Basic Group Life Insurance

Administered by The Standard

Policy #750966

Your Life, AD&D, and Disability Benefits Guide


All regular full-time and part-time faculty and staff are automatically enrolled in Basic Group Life Insurance, effective on the first day of active employment.  This benefit is paid in full by SMU.  In the event of your death, your beneficiary will receive 1-1/2 times your annual base salary (rounded up to the next $1,000), subject to the age-based reductions discussed below, up to a maximum of $750,000.   The benefit for Postdoctoral Fellows is $10,000. 

Age-Based Coverage Reductions

Basic Life Insurance will be reduced to:

  • 65% of the pre-age 65 coverage amount at age 65
  • 45% of the pre-age 65 coverage amount at age 70
  • 30% of the pre-age 65 coverage amount at age 75
  • 20% of the pre-age 65 coverage amount at age 80
  • 15% of the pre-age 65 coverage amount at age 85
  • 10% of the pre-age 65 coverage amount at age 90

Imputed Income

The IRS requires that the "value" of employer-provided group life insurance in excess of $50,000 be reported as taxable income to covered employees.  The "value" is referred to as imputed income.  To learn how imputed income is calculated, click here.

Beneficiary Designations

It is very important that you designate one or more beneficiaries for your Basic Group Life Insurance.  You will complete your designations via .  The Online Beneficiary Designation Guide will walk you through the process. You will need the Company Key:  standardbendes. You will find helpful information in the Beneficiary Designation FAQ.