Additional Life Insurance
Employees who are already covered by the University’s basic life insurance program are eligible to choose additional coverage within their first 30 days of employment without evidence of insurability also called ‘proof of good health.’
If you’re unsure if group term life insurance is right for you, take a few minutes to watch this video to learn more.
Having more life insurance coverage may be important to you if you have a spouse and children who depend on your financial support. For additional guidance on how much coverage you need for your situation, visit LifeBenefits.com/UMN and check out Benefit Scout™, an online decision support tool.
- Benefit Scout
- Additional Employee Life
- Spouse Life
- Child Life
- Accidental Death & Dismemberment (AD&D)
- Rates per Biweekly Pay Period
- Plan Details
Not sure how much additional life insurance you may need? Use Securian Financial’s online benefits decision tool, Benefit Scout™, to learn more about your life insurance benefits and options. By answering a few simple questions, you can determine the coverage that meets your needs and budget. Visit LifeBenefits.com/UMN to make your life insurance elections with confidence.
You can choose Additional Employee Life Insurance in multiples of $1,000, subject to the following limits:
- Within your first 30 days of employment without evidence of insurability, you may select an amount equal to the lesser of either:
- Three times your annual covered compensation rounded to the next $1,000, or
- For an amount greater than the guaranteed issue or after your initial enrollment period, application requires evidence of insurability. That means you must provide information on your health condition. You may apply for a maximum amount of either:
- $500,000, or
- If greater, five times your annual covered compensation rounded to the next $1,000 but not more than $1 million
For life insurance purposes, covered compensation includes base salary, augmentation, increment, commutation, Regents’ Professor Stipend and Duluth additional instruction. All other earnings are excluded.
Note: The insurance company’s underwriting department will review your application and evidence of insurability. They will notify you whether or not the requested amount is approved.
You can choose Spouse Life Insurance in multiples of $1,000, subject to the following limits:
- Select an amount up to $25,000 without evidence of insurability either within your first 30 days of employment or within 30 days of marriage.
- You may apply for a maximum amount of $500,000 with evidence of insurability.
- Evidence of insurability in which you provide information on your spouse’s health condition is required for any amount elected outside of your first 30 days of employment or after 30 days of marriage.
- If your spouse works for the University, they are not eligible to be insured as your dependent spouse on your Spouse Life Insurance.
You can choose Child Life Insurance that covers each eligible child, from live birth to age 26, for $10,000 of coverage:
- Select Child Life without evidence of insurability either within your first 30 days of employment or within 30 days of the birth or adoption of your child.
- Child life Insurance can be selected during Open Enrollment without evidence of insurability.
- Your first eligible newborn child is automatically covered for Child Life Insurance for 30 days from the child's birth. To continue coverage on the first child, you must elect Child Life coverage within those 30 days; otherwise the coverage shall terminate at the end of the 30 day period.
This coverage provides beneficiaries with additional financial protection if an insured’s death or dismemberment is due to a covered accident, whether it occurs at work or elsewhere. It is included as part of your employee and spouse life insurance.
If you have a 50% to 74% time appointment, you must first purchase Basic Employee Life before you can buy additional life insurance.
If you are within your first 30 days of employment or within 30 days of a life event that allows you to make a change in life insurance, you may apply online in MyU for the appropriate amounts that do not require underwriting.
To apply for additional amounts:
- above the guarantee issue amount,
- at any time, or
- more than 30 days after a life event such as marriage or birth or adoption of a child,
you need to provide “evidence of insurability,” in which you provide information on your health condition. The insurance company’s underwriting department will review the information and let you know whether or not it is approved.
Print and complete the application form below, and Employee Benefits will send the application to Securian. You will receive a password from Securian so that you can complete the evidence of insurability about your health condition directly on their online system.
Download an Application (pdf)
Note: You can add coverage for your spouse or child within 30 days due to a life event, but you must submit evidence of insurability to increase additional employee life.
Making a Coverage Change
You may decrease the amount of coverage or cancel coverage at open enrollment or a qualifying life event.
If you wish to enroll again or increase the amount of coverage at a later date, you will need to provide medical evidence of insurability (proof of good health).
Additional Life Insurance Rates per Biweekly
2020 Employee or Spouse
|Attained age of employee or spouse||Rate Per $1,000|
Child Life Rate
The rate per biweekly pay period is $0.42 for $10,000 of coverage.
If coverage is lost due to resignation, termination of employment, layoff, or loss of eligibility due to reduction in hours, you may continue your coverage at group rates for up to 18 months. You need to make the election within 31 days of the date your active coverage terminates. Rates may be higher than those paid by active employees.
Portability and Conversion
If you are no longer eligible for coverage, and you want to continue your life insurance, you have two options:
- you may “port” or continue your group term life insurance coverage (portable coverage ends at age 70), or
- you may convert your life coverage to an individual life insurance policy.
You need to make the election within 31 days of the date your active coverage terminates.
Premiums may be higher than those paid by active employees. Please call Securian at 1-866-293-6047 to discuss your options and costs.
Waiver of Premium
If you become totally disabled according to the terms of your certificate, life insurance premiums may be waived.