Life Insurance


As part of your total compensation, OU pays for Basic Life Insurance through Sooner Credits. Basic Life Insurance is provided at two coverage levels at no cost to full-time benefits eligible employees: 1.5 times your annual salary or a lower benefit of only $50,000. No action is required if you want to keep the same life insurance coverage you had last year. Individuals who may be concerned about imputed income1 may choose to consider this lower coverage plan. It is available to employees earning $33,000 or higher. The university provides Sooner Credits to cover the full monthly cost of this plan. There is no refund credit added to your paycheck for choosing this lower coverage option.

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. There are three options available:
  • Option 1 is 1.5 times your annual salary (annual salary x 1.5, example 30,000 x 1.5 = 45,000)
  • Option 2 is 3 times your annual salary (annual salary x 3, example 30,000 x 3 = 90,000)
  • Option 3 is 4.5 times your annual salary (annual salary x 4.5, example 30,000 x 4.5 = 135,000)

You may also choose to enroll your spouse according to the options below. Keep in mind, an employee must elect coverage on themselves before electing coverage for their spouse or children. Spouse coverage cannot exceed 50% of the employee coverage amount:

  • Option 1 is .75 times your annual salary (annual salary x .75, example 30,000 x .75 = 22,500)
  • Option 2 is 1.5 times your annual salary (annual salary x 1.5, example 30,000 x 1.5 = 45,000)
  • Option 3 is 2.25 times your annual salary (annual salary x 2.25, example 30,000 x 2.25 = 67,500)
  • Option 4 is 3 times your annual salary (annual salary x 3, example 30,000 x 3 = 90,000)

A beneficiary is the person or organization that receives a benefit if the covered person dies.

  • Beneficiaries can be added in the Life Insurance section of Employee Self-Service. Click "Enroll" above to log in to Employee Self-Service.
  • An employee must contact Human Resources to make changes to or remove a currently assigned beneficiary.
  • An employee's estate will be the designated beneficiary if they do not designate one when first enrolling in basic coverage. 
  • If they choose to enroll in additional coverage, the same beneficiaries designated for an employee's basic coverage will be assigned to their additional coverage. 
  • The employee is automatically designated as the only beneficiary for spouse and child coverage.

Changes in 2017

Beginning January 1, 2017, Lincoln Financial will replace Standard Insurance as the administrator of OU's life insurance plans. The plans and rates will remain the same.

With this change in insurance providers, Lincoln Financial is offering a one-time opportunity for employees to purchase Supplemental Life insurance up to an additional 3 times their annual salary (Basic and Supplemental Life insurance cannot exceed 4.5 times their annual salary) or $450,000, whichever is lower, without answering health questions to be approved for coverage. Any amount higher than this is subject to answering health questions for approval. This is a onetime opportunity – should you decide not to enroll this year, you will have to answer health questions and be approved for any amount of coverage during subsequent open enrollment periods. 

Note:  If you were previously approved for coverage with The Standard, Lincoln Financial will take over the existing amount without requiring health questions on an evidence of insurability (EOI) form.