Life Insurance Information

Life Insurance Programs

The State provides Basic Life Coverage of $25,000 at no cost to all benefit eligible employees. The Plan provides both a death benefit and an accidental death and dismemberment (AD&D) benefit. In addition, you may elect Supplemental Life Coverage for yourself and your eligible dependents. You pay the full cost of these coverages through after-tax payroll deductions.

For more information, see the Group Life Plan Document.

Employer Paid Basic Life

Basic Life Coverage includes a death benefit and an AD&D benefit. The AD&D coverage provides a death benefit in the case of accidental death plus a benefit if you suffer a covered injury.

Employee Supplemental Life

You may choose Supplemental Life Coverage levels for yourself of two, three, four, or five times your annual earnings. The maximum amount of Supplemental coverage available is $400,000.

Dependent Life Coverage

You may purchase Dependent Life Coverage for your spouse and eligible children (unmarried, dependent children who are at least 14 days old but younger than 19 years old [or 23 years old if they are full-time students]). The $10,000 coverage will cost $2.09 per month, regardless of the number of eligible dependents.

* You must choose Supplemental Life Coverage for yourself to cover your eligible dependents under the Dependent Life Coverage.

Basic Long-Term-Care (LTC) Benefits

Active employees who carry the State Group Supplemental Life Plan will automatically receive a Basic Long-Term-Care (LTC) benefit. UnumProvident insures this benefit.

 

OTHER SUPPLEMENTAL LIFE COVERAGES:


TRI TERM LIFE

Tri Term is a voluntary individual term life insurance plan underwritten by Northwestern National Life Insurance Company (NWNL). The plan combines the advantages of group insurance – economical rates and payroll deduction – with the benefits of individual insurance – the insured person controls the amount of his or her own protection, and coverage may continue regardless of changes in employment. The TriTerm plan also limits rate increases to once every three years.

Each year, on the anniversary date of your plan, you are entitled to increase your insurance coverage, if eligible. In addition, when you buy insurance under the TriTerm plan, you receive coverage that is individually yours. This means that you can take your policy with you should you retire or change your place of employment. You also have the option to convert your policy to a permanent whole-life insurance plan offered by Northwestern National Life Insurance Company. However, the rates for a permanent insurance policy are generally higher than those available for term coverage.

Rates and other terms are available at the Human Resources Office. For additional information, call 1-800-456-6965.

NEW YORK LIFE NYLA

NYLA is a whole life insurance offered through New York Life Insurance Company to employees who have been working full-time for at least six months. This insurance is offered on a guaranteed issue basis to new employees and to those who have previously enrolled. Guaranteed issue means that there are no medical requirements. Those employees who did not participate in the initial opportunity for the guaranteed issue are eligible to enroll on a "Simplified Issue" basis.

During the enrollment period (usually toward the end of February) a New York Life agent will contact new employees to schedule a convenient time to review this program. It is then the employee’s decision whether to take advantage of the benefit or to sign a waiver not to participate in the plan.

This plan is portable. If you retire or leave employment, you can continue your policy without any change in premiums or current benefits.

 

For more information on the above Life Insurance options click here to visit the SD State Benefit website.