Harvard offers the three life insurance programs:
- Basic and Contributory Life Insurance
- Business Travel Insurance
- Long Term Care Insurance
Basic and Contributory Life Insurance
Harvard pays the full cost of Basic Life insurance equal to half an employee’s annual salary rounded to the nearest $1,000. There is no
need to enroll in Basic Life Insurance; employees are automatically covered once they become eligible. Employees must enroll
Contributory Life Insurance is also available. Employees pay the full cost. Coverage is available for up to five times the employee’s
annual salary in addition to the basic benefit.
Pre-death life Insurance benefit
Harvard’s life insurance program allows employees who become terminally ill to receive an accelerated benefit, which is up to 50 percent of their total life insurance coverage. This benefit is designed to assist employees with illness, care, and their funeral
arrangements, as well as settling of personal affairs.
Business Travel Insurance
Harvard pays the full cost of business travel coverage equal to five times the annual salary. Benefits are payable to employees if
they die, suffer a serious bodily injury, or become disabled as the result of an accident that occurs while traveling on
Long-Term Care Insurance
Harvard offers optional Group Long-Term Care Insurance, through Genworth Life Insurance Company to help pay for the cost of a nursing home stay
or at-home nursing care, should employees or insured members of their family become unable to perform basic daily activities of living
due to a chronic illness or physical or cognitive disability.
Employees pay the full cost. Employees, their spouses/partners and other members of their family may apply.