VRS Optional Group Life
Administered by Virginia Retirement System (VRS)
Group Life by Minnesota Life
This benefit is for employees who wish to purchase additional life insurance protection above what is provided by the school board:
ELIGIBILITY
All active employees participating in the Basic VRS Group Life Plan
Spouses of participating employees
Unmarried children to age 21 and to age 25 if a full-time college student
AMOUNTS OF COVERAGE
One, two, three, or four times your annual salary.
Spouse is guaranteed Option 1 (one-half your salary) if he/she applies within 30 days of hire. Higher options will require EOI.
Children’s coverage depends on option you choose. Can be insured for $10,000,$20,000 or $30,000. One premium covers all children.
UNDERWRITING
Employee’s coverage guaranteed up to $375,000 if enrolled within 31 days of employment.
Spouse coverage under Option 1 is guaranteed.
Coverage over the guaranteed amount requires completion of Evidence of Insurability (EOI).
WHEN TO ENROLL
If you apply within 31 days from the date of employment, you may receive all options, up to a maximum death benefit of $375,000, without providing evidence of good health.
Applications for Optional Life may be made at any time beyond 31 days after either the employment date or eligibility date by completing both an application and an evidence of insurability form.
HOW TO ENROLL
Complete the paper application (VRS-39) included in the Optional Group Life Insurance brochure. For additional information, contact the Benefits Department.