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Human Resources Services
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Employee Benefits
Benefits For Active Employees
Life Insurance
Employee-Paid Optional Group Life (OGL) Insurance
(Updated 10/16/13)


General Information

Employees appointed to benefits-eligible positions (positions eligible for KPERS, KP&F or the Regents Mandatory Retirement Plan) may elect to purchase optional group life insurance coverage through payroll deduction. Employees that apply within 30 days of their date of hire have guarantee issue of $50,000 without providing proof of good health.

Optional group life enrollment forms are given to new employees during the benefits orientation. The employee must return the form to Minnesota Life Insurance Company at the following address:

Employee Benefits Administration
Minnesota Life Insurance Company
719 S W Van Buren, Suite 200
Topeka, KS 66603-9911

KPERS will notify HRS of the date to start the OGL deductions.

 

Click on the following to get additional information on Optional Group Life Insurance from the KPERS web site:

 

Coverage Amounts & Rate Information

Employees may apply for $5,000 to $250,000 in OGL coverage. Newly hired employees can apply for $50,000 of coverage without providing proof of good health. Employees with a family status change (change in marital status or birth/adoption of child) may enroll or increase coverage by $25,000 without proof of good health within 30 days of the status change event. Employees can start or increase coverage any time during the year with proof of good health. Coverage above the $5,000 minimum must be selected in increments of $1,000 up to $10,000, and in $5,000 units above $10,000.

The group term life insurance plan includes conversion and portability privileges.

OGL will be deducted on the second paycheck of each month. Monthly rates effective January 1, 2011, which are based on age of employee and amount of coverage selected, are as follows:

 

CODE AGE GROUP COST PER THOUSAND ADMINISTRATION FEE
0 Under 25 $.05 / $1,000 $.20
1 25 - 29 $.05 / $1,000 $.20
2 30 - 34 $.07 / $1,000 $.20
3 35 - 39 $.08 / $1,000 $.20
4 40 - 44 $.9 / $1,000 $.20
5 45 - 49 $.13 / $1,000 $.20
6 50 - 54 $.19 / $1,000 $.20
7 55 - 59 $.36 / $1,000 $.20
8 60 - 64 $.55 / $1,000 $.20
9 65 - 69 $1.06 / $1,000 $.20
A 70 - 74 $1.71 / $1,000 $.20
B 75 - 79 $1.85 / $1,000 $.20


The age group is based on the employee's attained age as of January 1.

Benefits are paid to the beneficiary/beneficiaries named by the employee for the employer-paid life insurance.   An employee may not name different beneficiaries for optional group life insurance. Beneficiary/beneficiaries may be changed at any time. Forms are available online or in HRS.

 

Accelerated Death Benefits

If you are diagnosed by a physician as being terminally ill with a life expectancy of 12 months or less, you may request an Accelerated Benefit payment. An Accelerated Benefit is an advance (before death) payment of a part or all of your life insurance benefit. To qualify for an Accelerated Benefit you must 1) be insured for at least $10,000; 2) be terminally ill (life expectancy of 12 months or less) and 3) send proof to Minnesota Life that your life expectancy, because of sickness or accident, is 12 months or less. This must include certification by a physician. Minnesota Life retains the right to have you medically examined at Minnesota Life¼s expense to verify your medical condition.

See your Certificate of Insurance for more details.

 

Termination of Coverage

OGL may be dropped at any time by contacting HRS and completing a KPERS-79 form. Termination of coverage is effective on the first of the following month.

Whole Life - Upon termination of employment or retirement, an employee may convert the life insurance to an individual whole life policy. This conversion must be made within 31 days of termination or retirement, whichever occurs first. This individual policy is sold by Minnesota Life and is not available at group rates. While the cost of this insurance is competitive with other carriers, the primary advantage is that issuance of the policy does not require proof of good health of the former employee. The employee should contact HRS to receive information on converting group life insurance.

Term Life - Upon termination of employment or retirement, if the employee is under age 70, an employee may continue the life insurance to a portable term life policy. The employee is not eligible to continue the term life insurance coverage if not actively at work due to sickness or injury on the day before the termination date. This policy is sold by Minnesota Life. While the cost of this insurance is competitive with other carriers, the primary advantage is that issuance of the policy does not require proof of good health of the former employee. The employee should contact HRS to receive information on portable term life insurance.