State Life Insurance

 
The State of Florida offers a low cost group term life policy, including Accidental Death & Dismemberment, underwritten by Minnesota Life. To participate, eligible employees must enroll within 60 days of the starting date of employment. Changes are only allowed during the annual Open Enrollment or as a result of an approved Qualifying Status Change (QSC) Event.

Coverage & Premiums:

The Basic Life Insurance is 1.5 times the employee’s annual base salary. The employee pays 20% of the premium, with the State paying the other 80%, based on the employee’s FTE. At the age of 70, coverage amounts will be reduced by 50% for all active employees.

The basic life insurance coverage also includes an additional benefit of accidental death and dismemberment coverage (AD&D), which are paid in the event of accidental death or certain injuries. Payments vary from 25% to 100% depending upon the severity of the injury.

In addition, Optional Life Insurance is available in amounts from 1 to 5 times the employee’s annual base salary, up to a maximum of $500,000. Premiums for Optional Life are based on both the employee’s annual base salary and their age. Optional Life Premiums are “employee-pay-all” and are post-tax.

Public Safety Officers’ Benefits (Staff Law Enforcement only)

A death benefit is provided by the federal government to certain Public Safety Officers (law enforcement) who die in the performance of duty. In addition, a death benefit is available to eligible survivors of law enforcement officers who are “killed in the line of duty under certain conditions”.
 

Minnesota Life

Beneficiary Designation Form