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. For employees who elect health coverage, the amount of coverage increases as the employee's salary increases, with premiums for coverage above $20,000/$40,000 deducted from the employee's paycheck. The maximum amount of coverage is $50,000 for term life and $100,000 for accidental death and dismemberment. The face amount of coverage declines at ages above 65.
Eligible dependents (spouse and children) of employees enrolled in health coverage are covered for $3,000 of basic dependent term life coverage. Dependents (spouse and children) are eligible for basic accidental insurance, with the amounts of coverage based on salary and family composition.
Contact your agency benefits coordinator to determine your monthly premium.
Optional Accidental Death Insurance
Employees can enroll in optional accidental death and dismemberment insurance coverage for themselves and their dependents (spouse and children). This is in addition to the basic accidental death coverage. Benefits will be paid for dismemberment if the loss occurs within 90 days of the accident, provided the employee or dependent was covered on the date of the accident and meets 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.
Optional Term Life Insurance
If you qualify, you can purchase optional term life insurance coverage from Minnesota Life 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 apply for 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 optional life coverage is not elected at that time, an employee 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 Minnesota Life website to enroll in optional term life insurance.
Additional Enrollment Information
For more details, refer to the member handbook available on the Publications page of this website or by request from your agency benefits coordinator.