Group term life insurance, including an Accidental Death and Dismemberment (AD and D) rider, is available to all benefit-eligible employees. Coverage is not available to Other Personal Services (OPS) employees. The University of West Florida pays the cost of premiums. All employees are automatically enrolled unless they decline coverage within 60 days from their date of hire. Plan changes are only allowed during the annual Open Enrollment as a result of an approved qualifying status change.
Coverage is $25,000 for all employees. Part time employees will pay a prorated share of the normal full time premium paid by the university. (See a benefits representative in Human Resources for more details) The Minnesota Life Insurance company underwrites the plan.
The basic life insurance coverage also includes an additional benefit of accidental death and dismemberment coverage (AD and D). Enrollees are eligible for benefits, which are paid in the event of accidental deaths or certain injuries. Payments vary from 25% to 100% depending upon the severity of the injury. Participants may also be eligible to receive benefits for the loss of use of limbs.
State employees who enroll in the basic term life insurance plan also have the opportunity to purchase additional term life insurance. Coverage may be added by selecting amounts from one to seven times their base annual salary, up to a maximum of $1,000,000. This is an "employee pay-all" benefit; however, the premiums are very competitive. Employees who decline optional life coverage when first hired, but subsequently wish to enroll during Open Enrollment, will be subject to medical underwriting conducted by Minnesota Life Insurance.