Life Insurance
Understand Your Options
You are offered three life insurance options through The Hartford and Aetna.
- Basic Life Insurance and AD&D – you are provided $15,000 of basic life insurance at no cost.
- Individual Supplemental Life Insurance – You may also purchase supplemental life insurance for
yourself. - Dependent Life Insurance – You may purchase supplemental life insurance for your eligible
dependents.
Basic Life Accordion Open
Basic life insurance and AD&D
You are automatically covered for $15,000 of basic life insurance provided by The Hartford at no cost to you.
Plan features:
- $15,000 of Accidental Death and Dismemberment (AD&D) insurance
- $15,000 Seat Belt Benefit may also be payable if you die in an automobile accident
- $5,000 Airbag Benefit
Supplemental Life Accordion Closed
You may purchase individual supplemental life insurance and AD&D through either The Hartford and Aetna (group #320471) for yourself.
The Hartford
Coverage amounts: You may purchase coverage in increments of $5,000, up to the lesser of 3x your salary, or $500,000.
Newly eligible: You may purchase up to the maximum amount of $500,000.
Open Enrollment: You may stop coverage, increase, decrease in multiples of $5,000 up to a maximum of $20,000 annually.
Aetna
Coverage amounts: You may purchase coverage of 1x, 2x or 3x your salary (rounded to the nearest $1,000) up the maximum of $300,000.
Newly eligible: You may purchase up to the maximum amount of $300,000.
Open Enrollment: If enrolled, you may elect 1x your annual salary annually up to a max of 3x your salary.
Per pay periods rates per $1,000 of coverage:
| Age Group | Securian | Aetna |
|---|---|---|
| 18-24 | $0.028 | $0.022 |
| 25-29 | $0.028 | $0.028 |
| 30-34 | $0.031 | $0.039 |
| 35-39 | $0.035 | $0.045 |
| 40-44 | $0.056 | $0.050 |
| 45-49 | $0.073 | $0.072 |
| 50-54 | $0.115 | $0.111 |
| 55-59 | $0.164 | $0.168 |
| 60-64 | $0.289 | $0.251 |
| 65-69 | $0.289 | $0.334 |
| 70+ | $0.453 | $0.531 |
Dependent Life Accordion Closed
You may purchase dependent life insurance through either Hartford Life Insurance or Aetna Life Insurance for your legal dependents.
The Hartford
Coverage amounts: You may purchase amounts: $2,000, $4,000, $6,000, $12,000, 15,000 or $50,000 in coverage.
Required individual amount: To purchase $50,000 of coverage you must have individual supplemental coverage through Hartford of $35,000.
*If you elect $50,000 of dependent coverage, but do not enroll in at least $35,000 of individual supplemental coverage your dependent coverage amount will be reduced to $15,000
Newly eligible: You may purchase any of the coverage amounts listed above.
Open Enrollment: You may increase, decrease or stop coverage.
Aetna
Coverage amounts: You may purchase either $5,000 or $10,000 in coverage.
Required individual amount: You must purchase Aetna individual supplemental life to purchase Aetna dependent life insurance.
*If you elect dependent coverage, but do not enroll in individual supplemental coverage you will not be enrolled in dependent coverage
Newly eligible: You may purchase any of the coverage amounts listed above.
Open Enrollment: You may increase, decrease or stop coverage.
| Securian | Aetna |
|---|---|
| $2,000 - $ 0.43 | $5,000 - $1.32 |
| $4,000 - $ 0.87 | $10,000 - $2.64 |
| $6,000 - $ 1.30 | |
| $10,000 - $ 2.17 | |
| $12,000 - $ 2.60 | |
| $15,000 - $ 3.25 | |
| *$50,000 - $10.85 |
* You must elect at least $15,000 of individual supplemental life coverage in order to elect $50,000 of dependent life insurance coverage.
Beneficiaries
In the event of your death, your basic life and supplemental individual life insurance benefit will be paid to your designated beneficiary. If you choose more than one beneficiary, you can define the amount paid or a percent paid to each beneficiary.
Primary vs contingent beneficiaries
- A primary beneficiary receives 100% of the designated amount.
- A contingent beneficiary receives a benefit only if all of the primary beneficiaries are deceased.
Naming an estate or organization
If you are naming an Estate, or Organization as your primary beneficiary you will be required to provide an Employer Identification Number (EIN), also known as a federal tax identification number used to identify a business entity. The EIN should be used in place of the Social Security number (SSN). You can obtain the EIN from the Trustee of the Estate or the designated Organization.
Changing your beneficiaries
It is important to keep your beneficiary information current. You may change a beneficiary and/or the designated amount for your current beneficiary through Self Service at any time.
How to make a beneficiary change Accordion Closed
- Log into LOUIE Self Service
- Select ‘Self Service’
- Select ‘Benefits’
- Select ‘Benefit Summary’
- Click on a life plan (for example ‘NAU Basic Life’)
- Click on the name of a beneficiary to update their information
- Click ‘Edit’ to add new beneficiary.
- Save your changes before exiting.
Your options at termination
I want to…
- Review the Summary of your NAU benefits
- Review plan documents
- Learn how to enroll in benefits
- How to change your benefits
Review the Summary of Your NAU Benefits
