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Optional Group Life Insurance Benefit
If you have optional group life insurance, you may continue a portion of that coverage for yourself, your spouse and your dependents, into retirement. You and your spouse and dependents must have been covered continuously under optional life insurance during the 60 months immediately preceding retirement in order to continue it.
You must elect to continue the optional life coverage within 31 days of retirement. Insurance amounts begin to reduce at age 65 and all insurance ends at age 80.
If you do not wish to continue your Optional Life Insurance into retirement, you and any of your covered dependents are eligible to convert your optional life coverage to an individual policy at non-group rates at retirement. If you elect to do so within 31 days after the month you retire, you may convert your optional life coverage to an individual policy without providing evidence that you are in good health. You may request a conversion kit from your employer or contact Minnesota Life directly.
Questions about Life Insurance Coverage:
Joseph Chang, Manager, Richmond Office
Minnesota Life
P.O. Box 1193
Richmond, VA 23218-1193
1-800-441-2258
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