Life Insurance - State Plan Only
(State and higher education employees)
Qualified state and higher education employees are eligible for the life insurance options below. This coverage is not available to local education and local government employees. Life insurance benefits provide financial support for family members and are administered by Securian Financial (Minnesota Life Insurance Company).
Securian Financial (Minnesota Life)
866.881.0631
Monday-Friday, 7 a.m. to 6 p.m. CT
securian.com/tn-insurance
Life Insurance benefits are changing
Find the full list of 2023 life insurance premiums: Click on Premiums and go to Life Insurance Premiums – State Plan Only.
Basic Group Term Life and Accidental Death and Dismemberment Insurance
All benefits-eligible employees receive $20,000 in basic term life insurance and $40,000 in basic accidental death and dismemberment insurance paid by the state at no cost to the employee. The amounts are subject to change during each annual legislative session.
IMPORTANT! For all eligible employees, basic term life insurance coverage will be 1.5 times the employee’s base annual salary as of Sept. 1 of each year, even if the employee is not enrolled in health insurance, to a maximum of $50,000.
The calculation to determine the employee’s level of basic term life insurance coverage will be rounded up to the next $1,000. For example, if the result of calculating 1.5 times the employee’s annual salary is $40,125, the result will be rounded up to $41,000 of basic term life coverage. The basic AD&D coverage will continue to be two times the basic term life coverage, up to $100,000.
· Employees pay the monthly premium on any additional coverage above the state paid amounts of $20,000 for basic term life and $40,000 for basic AD&D and for all dependent coverage.
IMPORTANT! Employees can opt out of the employee-paid basic term life insurance coverage over $20,000 and basic AD&D coverage over $40,000 along with dependent coverage. To do this the employee MUST make this selection in Edison during Annual Enrollment.
· Important! This is a permanent choice. Employees should make this decision with caution. Employees who opt out of this additional coverage may not re-enroll in the employee-paid coverage (the amount above what the state pays) and dependent coverage unless they later have a qualifying event.
Employees will be able to add and remove eligible dependents for enrollment in the basic dependent term life/basic AD&D insurance. Dependents do not have to be enrolled in health insurance to qualify for this coverage. If an employee wants to add or remove dependents from this coverage, the change must be made in Edison during Annual Enrollment.
· Premium rates for dependents in 2023 are based upon total volume of coverage, instead of per family unit. The employee’s actual premiums will increase or decrease if the volume of coverage changes.
· The premiums for coverage above the amounts provided by the state and for dependent coverage are deducted from the employee’s paycheck.
· If an employee’s salary goes up as of Sept. 1, 2023, compared to Sept. 1, 2022, the employee’s monthly premium will increase as of Oct. 2023.
· At ages 65 and over, employee basic term life/basic AD&D coverage amounts will reduce.
· Dependents enrolled in basic term life insurance/basic AD&D have $3,000 of basic term life insurance coverage and basic AD&D coverage based on a percentage of the employee’s basic AD&D coverage. The employee pays monthly premiums for the dependent(s) coverage.
· Basic dependent term life insurance has three coverage levels available: employee + spouse, employee + child(ren) or employee + spouse + child(ren).
· Employees will make important selections and keep beneficiary information current in Edison.
· LifeSuite Services, a value-added benefit, is provided by Securian Financial for no additional charge. Services and resources include:
1. Travel Assistance Services
2. Legacy Planning Services
3. Beneficiary Financial Counseling
You can refer to the Securian (MN Life) Handbook found on the Publications page under Life Insurance and/or the Securian Financial website for additional information.
Voluntary Accidental Death and Dismemberment Insurance
Employees: You can buy voluntary AD&D insurance to give additional protection if the employee or employee’s covered dependent’s death or dismemberment is due to an accident. This is in addition to the basic AD&D coverage. The employee will pay the full monthly premiums. Enroll and keep the beneficiary information current in Edison.
· Employee coverage in 2023 is a coverage level based on salary to a choice of these five amounts: $50,000, $60,000, $100,000, $250,000 or $500,000.
· Dependent enrollment in 2023 is on a coverage tier basis [spouse only, spouse + child(ren), or child(ren) only] instead of generic family coverage. Dependents may be removed or added for this coverage via Edison ESS.
· Dependent voluntary AD&D coverage is based on a percentage of the employee’s voluntary AD&D coverage.
