Group Life Insurance
Full-time, classified employees are automatically enrolled in a group life insurance policy administered by the Virginia Retirement System (VRS) and underwritten by Minnesota Life Insurance Company. There is no cost to the employee for the basic life insurance coverage since the state and university share the premium cost. The amount of life insurance coverage for natural death is based on the employee's annual salary rounded to the next highest thousand multiplied by two. This amount doubles again for accidental death. The employee designates a beneficiary for life insurance coverage when employment begins. Contact a Benefits representative at (540) 568-3970 when a change in beneficiary is desired.
Optional Life Insurance
Additional life insurance to supplement the basic life insurance is available to classified employees. Administered by VRS and underwritten by Minnesota Life Insurance Company, the plan allows employees to purchase additional insurance at group rates for themselves, their spouse and children. Rates are based on the employee's age, salary and coverage option for employee and any covered children. Spousal rates are based on the spouse's age, employee's salary and coverage option.