Life Insurance

Harvard offers the three life insurance programs:

• Basic and Contributory Life Insurance
• Business Travel Insurance
• Long Term Care Insurance

Basic and Contributory Life Insurance
Harvard pays the full cost of Basic Life insurance equal to half an employee’s annual salary rounded to the nearest $1,000. There is no need to enroll in Basic Life Insurance; employees are automatically covered once they become eligible. Employees must enroll beneficiaries.

Contributory Life Insurance is also available. Employees pay the full cost. Coverage is available for up to five times the employee’s annual salary in addition to the basic benefit.

Pre-death life Insurance benefit
Harvard’s life insurance program allows employees who become terminally ill to receive an accelerated benefit, which is up to 50 percent of their total life insurance coverage. This benefit is designed to assist employees with illness, care, and their funeral arrangements, as well as settling of personal affairs.

Business Travel Insurance
Harvard pays the full cost of business travel coverage equal to five times the annual salary. Benefits are payable to employees if they die, suffer a serious bodily injury, or become disabled as the result of an accident that occurs while traveling on University business.

Long-Term Care Insurance

Harvard offers Long-Term Care Insurance, through Genworth Life Insurance Company to help pay for the cost of a nursing home stay or at-home nursing care, should employees or insured members of their family become unable to perform basic daily activities of living due to a chronic illness or physical or cognitive disability.

Coverage under this plan is optional, and employees pay the full cost with after-tax payroll deductions. Employees and their spouses - and other members of their family - may apply for coverage at any time.

If employees apply within 60 days of first becoming eligible for coverage, they are guaranteed acceptance into the plan. If they apply after that time, they must provide proof of good health and be accepted for coverage. Eligible family members must provide proof of good health whenever they apply. Eligible employees must live in the United States.