Group term life insurance, including an Accidental Death and Dismemberment (AD and D) rider, is available to all benefit-eligible employees. Plan changes are only allowed during the annual Open Enrollment or as a result of an approved qualifying status change.
A $25,000 policy underwritten by Minnesota Life Insurance is available to all benefit-eligible employees. For full-time faculty and University Work Force staff in permanent, line item positions, the University of West Florida pays the cost of premiums. All employees in this category are automatically enrolled unless they decline coverage within 60 days from their date of hire. Employees in part-time roles and Other Personal Services (OPS) categories will receive notice from People First regarding eligibility and premiums for this benefit.
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.
Employees who enroll in the basic term life insurance plan also have the opportunity to purchase additional term life insurance. This benefit is not available to Other Personal Services (OPS) employees. Coverage may be added by selecting amounts from one to seven times the 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, swill be subject to medical underwriting conducted by Minnesota Life Insurance.