Following a review of the financial experience of the University's group benefit plans, the University has approved the renewal of the plans at existing benefit levels for the policy year beginning April 1, 2020.
SMU Benefits Renewal April 1, 2022
Basic Life Insurance
To determine your premium cost per pay, multiply your salary by 2, round up (to nearest thousand - $300,000 maximum), divide by 1000, multiply by 0.121, and divide by 4.
Long Term Disability (LTD)
To determine your premium cost per pay, divide your annual salary by 12, and multiply by 70%. Multiply this figure by $2.415/$100 and divide by 4.
Note: Maximum LTD benefit is $8,000/month.