Wisconsin Public Employers Group Life Insurance Program
Administered by Securian Financial Group
Securian Financial Group
P.O. Box 259708
Madison, WI 53725-9708
Group Life Insurance
The Wisconsin Public Employers Group Life Insurance Program provides group term life insurance coverage for state employees and local employees whose employers have elected to participate. Detailed information regarding this insurance may be found in the brochure Wisconsin Public Employers Group Life Insurance Plan (ET-2101). To submit these changes use the Life Insurance Application/Cancellation/Refusal (ET-2304) form.
There are three enrollment opportunities for the Group Life Insurance Program: (1) open enrollment, (2) enrollment due to family status change event or (3) enrollment under evidence of insurability.
The first enrollment opportunity occurs around your hire or rehire date. This open enrollment opportunity is limited to 30 days if you meet the eligibility requirements.
The second enrollment opportunity occurs when you have a family status change event. You may enroll for one level of employee coverage OR increase your employee coverage by one level if you have a qualifying family status change event. A family status change event includes marriage, establishment of a domestic partnership as defined in Wis. Stat. §40.02(21d), or the birth, adoption, placement for adoption, or award of legal guardianship of a dependent child. You must submit your application for increased coverage within 30 days of the family status change event.
The third enrollment opportunity allows for you to enroll in life insurance coverage outside of the above listed enrollment opportunities. If you provide Securian Financial Group with satisfactory evidence of insurability at your own expense and meet the eligibility requirements, you can enroll for the amount of coverage that best suits you and your beneficiaries’ needs.
Amount and Type of Life Insurance
The Group Life Insurance Program offers you coverage of up to five times your annual earnings, depending on when and how you enroll. For the Basic, Supplemental and Additional plans, one unit of coverage is equal to your highest prior calendar year’s earnings, rounded up to the next thousand.
- Basic Plan coverage will continue in a reduced amount for your lifetime, without cost, for eligible retirees older than age 65 and for active employees older than age 70.
- Supplemental Plan coverage may continue up to age 65, if retired, or age 70 for active employees. You must be enrolled in the Basic Plan for Supplemental coverage.
- Additional Plan provides up to three units of coverage, which may continue until you terminate employment or cancel coverage.
- Spouse and Dependent Plan provides up to two units of coverage for your spouse or domestic partner and all qualifying dependent(s). Each unit of coverage provides $10,000 in spouse coverage and $5,000 coverage for each qualifying dependent.
*Local government employees: contact your employer to confirm the amount and type of coverage your employer offers. Local government employers may elect to participate in the Group Life Insurance Program, and may file a resolution to offer the Supplemental Plan and up to three units of coverage under the Additional Plan.
Employees should review the following benefits and options associated to the Group Life Insurance Program:
- Living Benefits: under most circumstances, there is no cash benefit to you while you are living; it is normally payable only as a death benefit. However, if you have been diagnosed with a terminal illness OR have been confined for medical reasons to a custodial care facility for six months OR enrolled in a certified hospice care program, you may be eligible to receive some or all of your life insurance amount as a living benefit. For more information, review the brochure Living Benefits (ET-2327).
- Converting Life Insurance to Pay for Health or Long-Term Care Insurance Premiums: active employees age 70 or older and retirees who are insured under both the Group Life Insurance Program and one of the health insurance plans or long-term care plans offered by the Department of Employee Trust Funds can elect to convert their life insurance to pay health or long-term care insurance premiums. Your Basic life insurance coverage must be at its final reduced amount and state retirees must first use up their accumulated sick leave credits. Please review the brochure Converting Your Group Life Insurance to Pay Health Premiums (ET-2325) for detailed information about this option.
Termination of Employment
When your employment terminates, you may meet the conditions for continuation of your life insurance coverage at group rates or you may convert your coverage to an individual policy without submitting evidence of insurability.
- Continuation After Termination: to be eligible to continue your life insurance coverage at group rates after you terminate employment, you must meet one of the following: you must be at least minimum retirement age (50 for protective category employees; 55 for all other categories) and be eligible to receive an immediate annuity; OR the sum of your years of creditable service under the WRS before January 1, 1990, plus four years of group life insurance coverage after that date equal at least 20 years; OR the sum of your years with the same employer before January 1, 1990, plus four years of group life insurance coverage after that date equal at least 20 years. If you began employment after January 1, 1990, you also must be insured for at least 5 years to qualify to continuation.
- Continuation After Retirement: if you are retiring and applying for an immediate retirement annuity, your insurance will automatically be continued for you. Otherwise, you should contact your payroll representative immediately for an application to continue coverage.
- Conversion of Coverage: you may qualify to convert your policy to an individual policy without submitting evidence of insurability. To be eligible, you must have been insured for at least six months before your employment ended. There are certain restrictions on the type of policy you may apply for. The conversion application, available from your employer or ETF, must be submitted with payment of your first premium to Securian Financial Group within 31 days after your group insurance coverage ends. For more information and a conversion application, see the Life Insurance Conversion (ET-2306) brochure.
For details on how your life insurance amount changes when you reach age 65, 66 and 67, see the Group Life Insurance After You Terminate Employment (ET-4104) brochure.
Evaluate the amount of coverage that works best for you and your beneficiaries. Contact Securian Financial Group with any inquiries or questions you have about enrolling in or changing the amount of coverage you have under the Wisconsin Public Employers Group Life Insurance Program.