Optional Life Insurance

If you work at least 50% of full time, you can purchase additional life and accidental death and dismemberment insurance equal to one, two, three, four, five, six, seven, or eight times(effective 1/1/23) your annual salary, rounded to the next higher $1,000, up to $500,000 (effective 1/1/23).

The combined maximum coverage limit for both Basic and Optional Life Insurance is therefore $550,000.

Optional Life benefits are reduced, beginning at age 70, in the same way as for Basic Life.

You can use Employee Self Service to name or update your beneficiaries and to elect or change coverage.  If you cannot access Employee Self Service, complete parts A, E, and I of the RF Benefits Enrollment Form to name your beneficiaries and complete Part F if you wish to elect or change coverage.

You pay the full cost of coverage, which begins six months after your hire date or eligibility date. The cost of Optional Life insurance depends on the option chosen and the salary and age of the insured.

Note: If you delay enrollment beyond 60 days of your eligibility date, you will be required to complete an Evidence of Insurability Online and have it approved by the insurance company.  Refer to the Benefits Handbook for information on late enrollment.

Instructions to submit an Evidence of Insurability Online

The Optional Life Insurance and Accidental Death & Dismemberment benefits are offered through Securian Life Insurance Company.

For additional information, please refer to the Basic and Optional Term Life Insurance and AD&D Plan Handbook.