Life Insurance Coverage Employee Life Insurance Coverage Basic life insurance is 1.5 times your salary and paid by WVUH at no cost to you! Beneficiary receives double your annual base salary in the event of an accidental death Additional term life insurance (1-5 times your salary) is available for purchase. Anything over 2x requires immediate underwriting. Universal Life Insurance is a voluntary coverage that you may purchase for you, your spouse, and/or children. To discuss coverage you must meet with a Colonial Representative. If you do not choose to add 1x life insurance upon employment and choose to add life insurance later, the insurance company will go through an underwriting process, which requires disclosure of medical history. Dependent Life Insurance Coverage Child Death Benefit: Spouse Death Benefit: Cost Per Pay: Level 1: $2,000 $5,000 $0.50 Level 2: $5,000 $10,000 $1.02 If you do not choose to add spousal life insurance now and if you add life insurance later, the insurance company will go through an underwriting process, which requires disclosure of medical history. (Children do not require underwriting.) For more information on life insurance coverage, view our life insurance supplemental pdf.