Basic Life and AD&D insurance
Lincoln Financial Group
Eligibility: Administrators 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. Staff employees 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.