Basic Group Term Life Insurance
SMCPS provides basic life insurance that covers you at all times. For employees employed for 30 or more hours per week, the Board shall pay 90% of the premium cost for term life insurance. For employees employed fewer than 30 hours but not less than 18.75 hours per week, the Board shall pay 45% of the premium cost for term life insurance. Term life insurance shall equal the employee's annual salary to the next highest thousand up to a maximum amount of $250,000. An employee may also elect supplemental life insurance to increase the value of their term life insurance policy in increments of $10,000, up to five times the amount of their annual contracted salary, with a maximum of $1,250,000. (If the value exceeds two times their annual salary, evidence of insurability may be required.) Employees shall be responsible for 100% of this additional premium cost for supplemental life insurance.