Optional Life Insurance Premiums to Decrease

The VRS Board of Trustees unanimously approved a proposal from Minnesota Life to reduce optional life insurance premium rates for employee, spouse and dependent child coverage effective July 1, 2007.

Overall, optional life insurance premium rates will reduce 18 percent for employee and spouse coverage. Rate reductions will vary based on the age of the insured person and will range from 6 percent to 45 percent. Dependent child coverage premium rates will reduce 20 percent overall.

As a guide for implementing new rates, Minnesota Life will make premium information available on its Web site at www.lifebenefits.com by the first week of June. Please contact Minnesota Life Richmond Branch Office Manager, Joe Chang, at 1-800-441-2258, ext. 101, or by e-mail at joseph.chang@securian.com for any specific needs during implementation.