Optional Group Life Insurance

Members covered under the VRS Group Life Insurance Program may purchase additional coverage through the Optional Group Life Insurance Program. If members elect optional group life insurance coverage, they also may cover a spouse and dependent children. Optional group life insurance provides benefits for natural and accidental death or dismemberment. Members pay the premiums through payroll deduction. Once enrolled, members can increase, decrease or cancel coverage online with Securian Financial when they access coverage information through myVRS.

Optional Group Life Insurance Coverage Options

Coverage for Member's Spouse

A member can cover a spouse for up to twice the member's creditable compensation, not to exceed $487,500. Coverage for the member’s spouse ends when the member’s coverage ends or if they divorce. If both the member and spouse are eligible to participate in the Optional Group Life Insurance Program, neither can buy additional coverage for the other.

Coverage for Dependent Children

Members may cover each dependent child from live birth for $10,000, $20,000 or $30,000, based on the coverage option the member chooses for himself or herself. Coverage for a dependent child ends when the member’s coverage ends or when the child marries, becomes self supporting, turns 21, or turns 25 if the child is a full time college student. Coverage may continue beyond these limits if the child is unable to support himself or herself because of a physical or intellectual disability and relies entirely on the member for financial support and care.

For members with the optional life benefit, there will be an automatic benefit payment of $10,000 if the member’s first eligible child dies within 31 days of birth but prior to the employee enrolling for child life coverage.

Evidence of Insurability

Evidence of insurability (proof of good health) is not required if members enroll in the Optional Group Life Insurance Program within 45 days of their employment date. A member may enroll up to $400,000 not to exceed four times his or her creditable compensation without evidence of insurability. If members participate in the optional plan, they may add dependents within 45 days of a qualifying event, such as marriage or the birth or adoption of a child, without evidence of insurability. If a member adds spousal coverage that exceeds half the member’s creditable compensation, evidence of insurability is required.

Evidence of insurability (proof of good health) is required if:

• Members apply after 45 days from their employment date.
• Members wish to add their spouse or dependent child to their coverage after 45 days from their employment date or a qualifying event.
• Members wish to increase their optional life insurance coverage for themselves or their spouse.