gain financial protection with Life Insurance
Life insurance provides financial protection for your dependents and can be important to their future security. Creighton automatically provides group life insurance to all benefit-eligible employees. In addition, you have the option of voluntary life insurance through Mutual of Omaha.
Designating a Beneficiary and Maintenance of Beneficiary Designations
Designating beneficiaries for both Group Life and Voluntary Life may be done on-line by logging into myCreighton and clicking on the Employee Benefits icon to direct you to the ADP portal, or by calling the CU Solution Center at 866.903.8216. It is important to keep beneficiary information current. You may change your beneficiary designations at any time.
Continuing Life Insurance after Employment Change or Termination
You may continue the Group Term Life Insurance and/or Voluntary Term Life Insurance after leaving Creighton, or if you change to a non-benefit eligible status. Application for continuation of coverage must be mailed within 31 days of your last day worked/status change date at Creighton. Please thoroughly read and calculate your premium to evaluate your options. You will not be required to provide medical evidence of insurability. Application and payments are made directly to Mutual of Omaha/United of Omaha Life Insurance Company.
The option of converting the group/voluntary life policy to an individual, whole life policy also exists. The cost to convert is substantially higher, but may appeal to some. Please read the following document to learn more and calculate the costs.