Standard Group Term Life Policy
The State offers a group term life insurance policy with a benefit that is two times your annual base salary, rounded down to the nearest $100.
Example:
Annual salary = $25,319 x 2 = $50,638
Life Insurance benefit = $50,600.
The Accidental Death and Dismemberment (AD&D) benefit is an additional two times your annual salary if you die as a result of an accident, or $101,200 in the example above. The plan benefit also pays benefits for various types of dismemberment due to an accidental injury.
Cost
Employees pay 25% of the premium. The State pays 75% of the premium.
Eligibility and Enrollment
All classified and exempt employees who are expected to work 1,040 per year are eligible for coverage. Temporary employees are not eligible for coverage.
As of 10/2016 enrollment for new employees is automatic and takes effect 30 days after the date of hire. Employees wishing to waive coverage must submit the waiver form (see forms section below) within 30 days of their date of hire. Coverage may be cancelled at any time after that, but premiums already deducted will not be refunded.
For employees hired before 07/2016 who did not enroll in life insurance or participate in the 2016 open enrollment, you may still apply for coverage by submitting the life insurance application form along with the Evidence of Insurability form (see forms section below). All forms should be emailed to DHR Benefits, or mailed to the address noted at the bottom of this page.
Supplemental Term Life Policies
Following activation of the basic plan, employees have a 60-day open enrollment for guaranteed issues of supplemental coverage for yourself, your spouse and/or your dependent child(ren). Your cost for this coverage is based on the amount you elect and your age. You must purchase voluntary life insurance for yourself in order to purchase for your spouse and/or your dependent child(ren). A guaranteed amount is the amount of coverage you will receive regardless of your health status, age or income if you elect the coverage during your initial eligibility period.
Evidence of Insurability Terms: Enrolling in supplemental life and AD&D when you’re first eligible will benefit you in the long run. Employees who enroll at a later time are subject to the medical underwriting process (also referred to as Evidence of Insurability or EOI, which requires the submission of medical information). Insurance companies will use this process to determine the price, limits or exclusions of coverage based on your current health status.
- Employee Supplemental Term Life - This is additional coverage on the employee's own life up to 8x their annual salary, to a maximum of $1,000,000.
- Spouse/Domestic Partner Term Life - This is coverage purchased in $10,000 increments, up to a total of $250,000, for a spouse or domestic partner.
- Child Term Life - This is coverage purchased in $5,000 increments, up to a total of $20,000 per child.
Eligibility
- This benefit is available to classified and exempt employees who are expected to work at least 1,040 hours/year (20 hrs/week).
- Prior enrollment in the basic group term life policy (described below) is a prerequisite for enrollment in the supplemental plans.
- Newly hired employees will not be eligible until their basic life plan activates, 30 days after their date of hire.
Enrollments for the Supplemental Insurance coverage is processed exclusively through Minnesota Life/Securian and paid for via payroll deduction.
For more information, visit Securian/State of VT Supplemental Life Benefits
To enroll, register/login to your Securian Life Benefits Portal
For active employees:
Your User ID is: VT + your 5-digit Employee ID# (ex: VT00000)
Your Initial Password is: Your 8-digit date of birth and the last 4 digits of your Social Security Number (ex:071820220000)
For Log-in Questions: 866-293-6047
Coverage Termination
When employment terminates, the group life insurance policy also terminates, but employees may be able to continue life insurance protection through a conversion privilege. Further information can be found in the Life Insurance Conversion Form found by clicking the Forms and Documents icon at the bottom of this screen.
Retirement Coverage
When an employee carrying life insurance coverage retires with no break in service between active employment and retirement, a $10,000 paid-up life insurancy policy is provided if the employee retirees with a minimum of 20 years of creditable service in the retirement system and if the employee is covered by life insurance at the time of termination.
LifeSuite Services
Coverage also includes the following package of services, available to employees and beneficiaries at no additional cost:
- Travel Assistance Services: Emergency assistance and transport when traveling 100 or more miles away from home
- Legal, Financial and Grief Resources: Access to counseling professionals and related resources
- Legacy Planning Resources: Access to resources to help families deal with the loss of a loved one, or to plan for their own passing
- Beneficiary Financial Counseling: Independent and objective financial counseling available to beneficiaries who receive proceeds of $25,000 or more
Please see the LifeSuite Services (pdf) brochure for additional details and contact information.
Administrator
Minnesota Life insurance Company (An affiliate of Securian Financial Group)
400 Robert Street North
St. Paul, MN 55101-2098
Main number: (800) 843-8358
No beneficiary information is collected or recorded in the State of Vermont's system.
For beneficiary-related questions, call Minnesota Life at: (866) 293-6047 or check beneficiaries online at LifeBenefits (Active Employees Only)
User ID:
Active Employees: VT+your 5-digit employee ID# (ex: VT00000)
Retired Employees: VT+ your 12-digit retiree number
Initial Password = your eight digit date of birth and the last 4 digits of your Social Security Number (ex: 103120180000)
For Questions: 866-293-6047
Submitting Claims
The Employee Benefits Unit submits all life insurance claims electronically as soon as an original death certificate is received (photocopies cannot be accepted).
For Active Employee deaths submit the certificate directly to: State of Vermont, DHR-Benefits, 120 State Street, Montpelier, VT 05620-2505
For Retired Employee deaths, submit the certificate directly to: Office of the State Treasurer, Retirement Office, 109 State Street, Montpelier, VT 05609
The Retirement Office will forward the certificate to DHR-Benefits.
You may check on the status of claims by calling Minnesota Life at 888-658-0193.
Minnesota Life