Life Insurance

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Basic Term Life

The City provides Basic Term Life insurance for all eligible employees through Minnesota Life, at no cost to the employee. Employees are covered for an amount equal to one times their annual earnings, rounded to the next higher multiple of $1,000, not to exceed $100,000.

Accidental Death & Dismemberment

Also at no cost to the employee, the City provides Accidental Death & Dismemberment (AD&D) insurance, which pays in addition to the Basic Term Life benefit when death occurs as a result of an accident. The AD&D benefit amount equals the Basic Term Life.

Always remember to keep beneficiary forms updated. Employees may update their beneficiary information anytime by contacting the City’s Human Resources Department

Voluntary Life Insurance

Voluntary Employee Life and AD&D Insurance

 Eligible employees may elect to purchase additional life insurance on a voluntary basis through Minnesota Life. This coverage may be purchased in addition to the Basic Term Life and AD&D coverages. Voluntary Life Insurance offers coverage for employees, their spouse or child(ren) at different benefit levels. If elected amounts are higher than the guaranteed issue amount, an Evidence of Insurability is required. Visit the Securian website. Provide the group policy number 34074; enter access key Melbourne; complete the word validation. Once completed Human Resources staff will receive notification to process.

  • Units can be purchased in increments of $10,000, with a maximum of $500,000, or 5 times annual salary.
  • The Voluntary Life Benefit includes an AD&D Benefit that matches the Voluntary Life amount elected.
  • Rates are subject to increase annually and are based on the employees age bracket.
  • Group coverage with the City will end upon termination.

Voluntary Spouse Life and AD&D Insurance

Units can be purchased in increments of $5,000, not to exceed a maximum of $250,000. However, coverage cannot exceed the employee’s combined Basic and Voluntary Life coverage amount.
  • A spouse is not eligible if they are eligible as an employee.
  • Spouse coverage includes AD&D coverage equal to the spouse term life amount.
  • Coverage ends when the employee terminates employment or retires from the City.

New Hires can purchase voluntary spouse life insurance without having to go through Medical Underwriting, also known as Evidence of Insurability (EOI), up to the Guaranteed Issue amount of $25,000.

Dependent Child(ren) Life Insurance

For all children, from birth up to age 26 employees can elect coverage in increments of $10,000 or $20,000.

Coverage is a flat $0.07 per month per $1,000, for all eligible dependent children enrolled, regardless of how many.

Coverage ends when the employee terminates employment or retires with the City.

Plan Features

  • Waiver of Premium — (Class I) If an employee becomes disabled before age 60, their life insurance premiums may be waived until recovery or age 70.
  • Accidental Death and Dismemberment (AD&D) — Provides an additional insurance benefit if death resultsfrom an accident, or pays a benefit if there is a loss from an injury as defined in the plan.
  • Accidental Death Benefit — If an employee becomes terminally ill with 12 months or less to live, they may request early payment of up to 100 percent of their life insurance amount.
  • Conversion — Employees have the option to convert their group life coverage to an individual life policy when their group coverage ends. Premiums will be higher than those paid by active employees.
  • Portability — If an employee leaves or retires, prior to age 70, employees may be eligible to take their Basic and Voluntary Term Life coverage with them and pay premiums directly to Minnesota Life. Premiums will be higher than those paid by active employees.