Life Insurance for Part-Time Employees
Life insurance provides financial protection to your survivors in the event of your death. Life and Accidental Death and Dismemberment Insurance is provided through Minnesota Life in 2007. The 2008 Life and AD&D provider will be MetLife. Imputed Income will apply to Basic Life Insurance coverage in excess of $50,000.
|
Option |
Cost/Month |
Benefit |
How to Enroll |
|
Basic Life Insurance |
none |
one times your annual salary or $10,000 - whichever is greater |
Automatically enrolled. |
|
Supplemental |
20 cents per $10,000 of AD&D Coverage |
$20,000 through $250,000 in increments of $10,000 (Amounts above $150,000 cannot exceed 10 times your annual salary) |
Choose it during Open Enrollment or when you experience a Status Change. |
Accidental Death and Dismemberment (AD&D)
You may purchase AD&D coverage. This insurance coverage would pay a financial benefit to your beneficiaries if you die as a result of an accident. If an accident results in the loss of a limb or certain vital functions, you would receive a financial benefit according to a schedule.
For more information:
- MetLife MyBenefits website
- MetLife Beneficiary Designation Form (.doc)
- MetLife Statement of Health Form (.pdf)
- 2008 Benefits Workbook for Part-Time Employees (.pdf) - for more information about rates
- Use HR Connection to update your Beneficiary Designation.