HUMAN RESOURCES at MIT

Basic Life Insurance

MIT provides you with life insurance protection.

Who Is Eligible

You are generally eligible for life insurance coverage and may enroll in supplemental life insurance through the Group Life Insurance Plan if you: (1) work at least 50% of the normal full-time work schedule in your department, laboratory or center; (2) are appointed to work at MIT for at least three months; and (3) are paid by MIT.

The following are not eligible: visitors, consultants, contractors, fellows, affiliates, teaching or research assistants, honorary lecturers, post-doctoral trainees, people paid by MITemps and members of the armed services assigned to MIT. Paid visitors are only eligible for Travel Accident coverage.

If you are a member of a collective bargaining unit, all the provisions of the Plan are subject to the terms of your collective bargaining agreement.

Learn more about benefits eligibility.

Benefit

Basic Coverage: Basic life insurance coverage up to $50,000 begins on your date of hire or appointment. MIT pays the full cost of this coverage.

Basic Life Insurance and Coverage Reduction due to Age
The amount of your basic life insurance after you reach age 65 will periodically be reduced based on the amounts specified in the table below:

Age of Employee as of July 1 Following One’s Date of Birth Associated with the Age Schedule Below
Amount
65 but less than 70 $33,000
70 but less than 75 $22,000
75 but less than 80 $17,000
80 but less than 85 $13,000
85 but less than 90 $10,000
90 but less than 95 $8,000
95+ $6,000

For more information please refer to the Group Life Plan Description (download as a PDF).

Accidental Death & Dismemberment Insurance

Accidental Death and Dismemberment Insurance (AD&D) provides coverage in addition to basic life insurance if you die or are dismembered as a result of an accident. This AD&D benefit may provide up to two times your basic coverage, subject to certain limitations. This coverage begins on your date of hire or appointment. MIT pays the full cost of this coverage.

Accidental Death and Dismemberment Insurance and Coverage Reduction due to Age
The amount of your Accidental Death and Dismemberment insurance after you reach age 65 will periodically be reduced based on the amounts specified in the table below:

Age of Employee as of July 1 Following One’s Date of Birth Associated with the Age Schedule Below
Amount
65 but less than 70 $66,000
70 but less than 75 $44,000
75 but less than 80 $34,000
80 but less than 85 $26,000
85 but less than 90 $20,000
90 but less than 95 $16,000
95+ $12,000

For more information please refer to the Group Life Plan Description (download as a PDF).

Business Travel Accident Insurance

MIT's Business Travel Accident Insurance policy provides benefits to eligible employees while traveling (domestic and international) on Institute business, for emergency medical evacuation, accidental death, dismemberment, and repatriation expenses. The plan covers 5 X Salary, $250,000 minimum/$1M maximum. MIT pays the full cost of this coverage.

Learn more about Business Travel Accident Insurance.

Work-Related HIV Benefit

This benefit provides financial assistance to you if you become HIV-positive as a result of a work-related incident. Coverage under this plan is effective on your date of hire or appointment. The plan benefit is a single sum payment up to $100,000 and is paid in addition to any amounts that are payable under Worker's Compensation and other MIT benefits. You must follow MIT's policy regarding completion of an incident report and other procedures to qualify for this benefit.

Supplemental Life Insurance

You may purchase supplemental life insurance coverage equal to one, two, three, four or five times your base annual salary.

Learn more about Supplemental Life Insurance.

Naming a Beneficiary

It is important that you name a beneficiary to receive benefits from the life insurance plan in the event of your death. It is important to keep your beneficiary designation up to date and to let your beneficiary know about your MIT life insurance coverage.

This information is intended to be a summary of the Plan. The Plan document (available from the Benefits office) contains all the details. If there is a conflict between this summary and the Plan document, the Plan document will control.

MIT expects to continue the Plan as a benefit to employees, but reserves the right to change or terminate the Plan should this become necessary or advisable.

Forms & Publications