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Life Insurance

Qualified State and higher education employees are eligible for the following life insurance options. Since this coverage is not available to Local Education and Local Government Plan members, these members should contact their employer to find out if other life insurance is offered.

 

Basic Group Term Life Insurance

The State provides the first $20,000 in coverage at no cost.

Employees who choose State-sponsored health insurance are eligible for higher coverage levels, and they pay the premium costs for coverage over $20,000. The maximum benefit amount is $50,000. In addition, their eligible dependents (spouse and children) are covered for $3,000.

Basic Accidental Death and Dismemberment Insurance

The State provides the first $40,000 in coverage at no cost.

Employees who choose State-sponsored health insurance are eligible for higher coverage levels, and they pay the premium costs for coverage over $40,000. The maximum benefit amount is $100,000. In addition, their dependents (spouse and children) are eligible for basic accident insurance coverage, with the amount based on the employee’s salary and family composition.

Optional Accidental Death and Dismemberment Insurance

Employees can choose optional accident insurance coverage for themselves and their dependents (spouse and children). This is in addition to their basic accidental coverage. They pay the full premium for this coverage. Coverage amount is based on salary and the maximum benefit amount is $60,000 for employees. Coverage amounts for spouse and children are based on salary and family composition.

Optional Universal Life and Term Life Insurance

Employees can choose optional life insurance for themselves and their dependents (spouse and children). They pay the full premium for this coverage. Employees may select coverage up to three times annual base salary, subject to a maximum amount of $300,000. Spouse coverage is available up to a maximum of $30,000. Children may be covered under either a $2,500 or $5,000 term rider.

 

During the Annual Enrollment Transfer Period each year, employees have the opportunity to change their optional coverages.

For more details on life insurance coverage, refer to the applicable member handbook, available through the Benefits Administration website or by request from your agency benefits coordinator.