Life, AD&D, and Critical Ill Insurance
We provide you with coverage to help protect your family’s income against the unexpected.
Basic life insurance and accident coverage is provided to you at no cost. Beyond that, you have options to increase your coverage and financial security for your family in the event of death.
Coverage for newly eligible employees:
- Basic life and AD&D - You’ll receive life and AD&D insurance equal to $25,000 at no cost to you.
- Supplemental life insurance - You can buy additional life insurance coverage from one to eight times your salary, up to a maximum of $2.5 million. The lesser of 3x your annual salary or $500,000 is guaranteed without you providing any Evidence of Insurability (EOI).
- Dependent coverage - You can buy life insurance coverage for your dependents, too. You can choose to cover either your spouse or children or both.
- Spouse coverage options are available in amounts from $10,000 to $500,000. Your spouse will need to show proof of good health for amounts over $50,000.
- Child(ren) coverage options are available in the amounts of $5,000, $10,000, or $15,000. No EOI is required.
Note: An increase or election of spouse life will always require an EOI unless you are new eligible and elect $50,000 or less within 31 days of your eligibility date.
Minnesota Life - LifeSuite Resources
You pay no additional premiums to access the following services:
- Beneficiary Financial Counseling– Beneficiaries who receive at least $25,000 in policy benefits may choose to use independent beneficiary counseling services from Price Waterhouse Coopers LLP.
- Travel Assistance Services – Global Rescue provides travel assistance services to all active U.S. employees covered under the group life insurance program and their spouses and dependents. For more information, including program terms and conditions, visit LifeBenefits.com/travel or call 1-855-516-5433 in the U.S. and Canada. From other locations, you can call collect to +1-617-426-6603.
- Legal Services – Ceridian provides employees and their dependents telephone access to a national network of 22,000+ accredited attorneys for consultation on simple wills, estate planning documents and other legal issues. Discounts are available for participating attorneys. Contact Ceridian at 1-877-849-6034 or visit LifeWorks.com (user name: will password: preparation).
- Legacy Planning Services – Active and retired employees, spouses and dependents can access resources designed to help individuals and families work through end-of-life issues when dealing with the loss of a loved one or planning for their own passing. These resources are available at LegacyPlanningServices.com.
Accidental Death and Dismemberment (AD&D)
You can buy supplemental AD&D insurance in amounts of $10,000 to $500,000.
For more information on this benefit and the rates for coverage, check out this Life insurance at-a-glance overview.
Critical Ill Insurance – New for 2014
Critical Illness Insurance can help cover the extra expenses associated with a serious illness. This coverage provides you with a lump sum payment. Payments may be used to help pay for expenses generally not covered by medical and disability income coverage. Plus, the payment(s) will be made directly to you, not to the doctors, hospitals or other health care providers. You will receive a check, mailed directly to your home.
Term Life and AD&D
|Whole Life Insurance