Policies, Union Contracts, Handbooks > Support Staff Policies and Procedures

Retiree - Over 65 Life Insurance Plan

Policy

Applies to: Regular full-time faculty, academic and University support staff who were insured under the Employee-Paid Life plan prior to July 1, 1976, and have maintained continuous coverage in that plan (VARIES for 1585 and 999 prior to July 1, 1977 - see appropriate Collective Bargaining Agreement)

Summary of benefits: Eligible employees shall have a life insurance benefit in the amount of $2,000.

Premium contribution: The University pays the cost of the benefit.

Application for enrollment:

No application is necessary. Coverage is automatic once the participation requirements are met.

The life insurance benefit is paid to the beneficiary designated by the employee/retiree. The beneficiary will be the same as designated for the Employee-Paid Life plan, unless designated otherwise.

1. If no designated beneficiary survives the employee/retiree, payment will be made in one sum to the survivors in the first surviving class of those that follow:
2. • spouse,
   • children,
   • parents, or
   • brothers and sisters. If none survives, payment will be made in one sum to the estate.

Procedure

Notification of coverage:

MSU Human Resources Benefits: Policy certificates are sent to employees/retirees upon meeting the eligibility requirements for coverage.

Changes in coverage or personal information:

Employee: No action required except, as desired, to change beneficiary on Beneficiary Designation form.

Filing a claim:

Department:

1. Notify MSU Human Resources Benefits immediately upon the death of an employee or retiree.
2. Refer any questions concerning benefits of deceased employee or retiree to MSU Human Resources Benefits.

1. Contacts beneficiary.
2. Coordinates notification to University offices concerned.
3. Notifies carrier.