Learn How Group Universal

Life Insurance Can Help

Give Your Family Peace

Of Mind. . .

You can only participate, without evidence of insurability, in the following group benefit during your 90 day open enrolment period that starts 90 days after your hire date. If you do not enroll during your 90 day open enrollment period you will have to provide evidence of insurability to participate in the following group benefit.

You can fill out an application and send it to College Benefits Group, LLC before your open enrollment period begins, but your benefits eligibility will only start during your open enrollment period.

College Benefits Group, LLC • P.O. Box 522, Storrs, CT 06268
Charles Dyson • (860) 429-9000 • charles@collegebenefitsgroup.com


What is Group Universal Life?

Aetna’s Group Universal Life (GUL) is term insurance—that is, low-cost life insurance protection. But unlike other term insurance plans that have no cash values, you have the option of changing the plan from protection-only to a plan with cash values. You do so by choosing to put as little as an additional one dollar biweekly into the cash accumulation fund that pays 4% tax deferred. You may do this now or later, and you may increase, decrease or stop the extra payments whenever you wish. 

Your spouse may enroll, even if you do not. You may insure a dependent child or children for $10,000 with a biweekly premium of 92 cents that covers all. You may also add an accidental death benefit equal to your basic life insurance plan that doubles your coverage if you die due to a covered accident. Cost of the accidental death benefit is 23 cents biweekly per $10,000.

Rates and more information on the GUL plan are in the brochure attached to this webpage, provided by College Benefits Group, LLC, and not Aetna. Please read the brochure carefully. Your certificate of coverage, and not this brochure, governs the plan and describes it in detail. You may obtain a copy of Aetna’s life insurance certificate by calling College Benefits Group, LLC. 

How to Enroll

1. Decide on how much life insurance you need. There is a worksheet you can use in your GUL enrollment brochure on page 6 of the brochure. You may purchase three times your annual salary with no health questions during the enrollment period, and a maximum of five times your salary by providing Aetna with evidence of insurability. Many experts feel that an employee with a family should have about five times salary, or more, in life insurance. Go to www.lifehappens.org for an on-line evaluation of your needs. This affordable GUL plan helps you meet your goals.

2. Decide if your spouse/domestic partner wishes to enroll (even if you don’t). Coverage is available up to three times the employee’s salary ($100,000 maximum). $50,000 is available with no evidence of insurability during the enrollment period.

3. Do you want the Automatic Increase Option?  When you get a raise, your life insurance automatically increases by the same percent (employees only). This keeps your life insurance in line with your future salary. Most employees elect this option because they can always cancel it later.

4. Do you want the accidental death benefit? This benefit pays an additional amount equal to your basic amount if you should die accidentally.

5. Do you want to insure your dependent children?  (Available on your plan or on spouse-only coverage.)

6. Do you want to participate in the Cash Accumulation Fund?  You create a tax deferred savings fund earning 4% interest that you can withdraw at any time. See the maximum you can contribute on page 7 of this brochure.

That’s it!

Just complete the application (and the health questionnaire, if applicable) and return to College Benefits Group, LLC, PO Box 522, Storrs, CT  06268.  Phone us at (860) 429-9000 in Storrs if you have any questions.