Life Insurance

There are two life insurance plans offered under Yavapai Combined Trust.

Plan 1 – Basic Life Insurance

Coverage for employee; which includes Accidental Death and Dismemberment as well as coverage for dependents (spouse coverage is $2000 and each child at $1000). For dependent(s) to be eligible for coverage, they must be covered under the YCT medical plan.

• Coverage is effective on the date of hire
• Insurance carrier is with Standard Insurance
• College pays full premium for employee and dependent, if applicable
• The life insurance coverage for employee is typically two times the annual base salary

Plan 2 - Supplemental Voluntary Life Insurance

Available for purchase for employee, spouse and dependent children

• Coverage is effective the first of the month after 30 days from date of hire
• Insurance carrier is with Standard Insurance
• Employee pays full premium
• When an employee signs up for this coverage at date of hire, there is no requirement for medical underwriting for evidence of insurability. The Guarantee Issue amount an Employee is eligible for is up to $50,000 coverage; spouse is eligible up to $20,000 coverage and the dependent(s) $10,000 coverage.
• There is no open enrollment restrictions. An employee can apply anytime, but will subject to medical underwriting for evidence of insurability. If approved, coverage is effective the first of the month following the approval date.
• Coverage for employee is up to a maximum amount of $500,000
• Coverage for spouse is up to half of the amount of coverage of employee
• Coverage for dependent children is $2000, $5000 or $10, 000 (family units report as 1 – can have 10 dependents with $10,000 coverage for each; premium is the same no matter how many children you have)

Standard Life Insurance Certificate