Life Insurance - College Provided
Group Term Life Summary Plan Description
The following information comprises the Summary Plan Description to our employees under the Employees’ Retirement Income Security Act of 1974 often referred to as ERISA.
This Welfare Benefit Plan is administered by Rhodes College, 2000 North Parkway, Memphis, TN 38112 whose Internal Revenue Service Employer Identification Number is EIN620476301. The Plan Number is 503. The Plan year is July through June. This is an insurer administration plan.
Information regarding Plan eligibility, enrollment, cost, and the procedure for applying for benefits is contained in this section. The Certificate of Insurance which each insured employee receives includes a description of benefits under the Plan and the conditions under which these benefits are available to insured individuals.
Employees Eligible for the Plan.
All active full-time faculty and staff categories A and B are eligible.
When an Employee Becomes Eligible for Insurance.
Each employee becomes eligible for insurance under the Plan the first day of the month following the date of employment with Rhodes. If an employee is absent from work on the day he or she would otherwise become eligible, the employee will become eligible on the day he or she returns to work.
Enrolling in the Plan.
An employee will become insured on the first of the month following date of hire. No medical examination is necessary. Enrollment forms, which should be completed promptly, may be obtained from the Human Resources Office. Additional information about enrollment procedures may also be obtained from this office.
Applications, Requests, and Questions Directed to the Plan Administrator.
Applications, requests and questions regarding enrollment, participation, or other administrative matters and service of legal process on issues arising from such questions, should be directed to the Plan Administrator, Director of Human Resources, Rhodes College, 2000 North Parkway, Memphis, TN 38112, (901) 843-3750.
If a written application or request pertaining to enrollment, participation or administration of the Plan is denied by the Administrator, the Administrator shall, within a reasonable time, provide a written denial to the participant. It will include the specific reasons for denial, the provisions of the Plan upon which the denial is, a description of any material needed to complete the application or request (if appropriate) and why it is necessary, and instructions on review procedures. When the Administrator requires additional time to respond because of special circumstances, an extension of up to 90 days may be obtained by notifying the participant that a decision will be delayed, what circumstances have caused the delay and when a decision can be expected. The Administrator will inform the participant of the delay within 90 days of the date the application or request was submitted.
A participant may request in writing a review of a denied request or application, and may review pertinent documents and submit issues and comments in writing to the Administrator. The Administrator shall provide in writing to the participant a decision upon such request for review within 60 days of receipt of the request. When special circumstances require an extension, the Administrator may obtain an extension of up to 60 days by notifying the participant why the decision on the review will be delayed and when a decision can be expected.
The Cost of the Plan.
Rhodes currently pays the entire cost of this Plan. Periodically, generally near the end of a plan year, the insurance company reviews the adequacy of premiums charged for the Plan and advises the College whether existing premium rates will be continued or whether adjustments will be made for the coming year.
Covered Schedule (Life and AD&D), maximum benefit is $300,000:
Employee’s Age Amount of Coverage
18 - 64 Years 1.00 x Annual Salary
65 - 69 Years .65 x Annual Salary
70 - 74 Years .45 x Annual Salary
75 - 79 Years .30 x Annual Salary
80 - 84 Years .20 x Annual Salary
85 - 89 Years .15 x Annual Salary
90 and over .10 x Annual Salary
Applying for Benefits.
The appropriate forms for applying for benefits, and assistance in the completion of these forms, may be obtained from the Human Resources Office. The forms when completed will be forwarded by the Compensation and Benefits Manager to the insurance company.
Notice and proof of claim should be made promptly. Details on the applicable time limits for submitting benefit applications may be found in the Certificate of Insurance which each insured employee receives, as well as in the Group Policy maintained in the office of the Plan Administrator. Upon receipt by the insurance company of the application for benefits and supporting documentation, valid claims will be paid promptly.
If a claim is denied, the insurance company shall within a reasonable period of time (not exceeding 90 days) provide a written denial to the participant. It will include specific reasons for denial, the provisions of the insurance contract on which the denial is based, and how to apply for a review of the denied claim. Where appropriate, it will also include a description of any material which is needed to complete or perfect a claim and why such material is necessary. A participant may request in writing a review of a claim denied by the insurance company and may review pertinent documents and submit issues and comments in writing to the insurance company. The insurance company shall provide in writing to the participant a decision upon such request for review of a denied claim within 60 days of receipt of the request.
If special circumstances require a delay on the initial decision on a claim or a review of a denied claim, the insurance company will notify the participant within 90 days of the date the claim was initially submitted or within 60 days of the date a review was requested. The notice will explain the reasons for the delay and when a decision can be expected. In no event will the decision be provided later than 90 days after the notice is sent for an initial decision on a claim or more than 60 days after the notice is sent for a review of a denied claim.
Currently the insurance company is HCC Life. Requests for information concerning HCC Life insurance contract and its terms, condition, and interpretations thereof, claims thereunder, any requests for review of such claims, and service of legal process may be directed in writing to HCC Life, P.O. Box 402032, Atlanta, GA 30384.
For a statement of ERISA rights see ERISA.
Amendment to the Group Life Insurance Plan.
Rhodes College shall be the Administrator for this Plan, and as such, shall have the authority to control and manage the operation and administration of the Plan, subject to the provisions of the Group Insurance Policy. The Administrator has designated in writing the Director of Human Resources to carry out duties under the Plan.
The Board of Trustees reserves the right to modify or discontinue the Plan at any time. Such modification or discontinuance must be effected in accordance with the terms of the group insurance contract.
Revised February 13, 2007.
In effect April 26, 2004.
Vice President for Finance and Business Affairs.