This plan begins for a full-time faculty member three months following the appointment date and is in two parts. Vanderbilt pays the basic benefit equal to the annual salary. The faculty member pays the cost for the voluntary portion elected. When both husband and wife are employed at Vanderbilt and eligible for dependent life benefits, the dependent life benefits are provided to each. The premium changes as age and salary advance for the faculty member.
Benefits increase automatically with salary increments.
However, active employees ages 65 and older will have coverage equal to a prorated percent of the amount of coverage elected. Life insurance after retirement is provided for faculty members who were enrolled in the group life program before May 1, 1971. Faculty members who qualify for this insurance can obtain specific provisions from Human Resource Services. In order to take advantage of the waiver of a health statement or physical examination, new faculty must apply for group life insurance within 31 days after the appointment becomes effective. If the individual should decide to cancel participation in the contributory part or to enroll at a later date, the change should be made in writing to the Benefits Office of Human Resource Services.