New Employee Orientation - Mississippi State University

Whole Life Insurance

Whole Life Insurance is a voluntary, optional coverage. It provides basic death benefits along with several other valuable features not found in traditional group term life insurance coverage.

The premiums are based on your age at policy issuance and do not increase with age
Your policy builds cash value at the policy’s current interest rate, which is guaranteed to never be less than 4.5 percent.
Your coverage may be continued until age 100 years long as sufficient premiums are paid.

This coverage is portable, so you can take it with you if you retire or leave Mississippi State. Also, coverage options are available for your spouse and children.

If you apply for coverage within 31 days of employment, no health questions will be asked, and no physical is required. The next opportunity to enroll is during open enrollment in the fall, or upon a relevant change in family status. If you wait to enroll during open enrollment, or at any other time after the first 31 days of employment, you will be required to provide medical evidence of insurability.	Carrier	UNUM Provident
	Rates	Voluntary Workplace Benefits: Interest-Sensitive Whole Life Insurance
	Pre-tax?	No. The premiums for this coverage cannot be tax-sheltered under the MSU Pre-tax Benefits Plan.
	Application	Application for Insurance to Provident Life and Accident Insurance Company