Employee and Dependent Life Insurance
Employee and Dependent Life Insurance is offered through Minnesota Life
Employee Life Insurance
One times Basic Annual compensation is paid by employer at no cost to the employee. Maximum amount of $250,000.
Optional Employee Life Insurance
One, two, three, four, or five times salary rounded to the highest $1,000. Maximum amount of $500,000.
Dependent Life Insurance
$5,000 for spouse and each dependent child - $0.42.
Optional Dependent Life Insurance
Spouse/Domestic Partner $10,000. Child(ren) $5,000 each.
Employee can cover self or family. Rate per $10,000 per bi-weekly period:
Employee Plan - $0.13
Class 1: $20,000
Class 2: $40,000
Class 3: $80,000
Class 4: $100.000
Class 5: $150,000
Family Plan - $0.18 (Percentages reflect % of employee's principal sum):
Spouse/domestic partner (with children): 40%
Spouse/domestic partner (no children): 50%
Each child (with spouse/domestic partner): 10%
Each child (no spouse/domestic partner): 15%