Optional Term Life Insurance
This program is available on a contributory basis for employees and dependents (spouse and children) whether or not they participate in health coverage. For guaranteed-issue coverage, the employee must enroll during the first full month of employment with the state. If optional life coverage is not elected at that time, an employee may only enroll during the annual enrollment transfer period by presenting evidence of insurability through a health questionnaire. Premiums are based on age and the amount of coverage requested.
- Premiums are based on age and the amount of coverage requested
- Coverage is also available for spouses and dependent children
- Spouses: maximum level of coverage is $30,000
- Children: $5,000 or $10,000 term rider
- Must enroll in first 30 days of employment for guaranteed issue coverage and coverage is effective after 3 months of employment
- You can apply later during AETP by answering health questions
- Select up to 5 times your annual base salary when first eligible
- Minimum coverage level: $5,000
- Maximum coverage level: $500,000
The Minnesota Life Optional Life Insurance Handbook will provide you with additional details about the available plans.
To enroll and calculate monthly premium, visit the Minnesota Life website.
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