Basic Life and AD&D insurance
Lincoln Financial Group
Eligibility: Exempt staff and Faculty with an annual half-time contract or more are eligible for enrollment within the first 30 days of commencing work at California Lutheran University. Non-exempt staff who work 30 hours per week or more are eligible for enrollment the first of the next month after completing 30 days.
- Provided at no cost for eligible employees
Value of two times base annual salary up to a maximum of $600,000 (taxable on coverage
over $50,000). Value reduced by 35% after age 65 and 50% of the pre-age 65 amount
at age 70. Coverage terminates at retirement. If you are diagnosed as terminally ill
you may cash out up to 75% of your benefit.