Life & Disability

Bowling Green State University offers Life Insurance benefits through Minnesota Life, also known as Securian Life.

Minnesota Life/Securian Life

Financial Security

Forecasting future financial needs can be most challenging. Whether you are trying to ensure that
your family is provided for in the event that the unexpected happens, or you are attempting to build for
your retirement, it is important to understand what is available for you here at BGSU.

Basic Life Insurance

BGSU offers basic life insurance coverage through Minnesota Life, including an accidental death and
dismemberment benefit to all full-time faculty, administrative and classified staff.

For classified staff, the basic coverage provided by BGSU is $50,000,

For faculty and administrative staff, the basic life insurance coverage provided to you by BGSU is
equal to one and one-half times your rate of pay, not to exceed $125,000 rounded up to the next
higher $1,000.

The Internal Revenue Service (IRS) requires that employees be taxed on the value of the employer paid
group life insurance coverage exceeding $50,000, which is known as “imputed income.” This
means that for life insurance coverage that exceeds $50,000 per year, the tax you owe on the value
of the coverage that exceeds $50,000 is reported to the IRS in Box 12 of your year-end W-2 form.
The tax is based upon age brackets based on your age on the last day of that calendar year and will
increase in five-year increments as you grow older.

Optional Life Insurance for You

As a new hire you may enroll in Optional Life Insurance the first day of the month following hire.
During Open Enrollment, employees have an opportunity to elect or increase the amount of optional
life insurance.

You can enroll up to 5 times your annualized earnings, not to exceed $300,000. (Annualized salary is
your base salary as of September 1, and does not include stipends or other earnings you may be
paid.)

If you do not currently have optional life coverage and wish to enroll, you will be required to provide
evidence of insurability.

If you currently have optional life coverage, you will be able to increase it by one level without
providing evidence of insurability as long as the level is not in excess of the guaranteed amount
based on your age or salary. If your elected amount is above the guaranteed issue amount, you will
be directed to submit evidence of insurability.

Evidence of Insurability

Evidence of Insurability, commonly referred to as EOI, requires you as the faculty, administrative or
classified staff member to provide more information in order for Minnesota Life (for optional life
insurance) and/or Unum (for long-term disability coverage) to determine acceptance for insurance. If
you are required to submit an EOI, you must complete the appropriate form and submit it to the Office
of Human Resources by the Open Enrollment deadline.

Age Reduction Clause: The amount of employees’ basic life insurance and accidental death and
dismemberment insurance coverage has an age-reduction provision that results in the employee’s
coverage reducing by 50% when he or she reaches age 70. For example, if your life insurance
coverage is $50,000, the amount paid to your beneficiary would be one-half of the covered amount
(half of $50,000 = $25,000).

Dependent Life Insurance for your spouse and child(ren)

BGSU offers life insurance on your dependents on a voluntary basis, as a new hire and/or during the
annual Open Enrollment. This coverage is designed to help ease the economic consequences in the
event of a dependent’s fatal illness or sudden death. During Open Enrollment, if you do not currently
have dependent life insurance and wish to enroll, your dependent(s) will be required to provide
evidence of insurability. The coverage amounts of the policy are as follows:

  • Spouse - $10,000
  • Child age 15 days to 6 months - $500
  • Child age 6 months to age 21 - $5,000.

The monthly cost is $2 regardless of the number of dependents. Your per-pay-period amount will
show on your online enrollment.

If you are not currently enrolled, and elect coverage during Open Enrollment, in order to be approved
by Minnesota Life, you will need to submit evidence of insurability for each dependent you wish to cover.

Once your child reaches 21 years of age, it is your responsibility to notify the Office of Human Resources to drop your child from coverage.

Take advantage of your LifeSuite Services

The following programs and resources are available to all employees insured under the Minnesota
Life group life insurance program, their spouses and dependent children. No additional premium or
enrollment is required. Just access these resources as you need them.

  • Travel Assistance Services – Global Rescue provides travel assistance services to all active U.S.
    employees covered under the group life insurance program and their spouses and dependents. The
    services are available 24/7/365 for emergency assistance and transport services when traveling 100
    or more miles away from home. Visit LifeBenefits.com/travel or call 1-855-516-5433 in the U.S. and
    Canada. From other locations, you can call collect to +1-617-426-6603.
  • Legal Services – Ceridian provides employees and their dependents telephone access to a
    national network of 22,000+ accredited attorneys for consultation on simple wills, estate planning
    documents and other legal issues. Discounts are available for participating attorneys. Contact
    Ceridian at 1-877-849-6034 or visit LifeWorks.com (user name: will password: preparation).
  • Legacy Planning Services – Active and retired employees, spouses and dependents can access
    resources designed to help individuals and families work through end-of-life issues when dealing with
    the loss of a loved one or planning for their own passing. These resources are available at
    LegacyPlanningServices.com.
  • Beneficiary Financial Counseling – Beneficiaries who receive at least $25,000 in policy benefits
    may choose to use independent beneficiary counseling services from PricewaterhouseCoopers LLP.

The Bowling Green State University Long-Term Disability plan is administered by UNUM.

UNUM

1-800-421-0344
http://www.unum.com/

Long-Term Disability

This benefit is designed to provide a portion of your income when an extended injury or illness has occurred and prevents you from working. The amount of benefit you receive is based on your salary earned before your disability began.

The program has a waiting period of one year of continuous active employment. The elimination period defines the time prior to when benefits begins and is the later of

  • 180 days or
  • the date your accumulated sick leave payments end if applicable.

If you did not elect this option during the last Open Enrollment or upon hire, you can do so during the annual Open Enrollment period. However, in order to be considered by Unum, you will need to submit evidence of insurability.

Full-Time Faculty and Administrative Staff:

Full-Time bargaining unit faculty, faculty administrators and administrative staff are provided this benefit. The benefit is 60% of your monthly salary, not to exceed $3,000 a month.

Full-Time Classified Staff:

Full-Time classified staff may purchase this benefit. The benefit is 60% of your monthly salary, not to exceed $5,000 a month.