Life Insurance Plans

Financial security and the peace of mind that loved one’s financial health is protected is available through MCC’s Life Insurance benefits. MCC offers two different Unum life insurance plans. The basic life is an employer paid plan while the optional life plan allows employees to purchase life insurance through payroll deduction. Employers may choose to offer basic life and/or the option life plan.

Basic Life Insurance with AD&D

The Basic Employer-Paid Life Insurance with Accidental Death and Dismember is employee benefit plan whereby the employer offers one of three levels of coverage equal to 1, 1.5 or 2 times one year’s base annual earnings. Maximum benefit amount is $500,000. Coverage is portable if coverage ends due to termination of employment or reduction in hours.

Optional Life Insurance

Optional Life is an employee paid benefit. It provides employees to purchase affordable term life insurance for themselves and dependent children through payroll deduction. The optional life plan is a fully insured term life plan through Unum.

Optional Life amounts are $10,000, $25,000, $50,000 and $100,000 for employee coverage and $10,000 on children. Employee optional life cost varies based on amount selected and age of employee. There is not required proof of good health when initially offered optional life coverage. Late enrollment requires evidence of insurability.

Resources and Forms for Life Insurance

Life Insurance After Termination of Employment

Portability Coverage

Employees leaving employment in good health, can apply for Portability coverage through UNUM. An employee whose hours drop below full-time status may also apply.
The employee must request, apply and pay for the Portability coverage within 31 days of termination of employment or change in employment status.
Employees can port to the amount of coverage they held under their employer’s policy or a decreased amount.
This is a term life policy.

Conversion Coverage

An employee terminating employment who is “suffering from a disease that has a material and substantial effect on his/her life expectancy” may purchase a Conversion Policy to replace the amount of life insurance he/she had when coverage terminated.
The employee must request, apply and pay for the Conversion Policy within 31 days after the group life insurance policy ends. The amount of coverage will remain the same.
The employee can convert to a 1 year term policy. After the first year, it transitions to a whole life policy. No questions are asked about the employee’s health or any other insurance risk factors. No verification of disability is required.
The cost of the Conversion Policy will be based on UNUM’s published rates for age and classes of risk at the time of purchase.
For more information, please contact the Michigan Catholic Conference Benefits Department by phone at (800) 395-5565 or via email at benefits@micatholic.org.