2024 Life, Disability, and Group Legal Insurance

Basic Life Insurance/Accidental Death & Dismemberment

Plan Overviews

Life Insurance

Montgomery College provides a group life insurance plan through Minnesota Life which provides life insurance amounting to two times the employee’s annual salary, rounded up to the next $500, not to exceed $100,000.00.It is important to be aware that any life insurance valued in excess of $50,000.00 will be included as taxable income.

Seventy-five percent of the cost of the plan is paid by the college and 25 percent by the employee.

The basic life insurance provides a waiver of premium provisions if you are disabled prior to age 60. Life insurance benefits are described in the Group Life Insurance Certificate maintained by the Office of Human Resources.

Employees can purchase additional life insurance. See Optional Group Term Life below.

 

Accidental Death and Dismemberment Insurance (AD&D)

AD&D is provided to all employees that elect the life insurance benefit. Employees or beneficiaries will be paid if an employee sustains body injuries or loss of life as a result of an accident. AD&D benefits are described in the certificate maintained by the Office of Human Resources. AD&D benefits are not payable if your death or loss is caused directly or indirectly by:suicide - whether sane or insane, physical or mental illness, an act of war while serving in the military for any country, injury while taking part in any crime you commit or attempt to commit, riding or descending in an aircraft as pilot or crew member, or bacterial infection or poisoning.

Details

If you are not currently enrolled in basic life or optional life, or want to increase your optional life insurance election, evidence of insurability forms must be completed and sent to Minnesota Life (life insurance). You can view rates and elect the level of life insurance and elect LTD in Workday, but it will not be approved until HRSTM receives approval from Minnesota Life or Standard.

 Minnesota Life (EOI)
  (PDF, )

This benefit is available to all support, associate, and administrative staff who work at least 20 hours per week in a regular or temporary-with-benefits position. It is also available to full-time faculty.

The plan is designed to be flexible and affordable, allowing for additional life insurance protection above the College basic coverage.  The premiums, which are based on age, will be deducted from your bi-weekly paycheck.

Employees can purchase optional life insurance in the following quantities:

1 x salary (up to $300,000)
2 x salary (up to $300,000)
3 x salary (up to $300,000)

Cost

The cost of this insurance is paid entirely by the employee. 

Check Workday to calculate how much optional life insurance will cost you per pay period. 

Employees who are enrolled in the Basic Life and Optional Life Insurance program (minimum 1x salary) have the option of purchasing life insurance on their spouse or dependent(s). Check Workday to calculate how much spouse or dependent life will cost you per pay period. 

The death benefits are paid as follows:

Spouse: $25,000
Each Dependent: $5,000

Eligibility

If you are not currently enrolled, evidence of insurability forms must be completed for the employee and spouse and sent to Minnesota Life. You can elect spousal or dependent life insurance in the Workday system, but it will not be approved until HRSTM receives approval from Minnesota Life or MetLife. Additional information can be found on the Open Enrollment website.

You must be enrolled in Basic Life Insurance/AD&D and at least 1x Optional Life in order to be eligible for the Spousal or Dependent Life Insurance benefits.

Legal Resources is the Montgomery College approved vendor that administers the College's Group Legal Benefit Plan (PDF, ) . 

Cost (per pay period):

12 month employees: $8.31

10 month employees: $10.80