Basic and Elective Life Insurance

Life Insurance

Carnegie Institution provides basic life insurance, plus the opportunity to purchase elective life insurance. To be eligible for basic life insurance coverage, you must be an active full-time employee. As a Carnegie employee, you are automatically enrolled in our basic life insurance program. Both the basic life insurance and supplemental life insurance are provided by Guardian Insurance Company.

Plan Information

  • Carnegie‚Äôs basic term life insurance provides a benefit if you die when employed at the Institution. The Institution-paid benefit of two-times (2x) annual salary with a maximum benefit of $200,000 is offered at no cost to Carnegie employees.
  • Carnegie full-time employees and fellows may purchase elective life insurance through Guardian in $50,000 increments up to $500,000. You pay the full cost of this extra insurance through payroll deduction. Coverage ends when your employment with Carnegie ends (although you may continue the policy directly with the insurance company). The monthly premium rates are based on your age and are listed in the Guardian brochure. As you grow older and move into a new age bracket, your premiums increase.
  • Eligible employees who already have elective life insurance can increase it every year at open enrollment by $50,000 (with no medical exam) to the maximum of $200,000 (with completion of the Evidence of Insurability form). Employees who do not enroll within 30 days of their employment date are eligible for guaranteed issue of $50,000 at open enrollment. Any amount over $50,000 requires the completion of the Evidence of Insurability form.
  • If you buy elective coverage for yourself, you may also purchase coverage for your spouse and unmarried children. For your spouse, you may purchase up to 50% of the amount you buy on your own life (in $25,000 increments). You may purchase 10% of your elected amount up to $10,000 for each child. **There is no guaranteed issue amount for a spouse or children, and the Evidence of Insurability form will need to be completed.

Life Insurance Resources