Life and AD&D Insurance
Life and Accidental Death and Dismemberment (AD&D) insurance, through Minnesota Life Insurance
Company/Securian Financial, provides financial security to you and your family if you pass away or become seriously injured.
Basic Life and AD&D Insurance
As an eligible employee, you receive Basic Life and AD&D insurance equal to one times your annual earnings
to a maximum of $250,000. Basic Life and AD&D is provided by the State of Colorado at no cost to you.
Voluntary Life and AD&D Insurance
In addition to Basic Life and AD&D, you may buy voluntary Life and AD&D coverage at discounted rates.
| Benefit Features | Voluntary Life and AD&D Options* | |||||
|---|---|---|---|---|---|---|
| Employee | Spouse | Dependent Child(ren) | ||||
| Coverage Options | Increments of $10,000 | Increments of $10,000 | Increments of $5,000 | |||
| Maximum | $500,000 | $250,000 (cannot exceed 50% of employee’s coverage) |
$10,000 (cannot exceed 50% of employee’s coverage) |
|||
| Guaranteed Issue Period | Within 31 days of new hire eligibility or a family status change | |||||
*Evidence of Insurability (EOI) may be required.
Enrollment and EOI
Evidence of Insurability (EOI) may be required. EOI is completed at www.benefitsolver.com and must be completed when
you or your spouse apply for new coverage or increase coverage outside your new hire enrollment and during open enrollment.
How Much Voluntary Life and AD&D Insurance Should I Buy?
When deciding how much voluntary Life and AD&D coverage to buy, consider the following:
- How much will your dependents need to pay debts?
- How much do your dependents need to maintain their current standard of living?
- What kind of future would you like to provide for your dependents or others who depend on you for financial support?
Choosing a Beneficiary
You may choose anyone to be the beneficiary of your Life and AD&D policy in the event of your death or serious injury. Review
your beneficiary designation periodically to ensure it reflects your current wishes. You may change your beneficiary as often as
needed at www.benefitsolver.com.
