State Group Life Insurance
In January of each year, UW-Madison employees who are enrolled in State Group Life may receive an automatic increase in the employee coverage amount. The coverage increase is based on the prior year's Wisconsin Retirement System earnings rounded up to the next $1,000, and coverage becomes effective March 1. Premiums may increase as they are based on the amount of coverage and employee age as of January 1.
The State Group Life premium is deducted from payroll two months in advance of coverage.
How is the increase in coverage determined?
The increase is per unit of employee coverage that an employee is enrolled in. Each unit is equal to an employee's annual salary rounded up to the next $1,000. The maximum number of units available for an employee is five. The increase is not elective. Elective decreases in the coverage per unit may be allowed under certain circumstances. The increase in coverage amount does not apply to any spouse or dependent coverage.
How do I find out about my coverage level?
The annual Staff Benefits Statement sent each April reflects the coverage amount for the calendar year. Contact a benefits specialist if additional information is required.
Can I still change my coverage?
If you did not elect all available employee units or spouse and dependent coverage when initially eligible, you may apply through evidence of insurability by completing and submitting form ET-2305. You can download Form ET-2305 or obatin it from your benefits coordinator. Instructions are included with the form.
Exception: If you did not have a spouse or dependent to insure when initially eligible, you may later obtain coverage for them by filing an application, Form ET-2304, within 30 days of the date you marry or have a dependent child, whichever is earliest. Form ET-2304 is also used for decreasing coverage.
What are the features of this type of insurance?
In addition to providing a benefit for loss of life due to natural causes, the State Group Life Plan includes these features:
- Accidental death, dismemberment and loss of use coverage (employee only).
- Waiver of premium during periods of total disability.
- Living benefits.
- Insurance without further premiums for eligible retirees older than 65.
- Option to continue coverage during layoff or approved leave of absence.
- Conversion coverage for spouse or dependents when eligibility is lost.
- Option to convert post-retirement coverage to pay premiums for State Group Health or University-sponsored Long-Term Care Insurance.
Download State Group Life Plan booklet (ET-2101) or obtain it from your benefits coordinator.