LIFE AND ACCIDENTAL DEATH AND DISMEMBERMENT (ADD) INSURANCE
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Effective January 1, 2009, Minnesota Life Insurance Company is the carrier for the State and School Employees' Life Insurance Plan. MVSU offers life and ADD insurance at 2 times the employees's annual salary from a minmum of $30,000.00 to a maximum of $100,000.00. The cost of the premium is shared equally (50/50) between MVSU and the employee.
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Your Plan at a Glance (Active Employees)
|Coverage Type||Coverage||Additional Information|
|Employee Group Term Life||200% of your basic annual earnings round to the next higher $1,000.00||
|Accidental Death & Dismemberment (AD&D)||200% of your basic annual earnings round to the next higher $1,000.00||
|Retiree Group Term Life||
Retired prior to July 1, 1999
Retired on or after July 1, 1999