· Dependent premium rates is per $1,000 of total dependent coverage, instead of per family unit.
· Benefits will be paid for dismemberment if the loss occurs within 180 days of the accident, provided the employee or dependent was covered on the date of the accident and met the established criteria. Accident could occur at work or elsewhere.
· Coverage is available at low group rates, no questions asked.
· Premiums will be for the coverage level the employee selects.
Additional benefits include:
· Adaptive home and vehicle
· Coma
· Repatriation
Find more information on the Publications page under Life Insurance.
Voluntary Term Life Insurance
If qualified, employees can buy additional voluntary term life insurance. Enrollment is not automatic. An employee must apply for this coverage. This coverage is available regardless of whether the employee or dependents enroll in health coverage. The employee’s spouse may also apply for enrollment in this coverage even if the employee does not enroll. A child term rider may be added to the employee’s or spouse’s certificate, but not to both. If the employee’s spouse is also a state employee, the spouse must apply for coverage as an employee, not as the other employee’s spouse.
· New hires: Guaranteed issue coverage with no medical questions asked for an employee is available if the employee enrolls during the first 30 calendar days of employment. Coverage will become effective on the first day of the month following completion of three full calendar months of eligible employment. If coverage is not elected during this time, an employee may apply during the annual enrollment period by presenting evidence of insurability through a health questionnaire.
· Newly eligible spouses can enroll within 30 days of first becoming eligible in $5,000 of coverage without answering medical questions (guaranteed issue). This does not apply to current spouses.
· The employee or spouse's monthly premium will go up if the voluntary term life insurance amount is increased or the employee or spouse moves into a higher age bracket as of Jan. 1.
· Find coverage options and plan highlights on the Publications page under Life Insurance.
· To apply, go to lifebenefits.com/stateoftn.
· Beneficiaries for voluntary term life coverage can be updated after logging in at lifebenefits.com/statoftn
During Annual Enrollment, currently enrolled employees who are eligible for a guaranteed issue increase of $5,000 will receive a notice from Securian mailed prior to the start of the annual enrollment period. If not currently enrolled, an employee and/or spouse will be required to present evidence of insurability by answering health questions when applying. A child term life insurance rider may be added to an enrolled employee or spouse’s certificate without answering any health questions.
Additional information
For more details, refer to the member handbook available on the Publications page. Premium information is available at https://www.tn.gov/partnersforhealth/insurance-premiums.html under Life Insurance. For Securian Financial (Minnesota Life) go to securian.com/tn-insurance or call 866.881.0631.
For basic term life/basic AD&D and voluntary AD&D insurance, make changes online in Edison:
· Basic term, accidental death and dismemberment and voluntary AD&D – In Edison > Main Menu > HCM > Employee Self Service > Benefits > Dependents and Beneficiaries > Life Insurance Beneficiaries
Review and keep your voluntary term life insurance beneficiaries current with Securian Financial:
· Log in and follow instructions on the Securian Financial (Minnesota Life) website: lifebenefits.com/stateoftn
Determine voluntary term life insurance needs
Securian Financial has an online web tool, Benefit Scout, to help an employee estimate the amount of voluntary term life insurance that may be needed. Find it at lifebenefits.com/stateoftn.
Continuing Life Insurance When Employment Ends
Basic Term Life
When employment ends due to retirement or termination, the basic term life coverage for the employee and enrolled dependents may be converted to individual life insurance policies. Premiums may be higher than those paid by active employees. Conversion of coverage is not available if the reason for the cancellation of coverage was due to non-payment of premiums.
Voluntary Term Life
An enrolled employee or spouse may continue one-half of the voluntary term life insurance coverage he or she had at the time of leaving active employment due to retirement or termination. The minimum amount of continued coverage is $5,000 and the maximum amount is $250,000. Continuation of coverage is not available if the reason for the cancellation of coverage was due to non-payment of premiums. Continuation of coverage, or portability, is only available to an employee or spouse under the age of 70. If 70 or over, conversion to an individual policy is available.
Accidental Death and Dismemberment
The basic AD&D and voluntary AD&D coverage may not be converted or continued after employment ends.
NOTE: A complete description of the benefits, provisions, conditions, limitations, and exclusions for the basic term life/AD&D, voluntary AD&D and voluntary term life plans will be included in their respective certificates of insurance. If any discrepancies exist between the information listed above and the certificates of insurance, the certificates of insurance will govern. We recommend you review these