Term Life Insurance/ AD &D

Coping with funeral expenses can be a burden for your family. Prepare for it with life insurance.

Types of Coverage

MSU offers choice to ensure your life insurance coverage meets your family needs. Term Life, Accidental death and dismemberment (AD&D), and Universal (whole) Life.

The university provides each full-time employee – faculty and staff – with basic Term life insurance coverage.

  • MOSERS eligible employees: This University paid benefit is the greater of your annual compensation rounded to the next Higher $1,000 or at least $50,000 of coverage if your salary is less than $50,000; up to a maximum amount of $300,000.
  • CURP eligible employees: This University paid benefit is equal to the greater of 2 times your annual compensation plus $50,000 rounded to the next higher $1,000 or 3 times your annual compensation rounded to the higher $1,000 up to a maximum coverage of $300,000.

Additionally, the university provides each employee – faculty and staff – Accidental death and dismemberment (AD&D) coverage, in an amount equal to your basic term life insurance coverage amount.

All benefit-eligible employees may purchase additional, supplemental term life insurance on themselves and dependents. *Additional coverage may be subject to Evidence of Insurability review (EOI). Rates are based on the age of the person being covered.

Cost and coverage

Employee Supplemental term life insurance benefits

Full time MOSERS eligible employees may elect 1,2,3,4 or 5 times your annual compensation up to a maximum benefit of $800,000*

Full time CURP eligible employees may elect 1,2, or 3 times your annual compensation up to a maximum benefit of $800,000*

*Guarantee issue limits exist ($300,000). Maximum coverage amounts may be subject to Evidence of Insurability (EOI) review and acceptance by the insurance carrier.

Premiums

Employee supplemental life insurance rates per $1000 of coverage; monthly. Rates will adjust with age bracket changes and salary increases.

*AD&D and Term life coverage (including Basic and Supplemental) is subject to age reduction provisions. Coverage will reduce to 65% of the initial coverage at age 70; to 50% of the initial coverage at age 75;  to 30% of the initial coverage at age 80.

Age Bracket

Cost per $1,000
Less than age 30 $0.04
30-34 $0.05
35-39 $0.07
40-44 $0.09
45-49 $0.14
50-54 $0.22
55-59 $0.42
60-64 $0.65
65-69 $1.26
70 and older* $1.83

*Basic and supplemental coverage reduces to 65 percent at age 70; to 50 percent at age 75; and to 30 percent at age 80.

Dependent life insurance benefits

Employees may elect dependent coverage from five options. The rates are “bundled” into the coverages listed below. Cost remains the same with or without spouse and/or eligible dependent child(ren).

All Eligible dependent child benefits are guaranteed issue.

Spouse guaranteed issue is $30,000 (option 3), higher coverage amounts will be subject to evidence of insurability review and acceptance by the insurance carrier.

Dependent life insurance rates

Option (Spouse Wage) Insurance Coverage Monthly Cost

Option 1

Spouse: $10,000

Child(ren): $5,000

$2.30

Option 2

Spouse: $20,000

Child(ren): $10,000 $4.60

Option 3

Spouse: $30,000

Child(ren): $20,000 $7.80

Option 4

Spouse: $40,000

Child(ren): $ 20,000

$17.40

Option 5

Spouse: $50,000

Child(ren): $20,000 $27.40

Enrolling and changing

Enrollment in the University provided Basic Term life coverage and AD&D is automatic. You will want to complete beneficiary information.

You may add supplemental term life insurance for you and/ or dependent term life insurance for your spouse or children during within 30 days of your start date, in order to take advantage of guaranteed issue. *Guarantee issue amounts are limited, elections above plan limits will require Evidence of Insurability (EOI) review and approval by the insurance carrier.

Changes outside of your new hire/ new eligibility period may also require EOI review and approval by the insurance carrier. Changes may be made within 31 days after a life status change, if you are currently insured under the voluntary life portion of the policy you may increase your benefit by one benefit level if it does not exceed Guaranteed issue maximums. Other change requests may require Evidence of insurability (EOI) review.

Each year during the Annual Open enrollment period employees and spouses currently insured, under the voluntary/supplemental life insurance may increase the benefit one benefit level, as long as the total benefit does not exceed the Guaranteed issue. Amounts elected above Guaranteed issue will be subject to Evidence of Insurability (EOI) review.

For more information, contact human resources.

Claims Filing

While actively employed, your beneficiary (or you in the case of dependent claim) can simply contact the human resources benefits team to assist in claims filing. If coverage is continued through conversion or portability options after employment ends, you or your beneficiary would need to contact the insurance carrier directly.

Forms and publications

Forms

Publications

Policy 

Contact information

Deidre A. Mings

Deidre A. Mings

Assistant Director, Human Resources - Benefits

Provides full range of HR Benefits management services. Specific responsibilities include health insurance, dental, vision, long term disability, life insurance, FSA, leave and FMLA benefits, and retirement.

Denise Lofton

Responsibilities: Benefits Administration; Wellness Fair; Workers’ Compensation; FMLA Administration; Emergency Paid Leave; Open Enrollment