Life Insurance can provide valuable financial protection. Columbia offers a Basic Term Life Insurance plan to help meet your needs. This plan is insured and administrated by New York Life Group Benefit Solutions (NYL GBS). Please note that New York Life Insurance Company recently acquired Cigna Group Insurance. As part of this transition, Cigna has changed its name to New York Life Group Benefit Solutions. The transition does not impact your current coverage or access.
Basic Term Life Insurance Plan
The Basic Term Life Insurance plan is provided by Columbia University at no cost to you. You will automatically receive Basic Term Life Insurance of $50,000.
The Basic Term Life Insurance plan pays a lump sum benefit to your beneficiary in the event of your death while you are a Postdoctoral Fellow at the University.
The Plan can also pay a living benefit. If you become terminally ill, you may elect to have the Plan pay out a benefit while you are still living. Any amount you receive will reduce the benefit paid to your beneficiary.