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Life Insurance

Group life insurance, with accidental death and dismemberment coverage, is available. The Board of Regents pays the premium on the first $25,000 of such insurance.
Additional life coverage is available with the employee paying the total cost.  
 
An employee may select Supplemental Life coverage up to 8 times his/her annual salary up to $2.5 million. Newly eligible employees may elect the lesser of three times annual salary or $500,000 guaranteed without EOI (Evidence of Insurability) if elected within 31 days of eligibility.
 
Employees may also elect to provide coverage for a spouse or children with supplement dependent coverage.  Spousal coverage can be from $10,000 to $500,000.  Newly eligible employees can choose up to $50,000 without EOI if elected within 31 days of eligibility. 
 
Coverage for children can be $5,000, $10,000, or $15,000 for each child up to the age of 26.
 
Additionally, employees may elect voluntary AD&D coverage from $10,000 to $500,000.

 

Minnesota Life Benefits Overview

 

 

Page last updated: January 12, 2014