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Life Insurance (State Plan only)
Qualified state and higher education employees are eligible for the following life insurance options. This coverage is not available to local education and local government employees. Life insurance benefits are administered by Securian (MN Life).
Basic Group Term Life and Accidental Death Insurance
The state provides, at no cost to employees, $20,000 of basic term life and $40,000 of basic accidental death coverage. If you are enrolled in health coverage as the head of contract, the amount of coverage increases as your salary increases — to a maximum of $50,000 for basic term life and $100,000 for accidental death insurance. The premiums for coverage above the amounts provided by the state are deducted from your paycheck. The amount of coverage begins to decrease when you reach age 65.
If you are enrolled in health coverage, your eligible dependents (spouse and children) are covered for $3,000 of basic dependent term life coverage. Dependents are eligible for basic accidental insurance, with the amounts of coverage based on your salary and family composition.
Voluntary Accidental Death and Dismemberment Insurance
You can enroll in voluntary accidental death and dismemberment insurance coverage for yourself and your dependents. This is in addition to basic accidental coverage. Benefits will be paid for dismemberment if the loss occurs within 90 days of the accident, provided you or your dependent was covered on the date of the accident and meet the established criteria. Coverage is available at low group rates — no questions asked. Premiums vary by salary and the maximum benefit for employees is $60,000.
Voluntary Term Life Insurance
If you qualify, you can purchase voluntary term life insurance coverage for yourself and your dependent spouse and children. You can apply in $5,000 increments, for up to seven times your annual base salary (to a maximum of $500,000) for yourself and up to a maximum of $30,000 for your spouse under 55 ($15,000 for ages 55 and older). You can also add coverage for your children equal to $5,000 or $10,000.
You and your dependent spouse and children may enroll in this coverage regardless of whether you enroll in health coverage. For employee guaranteed issue coverage, you must enroll during the first 31 calendar days of employment. If coverage is not elected at that time, you may apply during the annual enrollment period by presenting evidence of insurability through a health questionnaire.
An application for spouse coverage may be submitted; however, issuance of coverage will be contingent upon review of health questions by the vendor. A child term rider may be added to the employee or spouse certificate without any health questions. Use the Securian website to enroll.
For more details, refer to the member handbook, available through the Benefits Administration website. Your agency benefits coordinator can provide premium information.
Basic term, AD&D and voluntary AD&D
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Voluntary term life
Log in and follow instructions on the Securian (MN Life) website