UW Employees Inc. Life Insurance

Life Insurance

Plan Summary

UW Employees, Inc. Life Insurance plan offers decreasing term life insurance to eligible University employees. Coverage ranges from $4,000 – $30,000 depending on employee’s age. There is no coverage available for family members.

In addition to benefits payable in event of your death, this plan provides the following benefits:

  • If you are terminally ill with a life expectancy of 12 months or less, you may receive up to the full amount of your coverage prior to your death.
  • Conversion of coverage to an individual policy at the end of employment.
  • Legacy Planning Services offers access to resources to help you and your family work through end-of-life issues.

Popular Forms & Publications

Eligibility

Employee

You must meet the following requirements to be eligible for this plan:

  • Eligible for State Group Health Insurance; and
  • Are not receiving a Wisconsin Retirement System (WRS) annuity.

Dependents

Dependents are not eligible for coverage under this plan.

Enrollment

  • You may enroll within 30 days of the start of your first eligible appointment.
    • Coverage is effective on the first of the month on or following receipt of your application, either through eBenefits or paper application.
  • If you were initially eligible for coverage when you were not covered by the WRS, you have another opportunity to enroll within 30 days of your WRS coverage begin date.
  • If you do not enroll when first eligible, you may apply for coverage at any time using the Medical Evidence of Insurability Form (acceptance not guaranteed). Coverage is effective on the first of the month on or following the approval of your application by the plan’s underwriter.

Note: You may cancel coverage at any time during the year.

Premiums & Coverage

Your coverage level and premium is determined by your age as of January 1st of the current year.

Monthly Premiums
and Coverage Levels
Age as of
January 1		 Benefit
Amount		 Premium
Under 35 $30,000 $1.00
35 – 39 $25,000 1.25
40 – 44 $22,000 1.60
45 – 49 $15,000 2.00
50 – 54 $12,000 2.40
55 – 59 $10,000 3.80
60 – 64 $9,000 4.35
65 and over $4,000 3.00

The University of Wisconsin does not contribute to the premium.

Beneficiary Information

You are strongly encouraged to submit a Beneficiary Designation to ensure benefits are paid according to your wishes. Once you enroll in coverage, Minnesota Life will send you login information so you can name your beneficiary(ies) online through their secure LifeBenefits portal. You can also mail or fax a paper designation directly to Minnesota Life.

In the event there is no eligible beneficiary on record, or you do not submit a designation either electronically or on paper, benefits will be paid in the following order:

  • Your surviving spouse or domestic partner, otherwise;
  • Your surviving children equally, otherwise;
  • Your surviving grandchildren equally, otherwise;
  • Your surviving parents equally, otherwise;
  • Your surviving siblings equally, otherwise;
  • Your estate.

Forms & Publications

  • Application – Complete and submit to your institution’s benefits office to enroll in the plan.
  • Beneficiary Designation – Complete and submit to Minnesota Life to name who you would like to receive benefits payable upon your death.
  • Accelerated Death Benefit Form – Complete and submit to Minnesota Life if you have a terminal illness with a life expectancy of less than 12 months and want to apply for benefits payable during your lifetime. Your benefits office must complete the Employer Section before it is submitted to Minnesota Life.
  • Conversion Application – Complete and submit to Minnesota Life if you want to convert your coverage to an individual policy at end of employment. Your benefits office must complete the Employer Section before it is submitted to Minnesota Life.
  • Medical Evidence of Insurability Form – Complete and submit to Minnesota Life if you want to apply for coverage through Evidence of Insurability. Your benefits office must complete the Employer Section before it is submitted to Minnesota Life.

Plan Administration

The UW Employees, Inc. Life Insurance Plan (group policy #33977-G) is administered by University of Wisconsin Employees Inc., an employee-directed nonprofit corporation. Minnesota Life Insurance is the underwriter for this plan.