Optional Group Life Insurance Program
Members who are covered for basic group life insurance may purchase optional group life insurance coverage in an amount equal to one, two, three or four times their compensation, not to exceed $700,000. Members pay the premiums for optional life insurance coverage through payroll deduction.
Members are not required to provide evidence of insurability if they apply for optional group life insurance within 31 days of becoming covered by VRS basic group life insurance, which is usually the date a member joins a VRS-covered position. Evidence of insurability is required if a member applies after the 31st day; wishes coverage over $350,000; or later wishes to increase the amount of coverage.
Members also may elect optional group life insurance coverage for their spouses and dependent children. A spouse is eligible for up to half the maximum amount of the member’s coverage. Each dependent child who is at least 15 days old may be covered for $10,000, $20,000 or $30,000, depending on the level of coverage the member elects.
Questions About Life Insurance Coverage
VRS has contracted with Minnesota Life to administer the Group Life Insurance Program. For more information, contact:
Joseph
Chang, Manager, Richmond Office
Minnesota
Life
P.O. Box 1193
Richmond, VA 23218-1193
1-800-441-2258
Employer Log-In