contact Human Resources for more details on qualifying events).  For optional employee insurance purchased at other times, and for optional insurance in excess of one times annual salary or $300,000 (whichever is less), EOI is required.

Voluntary Life Insurance Premiums

​Employee Age Employee >Monthly Cost Per $1,000 of Coverage
​Under 3​​​0
30 to 34
35 to 39
40 to 44
45 to 49
50 to 54
55 to 59
60 to 64
65 to 69
70 to 99​
​$ 0.058
$ 0.080
$ 0.090
$ 0.100
$ 0.150
$ 0.275
$ 0.470
$ 0.670
$ 1.27
$ 2.06

Dependent Child Life Coverage

Employees may purchase $10,000 of life insurance on the life of their spouse and $5,000 of life insurance on the life of each dependent child (birth to age 19 or 23 if a full-time student). There is a flat monthly rate for this insurance regardless of the number of children on this policy.  This insurance is available without an EOI during the first 31 days of initial eligibility or during the open enrollment period.  If the insurance is purchased within either of these periods, children born/adopted later will automatically be covered.

The monthly cost for spouse and child coverage is $2.96 per family coverage.  The bi-weekly cost is $1.37 per pay for full year staff, $1.61 per pay for 10 month staff, and $1.78 per pay for 9 month staff.

One premium will insure your spouse (if applicable) and all eligible children, regardless of number of children you have.

Children may be covered up to age 19 regardless of student status and up to age 23 if full-time students.