You’re already enrolling in other benefits – so checking the box for life insurance is easy. And because most employers offer payroll deduction, you don’t have to remember to pay the bill.
Who is eligible
- You may enroll if your employer offers the program, you are a state employee, and you are under 70.
- You may enroll if you have a private pension plan with a participating local government employer.
- Employees who reach age 70 may be insured under the Additional Plan if their employer offers the plan and the employee provides “evidence of insurability.”
Ask your employer for a Life Insurance Application/Cancellation/Refusal (ET-2304) form and turn it in within 30 days of when you can enroll (sign up).
When you can enroll
If you are under age 70, you can enroll when:
- You are hired or rehired.
- You return from a leave of absence.
- You have a “family status change event,” which includes: marriage or the birth, adoption, placement for adoption, or award of legal guardianship of a dependent child.
- You completed the “evidence of insurability” process.
Date Insurance is in Effect: on the first day of the month following 30 days of when you can enroll and have paid the premium. Insurance shall not be in effect if the applicant is no longer an employee.
Cost
Group Life insurance is more affordable than going out and buying life insurance on your own. A group insurance program covers you and other people who work for the same organization, which lets the rates be lower.
The monthly premium rates are updated on April 1 for state employees and July 1 for local government employees. Current rates are in the Group Life Insurance Plan Monthly Rates (ET-2164) form.
The cost of your premium depends on a few factors:
- Your age
- How much you made the year before
- Amount of coverage
The cost of Spouse and Dependent coverage is a dollar amount for each unit of coverage, no matter the age or number of family members you insure. Current rates are in the Group Life Insurance Plan Monthly Rates (ET-2164) form.
Calculating the insurance premium
Example: a state employee is age 36 and earned $53,200 last year. She is enrolled for Basic, Supplemental, and 3 units of Additional coverage, plus two units of Spouse and Dependent coverage.
Her monthly premium is calculated this way:
| Type of Insurance | Prior Year Earnings | Rate | Total |
|---|---|---|---|
| Basic | 54 x | $0.05 | = $2.70 |
| Supplemental | 54 x | $0.05 | = $2.70 |
| Additional - Unit 1 | 54 x | $0.07 | = $3.78 |
| Additional - Unit 2 | 54 x | $0.07 | = $3.78 |
| Additional - Unit 3 | 54 x | $0.07 | = $3.78 |
| Spouse and Dependent | = $4.52 | ||
| Total Employee Premium | $23.15 |
For details about how your life insurance changes when you reach retirement age, see the Group Life Insurance After You Terminate Employment (ET-4104) brochure.
When You Can Cancel Coverage
You may cancel your coverage at any time by submitting a Life Insurance Application/Cancellation/Refusal form (ET-2304) to your employer. Coverage will cease at the end of the month in which your employer receives your application to cancel. You may cancel one plan and keep the others, but if you cancel your Basic coverage, all other coverages are automatically canceled.