Plan features

 

Plan features and frequently asked questions

Review your certificate of insurance for more detail.

Accidental death & dismemberment (AD&D)

Accidental death and dismemberment (AD&D) insurance provides additional financial protection should you or your family die or become dismembered due to a covered accident — whether it occurs at work or elsewhere.

Waiver of premium

If you become disabled prior to age 65, your life insurance premiums may be waived.

Accelerated death benefit

If you become terminally ill with 12 months or less to live, you may request an early payment of up to 100 percent of your life insurance amount.

Frequently asked questions

Who is eligible for coverage?

You are benefit eligible for this insurance if you are an active employee or officer who regularly works 20 hours each week as defined by the Arizona Administrative Code Title 2, Chapter 6.

Your spouse and child(ren) are also eligible for coverage. Any child(ren) must be under age 26 unless he or she are disabled before attaining age 26.

When can I enroll for coverage?

You may enroll during any scheduled enrollment period, within your initial new hire period, or within 31 days of the date you have a change in family status.

What is group term life and AD&D insurance?

Group term life insurance provides a base level of protection that is available for a specified period of time. The benefit would be paid if the insured were to die during that “term.”

You can buy supplemental life increments of insurance at a reasonable cost. There is no cash value buildup. Once one stops paying the premiums, coverage stops (similar to auto insurance). This coverage can be enhanced by personal savings, individual life insurance and Social Security benefits. If a benefit were to be paid to a beneficiary, it is generally paid income tax-free.

Accidental death and dismemberment (AD&D) insurance provides additional financial protection if an insured’s death or dismemberment is due to a covered accident, whether it occurs at work or elsewhere.

Why is life insurance important?

Life insurance is an essential part of any financial program. Most people buy life insurance to replace income that would be lost at the death of a wage earner. The cash provided by life insurance also helps ensure dependents are not burdened with significant debt.

Life insurance proceeds can be an important tool in helping one’s family pay for final expenses, such as funeral and medical bills, as well as day-to-day financial obligations. An important feature of life insurance is that generally no income tax is payable on proceeds paid to beneficiaries. Employees who have questions about tax matters should talk to a tax advisor.

This information should not be considered tax advice. Employees should consult a tax advisor regarding their own tax situation.

How much life insurance do I need?

Before buying life insurance, you should bring together your personal financial information and review your family’s needs. There are a number of factors to consider when determining how much financial protection one should have. These include:

  • Any immediate needs at the time of death, such as final illness expenses, burial costs and estate taxes;
  • Funds for a readjustment period, to finance a move or to provide time for family members to find a job; and
  • Ongoing financial needs, such as monthly bills and expenses, daycare costs, college tuition or retirement.

Use your personal benefits decision tool, Benefit ScoutTM, to help you decide what life insurance options make sense for you and your family.

Can I continue my coverage when I leave State of Arizona?

If you are no longer eligible for group life insurance as an active employee due to the voluntary or involuntary termination of employment (including retirement), you may be eligible to continue your in-force life insurance coverage without providing proof of good health.

For information on coverage continuation, please log onto lifebenefits.com/continue to review coverage options, calculate rates and obtain necessary forms.

Please use the policy number and access key below to log onto the continuation site.

  • Policy Number: 34681
  • Access Key: arizona

Elections must be made within 31 days from your last day of coverage.

For assistance, please call 866-365-2374.

 

 

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Use Securian Financial's online benefits decision tool, Benefit Scout®, to learn more about your life insurance benefits and options. By answering a few simple questions, you can determine the coverage that meets your needs and budget.

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