HISD provides $10,000 of life insurance coverage and $10,000 of AD&D insurance coverage at no cost to all benefit-eligible employees. You can purchase more coverage with supplemental life and AD&D insurance. The AD&D benefit matches the supplemental life benefit; AD&D is not a separate election. This is also true if you purchase spouse or child supplemental life.
In general, and subject to policy exclusions, your beneficiary receives life insurance benefits if you die while covered. You receive AD&D benefits if you have a loss as the direct result of an accident. If you die in an accident, your beneficiary receives your AD&D benefits.
You’re automatically the beneficiary for any spouse or child Life and AD&D insurance policy. For more information, refer to the insurance certificate available through the Benefits Department or call Minnesota Life at 888-658-0193, 7 a.m. to 6 p.m. Central Time, weekdays (excluding holidays).
If you’re eligible, you may purchase supplemental coverage of one, two, three, four or five times your annual base salary with no evidence of insurability (EOI). The maximum coverage amount is $600,000. You may purchase more coverage, up to eight times your annual base salary to a maximum of $1,000,000, but this additional amount of coverage is subject to EOI. You may increase your coverage by one times your base salary each year, also without EOI, until you reach five times your annual salary base (or $600,000). Any amount above five times your annual salary requires EOI.
The value of the coverage you select is based on your annual base earnings and your age as of January 1 of the plan year of coverage or the date you become benefits eligible, if later. The AD&D benefit matches the supplemental life benefit; AD&D is not a separate election. This is also true if you purchase spouse or child supplemental life. If you’re not actively at work when you enroll for or increase supplemental life and AD&D coverage, your coverage takes effect when you complete your first day back at work.
For example, if your annual base salary is $41,550 and you purchase supplemental life for two times your annual base salary, your payout amount would be $84,000 ($41,550 rounded to $42,000, times 2).
If you purchase supplemental coverage for yourself, you may also buy life and AD&D coverage for your spouse and your children. The AD&D benefit matches the supplemental life benefit; AD&D is not a separate election.
If your spouse also works for the school district, you can be covered by supplemental life and AD&D or spouse life and AD&D, but not both. A child may not be insured by more than one employee.
You can cover your spouse at your coverage amount or $250,000, whichever is less, but any amount over $100,000 requires EOI. Your amount of coverage is determined by your base earnings as of January 1 of the plan year of coverage or the date you become benefits eligible, if later.
You have four options:
Spouse coverage is not effective until supplemental coverage is approved.
You have the following coverage options per child:
Child coverage is not effective until Supplemental coverage is approved. Your cost for child coverage is the same no matter how many eligible children you insure.
A medical history statement (MHS) verifies your general health and serves as your EOI for Life and AD&D coverage. It verifies your general health for underwriting purposes and provides the insurance company with information to determine if you can enroll. If the provider requires EOI, you simply complete and submit your form through Minnesota Life’s company website. Coverage that requires EOI is effective the first of the month after the company approves your EOI. If you sign up during benefits enrollment, your coverage can’t start before the new plan year begins.
A medical history statement verifies your general health and serves as your EOI for Life and AD&D coverage. It provides the insurance company with information to determine if you can enroll.
Information about choosing a beneficiary is available here. You must complete a separate beneficiary designation for basic and Supplemental Life insurance. The beneficiary you designate for basic life does not automatically receive your supplemental life payout. You can update your beneficiary information at any time during the year.