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Optional Life Insurance
Description of Benefit
Pays benefits in addition to the basic benefit in amount of 1, 2, 3 or 4 times your annual compensation, 1/2 member coverage for spouse and proportionate coverage for dependent children.
Eligibility for Benefit
Coverage continues for up to 24 months; member pays the cost of optional life coverage. After 24 months, member may convert to an individual policy.
Benefits upon Return to VRS Employment
Coverage continues with premiums paid through payroll deduction. Member may drop optional coverage while on leave without pay for active military service and be reinstated without having to provide evidence of good health for the same or lesser amount. The deduction must resume immediately upon re-entry into a covered position.
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