Life Insurance - MN Life

Minnesota Life Insurance Company
P O Box 259708
Madison, WI 53725-9708
PHONE                        (608) 277-8690
TOLL FREE PHONE   (866) 295-8690  
FAX                             (608) 277-8665
http://etf.wi.gov/members/benefits_life_ins.htm

Term Life Insurance


Verona Area School District participates in the Wisconsin Public Employers Group Life Insurance Program, which is administered by the Department of Employee Trust Funds.  The coverage is underwritten by the Minnesota Life Insurance Company.

Under most circumstances, there is no cash benefit from this insurance while you are still 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.

Basic Plan
If you retired before the age 65 and you meet the qualifications on page 19 of you plan booklet, you will be able to continue 100% of your Basic Plan until age 65.
- The cost of the insurance will be deducted from your monthly annuity
- At age 65, your basic plan will continue at a reduced amount as shown in the table below
- At age 65, your premium deductions from your annuity will cease
If you retired at age 65 or later, your insurance will automatically continue at a reduced amount for life as follows:
                             Percent of Basic
Age                        Plan Continuing                *No Further Premiums Due
While age 65                   75%   
While age 66                   50%
While age 67 & up           25%

Supplemental Plan
If you retired before the age 65 and you meet the qualifications on page 19 of you plan booklet, you will be able to continue 100% of your Supplemental Plan until age 65.
- The cost of the insurance will be deducted from your monthly annuity
- At age 65, your Supplemental Plan will end
If you retired at age 65 or later, your Supplement Plan will end. 

Additional Plan
If you retired before the age 65 and you meet the qualifications on page 19 of you plan booklet, you will be able to continue 100% of your Additional Plan until age 65.
- The cost of the insurance will be deducted from your monthly annuity
- At age 65, your Additional Plan will end
If you retired at age 65 or later, your Additional Plan will end. 

Forms and Informational Links:
Beneficiary Designation Form
Program Booklet   
2014 Monthly Rates
Cancellation Form