Securian - Life Insurance

855-750-1906 Monday through Friday, 8:00 a.m. to 4:30 p.m. Central Standard Time (CST).

 

Kent State University welcomes Securian Financial (Minnesota Life) as our provider for group life insurance effective April 1, 2020. 

Kent State University is committed to providing employees with valuable benefits programs and has chosen Securian Financial (Minnesota Life) as the new carrier for our group term life and accidental death and dismemberment (AD&D) insurance.  This change is effective on April 1, 2020.  Securian not only provides life insurance benefits but also free legal, financial, and grief resources just to name a few.  Feel free to review Securian's Lifestyle Benefits or Kent State Benefit Scout webpage for more free resources and information.

What is the cost for the Group Term Life and Accidental Death and Dismemberment Insurance?

The premiums are employer-paid; however, any amount of employer-paid insurance over the amount of $50,000 is subject to taxation as IMPUTED INCOME under Section 79 of the Internal Revenue Code.  To calculate the imputed income, please review the imputed income example for a better understanding of the imputed income cost versus the overall benefit.   

What is a beneficiary?  Do I need to designate a beneficiary?

A beneficiary is a person, trust, or organization that receives the monetary benefit of a life insurance policy should something happen to you.   Designating a beneficiary(s) provides a smoother transaction when settling an estate among your survivors. The payment of any benefit shall be made to the beneficiary on record.  This beneficiary designation may be changed at any time.  If you would like to make changes to your beneficiaries, please use the Beneficiary Form - Securian.

Beneficiary changes are not effective until the completed form is received in the Benefits Department located in Heer Hall, Kent Campus.

Is there an age reduction benefit for the Group Term Life insurance like other insurances?

Yes, once an employee reaches the age of 65, reductions of the original value will begin.  At age 65, the reduction is 65 percent of the original value, age 70, the reduction is 50% of the original value and at age 75+ the reduction is 35% of the original value.

Can I purchase additional Supplemental Accidental Death and Dismemberment (AD&D) insurance for myself or my family?

Yes.  Full-time employees who are covered by the Group Term Life and AD&D insurance program may also elect to purchase additional supplemental AD&D life insurance protection for themselves or a legally married spouse or registered domestic partner (same or opposite gender) and/or dependent children.  The premiums for this additional supplemental life insurance are paid through payroll deduction with after-tax dollars.

Employees may elect additional AD&D life for themselves in increments of $25,000 up to a maximum of $1 million.  If an employee elects coverage when first eligible, the guarantee amount up to $200,000 is available.  Any amounts elected in excess of $200,000 will be subject to medical evidence of insurability (EOI).   

How much more insurance do you need?  The Securian Benefit Scout will help you in determining the type and amount of additional insurance.  Also, the Securian Calculation Worksheet will provide you the premium amount for additional life and accidental death and dismemberment insurance. To elect additional AD&D coverage for you or your family, complete the Group Accidental Death and Dismemberment Insurance Enrollment form and return it to Employee Benefits in Heer Hall, Kent Campus.

What is an EOI - Evidence of Insurability?  Where do I complete the EOI?

Evidence of insurability is an application process in which you provide information regarding your health or your dependent's health.   To complete the EOI for Securian, you will need to gather the information that is needed first.  Review the EOI Instructional flyer for step by step instructions along with the group policy number and access key.

Can I purchase Supplemental Group Term Life insurance for myself and/or my eligible dependents?

Yes.  Employees may elect Supplemental Group Term Life insurance for themselves of one to five times their annual salary to a maximum of $1 million.  Also, employees may elect Supplemental Group Term Life insurance for their legally married spouse or eligible domestic partner in increments of $10,000, up to a maximum of $500,000, but not to exceed 100 percent of the amount of additional life the employee could elect.  If an employee elects Supplemental Dependent Life Insurance for their spouse/domestic partner when first eligible, there is a guarantee issue amount of up to $20,000.  Any amounts elected in excess of $20,000 will be subject to medical evidence of insurability (EOI).  Lastly, Supplemental Dependent Child Life Insurance is available for eligible dependent children under the age of 25 in the amount of $10,000 coverage for each eligible dependent child and is available for only $1 per month--no matter how many children you have.

To enroll in the Supplemental Group Term Life Insurance for yourself, your spouse, or your eligible dependent children, you must do so within 30 days of hire or within 30 days of a qualifying event (life status change).  In order to complete the process, you must contact the Employee Benefits office at BENEFITS@KENT.EDU which is located in Heer Hall, Kent Campus.

If I leave Kent State, whether it is voluntary or involuntary, can I continue my coverage with Securian?

Yes.  If you are no longer an active employee, you can contact Securian for individual rates.  Some options that are available for conversion are listed on Securian's Plan for the Future flyer or on their website at https://web1.lifebenefits.com/content/lifebenefits/home/en.html.

Does Securian offer travel assistance?

Yes.  If you or your dependents plan to travel, no matter for personal or business travel, you are covered at no cost to utilize Securian's Travel Assistance program.  Securian's Travel Assistance program offers pre-trip resources, assistance/evacuation, identity theft support, repatriation, and more.  Visit LifeBenefits.com/travel for more information and to print your membership card or view the informational flyer.

Does Securian offer additional benefits for free?

Yes.  Securian not only provides us with our life insurance products, but they also offer free benefits to our employees.  Also, some of the free benefits are available to spouses and eligible dependents even if they are not covered under Securian life products.  A few examples are below.  Visit the Securian Lifestyle Benefits flyer for more details.

  • Legal, Financial, and Grief Resources - Services for legal matters, financial situations, coping with family loss.
  • Travel Assistance - 24/7 online pre-trip resources and emergency travel assistance.
  • Legacy Planning Resources - End of life resources, survivor assistance.

Beneficiary Form - Securian (PDF)

Supplemental Group Term Life Insurance Enrollment Form

Supplemental Accidental Death and Dismemberment Insurance Enrollment Form

Securian Basic Life and AD&D Policy Certificate (PDF)

Securian Supplemental AD&D Policy Certificate (PDF)