ISU Plan Life Insurance


  • Faculty, Professional & Scientific and Merit employees with an appointment of 1/2 time or greater.

    Note: Pre/Post Doctoral Associates are not eligible.

Eligible employees may either elect or waive the Life Insurance coverage.

  • New hire
    • Coverage is effective on the first day of the month coinciding with or following the date of employment, provided you enroll by your assigned deadline.
  • Annual Open Change Period
    • If you previously waived coverage, you may apply for the coverage during the open change period.
    • You will be required to complete a Principal Statement of Health Questionnaire to apply for coverage.
    • If approved by the underwriting, coverage will begin on the date determined by Principal Financial Group..

Certificate of Coverage

ISU pays 100% of the share for the Group Term Basic Life Insurance.

  • Benefit over $50,000 is taxable
  • Term life insurance and thus does not provide for a cash surrender value.
  • Two group life options to choose from:
    • Two(2) times your University annual budgeted salary rounded to the nearest $1,000 (capped at $250,000)
    • $50,000 policy
  • There is waiver of continued premium payments in the event of total disability.
    • Value at the time of disability will continue until January 1st following your 65th birthday.
    • Value will continue reduced by 65% until you no longer meet the definition of disability or when you turn age 70, whichever occurs first.
    • No benefits will be paid for any disability that results from willful self-injury, self-destruction, while sane or insane/war or act of war/voluntary participation in an assult, felony, criminal activity, insurrection or riot.
  • Employees who continue active employment after age 65 will have benefits reduced to 65% of scheduled benefit on January 1st following your 65th birthdate. The premium cost will be reduced accordingly.
  • Retiree Life Insurance coverage of $4,000 if retired prior to July 1, 2021;  must be enrolled for 10 consecutive years immediately preceding retirement. 
  • The group term basic life insurance policy is not a portable plan. Terminating employees are offered a conversion application.

If you cease active work because you are totally disabled, you might qualify to continue your member life insurance. This continuation is called coverage during disability. The qualifications are indicated in the Summary Plan Document.

An accelerated benefit is an advance (before death) payment of a part of your member life insurance benefit. For qualifications see the Summary Plan Document/Group Life Insurance Booklet-Certificate.

If electing coverage, primary and contingent beneficiaries should be listed on the Principal Beneficiary Designation/Change Form. The beneficiary change form must be returned to UHR Service Center. Do not send to Principal Financial Group. The beneficiaries you designate for your Group Term Basic Life coverage will be the beneficiaries for your Voluntary Term Life Insurance unless you designate different beneficiaries for your Voluntary Term Life Insurance.

If you list more than one primary beneficiary, the payable benefits will be divided between the named beneficiaries as you specify. Contingent beneficiaries receive benefits only if all primary beneficiaries are deceased. If any beneficiaries are minors, under age 21 according to the Iowa Uniform Transfers to Minors Act, a custodian for such beneficiary must be named on the Principal Beneficiary Designation/Change Form for the proceeds to be payable to the beneficiary. If a custodian is not named, the funds may be paid out to whomever has assumed guardianship of the minor(s) or may remain in an annuity with Principal Financial Group until the child reaches age 21.

Beneficiary Designation/Change Form



If your employment with ISU ends, there may be options to continue your group life insurance policy directly with Principal.   Portability and Conversion