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VOLUME 18, NUMBER-21
JUNE 4, 1971
DURHAM, NORTH CAROLINA
Cost to Employes Reduced
Better Life Insurance Plan Available
June 15 is the deadline for full-time
employes to apply for Duke University's
expanded life insurance coverage
announced last week. The insurance will
go into effect July 1.
In a letter to all eligible employes.
Duke administrators explained that the
new insurance plan will reduce the cost of
employe life insurance from 60 cents per
month for each $1,000 of life insurance
to 30 cents per month.
A new accidental death and
Duke Life Insurance Program
Basic Annual
Amount of
Earnings
Life Insurance
Monthly Contribution
$25,000 or more
$50,000
$15.00
22,500 but less than $25,000
45,000
13.50
20,000 but less than
22,500
40,000
12.00
17,500 but less than
20,000
35,000
10.50
15,000 but less than
17,500
30,000
9.00
12,500 but less than
15,000
25,000
7.50
10,000 but less than
12,500
20,000
6.00
8,750 but less than
10,000
15,000
4.50
7,500 but less than
8,750
12,500
3.75
6,250 but less than
7,500
10,000
3.00
5,000 but less than
6,250
7,500
2.25
Less than $5,000
5,000
1.50
$5,000, HAND-TO-HAND—Dr. Roy T. Parker, left, chairman of obstetrics and
gynecology, accepts a $5,000 check from George Grant, clinical associate in the
medical department of the S. E. Massengill Co., a pharmaceutical firm in Bristol, Tenn.
The grant, one of several the company has given Duke over the past several years, is for
the unrestricted use by Ob-Gyn. At right is C. P. Jones, a research associate in the
department. The Massengill Co. also gave a $2,500 unrestricted contribution to be
administered by the president of the University, (photo by Thad Sparks)
dismemberment plan was added to the
policy, with the cost of this insurance
included in the 30 cents per $1,000
monthly premium.
In addition, the cost to employes for
life insurance coverage of their spouse
and children will drop from 87 cents f)er
month to 50 cents per month.
The amount of life insurance an
employe may purchase depends upon his
basic annual earnings. (See box this page.)
The new accidental death and
dismemberment clause permits
beneficiaries to collect double the
amount of life insurance if the insured's
death was accidental. In addition, half the
amount of life insurance will be paid in
case of the loss of one eye or one limb
and the entire amount in case of the loss
of both eyes or two limbs.
The single 50 cents per month
premium insures the employe's spouse
and all children between one and 19 years
of age for $1,000 each. Children between
the ages of 14 days and one year receive
$200 insurance. Unmarried children
between 19 and 23 who are full-time
students may be continued on this policy
as long as they are dependent on the
employe for support.
The new Duke life insurance program
is being underwritten by Northwestern
National Life Insurance Company of
Minneapolis, Minn. The old policy,
provided by the Aetna Life Insurance
Company of Hartford, Conn., will end
July 1.
Any employe who has had the Aetna
policy in the past must reapply for the
new insurance plan. Your insurance will
not automatically 6e switched to the new
program.
For more information, contact the
Medical Center Personnel Office, Room
1160 Hospital, or call extension 3424.