Life Insurance | Office of Student Health Benefits

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Basic Life: Automatic enrollment for Graduate Medical Education residents and fellows Supplemental Life: Optional for Graduate Medical Education residents and fellows (and dependents)

Enrollment and Change Form
  • Life Insurance Enrollment and Change Form
Life Insurance Information
  • Life Insurance Website
  • Life Insurance Handout
  • Dependent Eligibility Definition
  • Certificate of Coverage
Basic Life and Accidental Death and Dismemberment (AD&D)

The University provides $50,000 of basic group term life and accidental death & dismemberment (AD&D) insurance to all Graduate Medical Education residents and fellows. Enrollment is automatic and coverage is guaranteed.

Supplemental Life and Accidental Death and Dismemberment (AD&D)

You have the opportunity to purchase supplemental life insurance for yourself, your spouse and your children. The amount elected for yourself and your spouse includes a matching AD&D benefit.

Guaranteed Issue Supplemental Life

Specified amounts of coverage do not require evidence of insurability and are guaranteed issue if applied for within 30 days of your start date. You can elect additional employee life insurance in multiples of $5,000, subject to the following limits:

  • Within your first 30 days of eligibility, you may elect up to $50,000 without evidence of insurability.
  • For an amount greater than the guaranteed issue or any time after your initial 30-day eligibility period, application for life insurance requires evidence of insurability. You may apply for a maximum of $300,000.

Note: Your application and evidence of insurability is reviewed by the insurance company’s underwriting department, and they will notify you whether or not the requested amount is approved.

Spouse Life Insurance

You can elect spouse life insurance in multiples of $5,000, subject to the following limits:

  • Within your first 30 days of eligibility or within 30 days of marriage you may elect an amount up to $10,000 without evidence of insurability.
  • For an amount greater than the guaranteed issue or any time after your initial 30 days of eligibility or after 30 days of marriage application for life insurance requires evidence of insurability. You may apply for a maximum of $150,000.
Child Life Insurance

You can elect child life insurance that covers all of your eligible dependent children from live birth up to age 26. Children up to 6 months will receive 10% of the benefit elected.

  • Elect an amount of $5,000 or $10,000 without evidence of insurability within 30 days of eligibility of within 30 days of the birth/adoption of your first child.
  • Evidence of insurability is required for child life when elected outside of your first 30 days of eligibility or after 30 days of the birth/adoption of your first child. You may apply in multiples of $5,000 up to a maximum of $25,000.
Portability and Conversion

Residents and fellows and their dependents are able to continue their basic and supplemental life insurance at the end of their residency or fellowship. Contact LifeBenefits to learn about your portability and conversion options.

Accidental Death & Dismemberment (AD&D) Coverage

The amount of life insurance coverage for residents and fellows and spouses automatically doubles in the event of death by accident. A benefit is also provided for dismemberment that occurs as a result of an accident.

Beneficiary Designation

Life events such as marriage, divorce or the birth/adoption of a child are the time to evaluate life insurance coverage and review or update your beneficiaries.

If you have no named beneficiary, your current beneficiary is “default.” That means Minnesota Life will pay the death benefit in the following order of priority:

  1. your lawful spouse, if living; otherwise,
  2. your natural or legally adopted children in equal shares, if living; otherwise,
  3. your parents in equal shares, if living; otherwise,
  4. the personal representative of your estate.
Additional Benefits

Legal Services with LifeWorks

LifeWorks has established legal forms you can use to create simple wills, financial power of attorney, living wills, or make final arrangements. LifeWorks also provides caring, confidential support for grief, anger, or anxiety and referrals to community resources.

Access the tools at LifeWorks. The user ID is “lfg” and the password is “resources.”

Legacy Planning Services

Active and retired employees covered under the group life program and their families can access resources designed to help them deal with the loss of a loved one or plan for their own death. Sharing your plans with loved ones ensures they are followed after your death. These resources are available at Legacy Planning Services.

Rates

Rates effective July 1, 2020 through June 30, 2021

The rates for supplemental life and AD&D insurance coverage for residents and fellows are automatically deducted on a post-tax basis.

Employer-Paid Life and AD&D Insurance:

Cost

Employee Basic Life: $50,000

Paid by University – no cost to residents/fellows

Rates for Supplemental Life and AD&D Insurance*:

*Rates increase each July 1st to attained age

Age

Rate per pay period, per $5,000 of elected coverage amount

Under 30

$0.12

30-34

$0.14

35-39

$0.18

40-44

$0.30

45-49

$0.48

50-54

$0.76

55-59

$0.95

60-64

$2.47

65-69

$4.02

70+

$10.13

Rates for Supplemental Child Life:

Benefit

Cost per pay period

$5,000

$0.35

$10,000

$0.69

$15,000

$1.04

$20,000

$1.39

$25,000

$1.73

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