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 Financial (MN Life).
Basic Group Term Life and Accidental Death Insurance
The state provides Basic Term Life Insurance ($20,000) and Basic Accidental Death & Dismemberment (AD&D) Insurance ($40,000) to all benefits eligible employees. If you are enrolled in health insurance as the “Head of Contract”, your coverage automatically increases with your salary — to a maximum of $50,000 for Basic Term Life Insurance and $100,000 for Basic Accidental Death & Dismemberment Insurance.
- The premiums for coverage above the amounts provided by the state are deducted from your paycheck.
- The amount of Basic Term Life and Basic AD&D insurance begins to decrease when you reach age 65.
- Dependents enrolled in health insurance have $3,000 of Basic Term Life Insurance.
- Dependents enrolled in health insurance have Basic AD&D Insurance and the amounts are based on your salary and family composition.
Voluntary Accidental Death Insurance
If you would like additional AD&D protection, you may enroll in Voluntary AD&D Insurance for yourself and your dependents. This is in addition to the Basic AD&D coverage.
- Benefit 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.
- The maximum benefit for employees is $60,000.
- You must enroll using ESS in Edison.
- Premiums and coverage level vary by salary.
Voluntary Term Life Insurance
If you qualify, you can purchase additional Voluntary Term Life Insurance coverage for yourself, your spouse and children. You, your dependent spouse and children may enroll in this coverage regardless of whether you enroll in health coverage.
- New hires: 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.
- You can apply 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 ($15,000 for ages 55 and older). Guaranteed Issue is not available for your spouse. The spouse will be required to answer health related questions.
- You can also apply for coverage for your children equal to $5,000 or $10,000.
- To apply, go to lifebenefits.com/stateoftn, fill out the Evidence of Insurability form and fax to Securian Financial (Minnesota Life).
If you are currently enrolled and eligible for a Guaranteed Issue increase, information will be mailed to you prior to the start of the Annual Enrollment Period. If not currently enrolled, you (and/or your spouse) will be required to present Evidence of Insurability by answering health related questions. A Child Term Life Insurance rider may be added to your certificate or your spouse’s certificate without answering any health related questions for the children.
In 2018, an enrolled employee or spouse may only Continue (Port) one-half (1/2) 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. Also, Continuation of Coverage (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.
Keep your life insurance beneficiaries up to date.
In Edison > Main Menu > HCM > Employee Self Service > Benefits > Dependents and Beneficiaries > Life Insurance Beneficiaries
Log in and follow instructions on the Securian Financial (Minnesota Life) website: lifebenefits.com/stateoftn