Supplemental Term Life Insurance

Another term life option is coverage through UNUM Provident. Total premiums for this coverage are paid by the employee. Please note that you are not required to purchase the state sponsored life plan in order to be eligible for the other optional life insurance coverage.

 

Through the Unum Provident term life insurance, you may choose coverage of up to five (5) times your annual wage with a maximum benefit of $500,000. You can also purchase this coverage for your spouse and children.

 

Coverage is guaranteed up to the lesser of five (5) times your annual wage or $100,000. Also, coverage up to $10,000 in increments of two thousand dollars is available for dependent children from age six months to 19 years, or age 23 if the covered dependent is a full-time student). One premium covers one or more children.

 

Application for coverage must be made within 31 days of employment. Dependent coverage may be added within 31 days of date of marriage, birth or adoption. You may increase coverage at those times by providing evidence of insurability.

Rates for the supplemental life insurance will be provided by a benefits counselor. If you do not enroll in the plan during your initial eligibility period, you will be required to provide medical evidence of insurability if you want to enroll at a later date.

Carrier

UNUM Provident

Pre-tax?

No. The premiums for this coverage cannot be tax-sheltered under the MSU Pre-tax Benefits Plan.

Application

Term Life Insurance Enrollment Form