OU's life insurance plans are administered by Lincoln Financial. Read more about the plan summaries here.
In addition to your Employer Paid Basic Life Insurance, benefits eligible employees have the opportunity to enroll in supplemental life insurance for themselves and their families.
Voluntary supplemental life insurance coverage is available in $10,000 increments with a maximum coverage of $500,000, not to exceed 5 times annual salary, rates are age based. Example: $50,000 (annual salary) X 5 = $250,000.
• Up to two Increments are available on a guaranteed acceptance basis during open enrollment ($20,000).
• Benefits terminate at retirement.
You may also choose to enroll your spouse according to the options below. Spousal life insurance can be purchased in increments of $5,000. Maximum coverage cannot exceed 100% of the employee’s approved combined Basic and Optional life insurance benefit, to a maximum of $150,000, rates are age based.
A beneficiary is a person or organization that receives a benefit if the covered person has passed away.
Lincoln Financial 800-423-2765