Basic Life Insurance
The State's contribution toward your basic life insurance premium ends upon retirement. Retirees have the option to continue this coverage at their own expense according to the Minnesota state continuation law. This states that group life insurance can be continued for up to 18 months, or until you are eligible for coverage under a new group plan, whichever occurs first.
- Talk with your Human Resources benefits representative or contact Minnesota Management & Budget (MMB) for instructions on how to obtain and complete the necessary paperwork. Upon MMB's receipt of the retiree's request for continuation, MMB will send a bill and instructions for premium remittance to the retiree's home. For the current "continuation" premiums rates, contact MMB.
- At the end of the 18-month continuation period, group eligibility ends. Retirees have the option of converting this coverage to a policy of individual life insurance. If the retiree converts coverage within 31 days, conversion to the new policy is guaranteed; there are no health questions, no physical exam to take - you cannot be denied coverage.
Minnesota Management & Budget will notify you when are nearing the end of your 18-month period with instructions on how to pursue the Conversion Privilege.
Optional life Insurance - No-cost post-retirement death benefit (PDB)
To qualify, you must be eligible as a retiree under your collective bargaining agreement or plan as set forth in MN Statute Section 43A.27, Subdivision 3.