🛡️ Protect Your Loved Ones: Life Insurance Coverage Options.

Life insurance is a key tool to protect your family’s financial future. Here’s a quick guide to the options offered through the University.

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📝 Term Life Insurance (University-Sponsored)

• Coverage: Specific period, which is length of employment for the University sponsored plans.

• University Offering: Basic term life at no cost for eligible full-time employees, with supplemental term life options

Highlights:

🏷️ Premiums increase at significant birthdays (ending in 5 or 0)

✅ Guaranteed Issue during Open enrollment for current enrollees: increase one benefit level, within GI limits

🩺 New enrollees must medically qualify

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🏛 Permanent Life Insurance (Universal Life)

• Coverage: Lifetime, as long as premiums are paid

• Cash Value: Accumulates over time

• Rates: Age-locked, do not increase with age

• University Offering: Universal Life through Allstate

Highlights:

✅ Guaranteed Issue during Open Enrollment

🔗 Adding coverage creates a new policy that stacks onto existing coverage, increasing total protection

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⚡ Accidental Death & Dismemberment (AD&D)

• Focus: Death or dismemberment from a covered accident

• ❌ Does not cover death from illness

• University Coverage: Equal to your basic life insurance

Key Difference from Accident Insurance:

💥 AD&D: Part of life insurance, protects against death/dismemberment only

💰 Accident Insurance: Voluntary supplemental policy, cash benefits for accident-related medical costs, including additional AD&D as one of its benefits

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📅 Enrollment Information

• Open Enrollment: November 1 – December 1

• Options: Enroll or make changes to supplemental term life, Universal life, or Accident Insurance

• ⚠️ Some changes require medical questions and carrier approval

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📚 Learn More

💻 LinkedIn Learning: The Basics of Life Insurance, Life Insurance 101

• MyMissouriState > Learning and Development Card > LinkedIn Learning

🌐 Virtual Benefits Fair: Explore all life and accident-related benefits

📝 HR Blog: News, insights, professional development

🌿 Wellness Blog: Health & wellness updates