Holly Ashley enrolled in Duke's supplemental life insurance to
protect her family from financial burden. Pictured are Ashley and
her husband, Mark, with their Chihuahua, Teddy, and children,
Angel and Mark Jr.
Adding Peace of Mind
Enroll in Supplemental Life Insurance, Receive a Free Will
For Holly Ashley, peace of mind is priceless. That's why
she enrolled in Duke's Supplemental Life Insurance for
herself and her children.
For only $5.72 a month, Ashley is able to ensure that
her family will be financially protected in the event of an
untimely death.
"I don't want my husband and children to be left with
a financial burden," said Ashley, a Duke Clinical Research
Institute staff specialist, who purchased a $40,000 policy
for herself. "It's comforting to know that there will be an
extra financial cushion for my family so they won't have to
struggle."
If you are enrolled in supplemental life coverage, you are eligible for the will planning service, which includes will preparation, updating of wills, and consultations about will
preparation. Click here for an overview.
For more information about Duke's Supplemental Life Insurance - including rates, please see the Supplemental Life web site.
Duke offers a special enrollment for supplemental life
insurance every three years. Beginning the end of October through mid-November, Duke faculty and staff may purchase this additional
layer of coverage at a 5 percent rate decrease. For a 42-year-old
non-smoker, the current cost is 77 cents a month for a
$10,000 policy; the new rate starting Jan. 1, 2009, is 73 cents.
There's also a bonus: faculty and staff already enrolled
and those who purchase a policy may receive a will or
update a current will for free with a local attorney
beginning in January. Fees are fully covered for attorneys
within the Hyatt Legal Plans network; if a non-network
attorney is used, reimbursement is available up to $150 for
an individual, $175 for a spousal couple.
"The will service is a valuable new feature since so
many of us do not have wills, and the cost of one can range
from $150 to $300 plus per hour," said Saundra Daniels,
Benefits plan manager.
Supplemental life insurance is part of Duke's flexible
benefits options, providing extra protection on top of the
$10,000 Duke pays to beneficiaries in case of death.
Three years ago, Ashley also purchased the maximum
$10,000 policy for each child — Angel, now 19, and Mark
Jr., 17. Angel suffers from asthma, and Mark
is in his fourth year of remission from leukemia.
"I just thought the policy would be good
to have," Ashley said. "Mark has acute
lymphoblastic leukemia, and it can
come back at any point in his life, but his
chances get better after he hits the five-year
remission mark."
Coverage for children is $1 per month, regardless of the number of
children covered. Daniels said 3,674 children are currently
covered by Duke's Supplemental Life Insurance.
"It's well worth what I pay," Ashley said. "If I had to get
this insurance on my own, I wouldn't be able to get such
low premiums."
— By Elizabeth Michalka
Communications Specialist, Human Resources
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