Group Term Life Insurance
The Health Insurance Management Board is authorized by state law to provide certain specified group life insurance benefits for active employees and retirees. The Board currently contracts for a fully insured group term life insurance policy with Aetna Life Insurance Company to provide these benefits to eligible employees and retirees of State agencies, universities, public libraries, and certain community/junior colleges and public school districts. Those community/junior colleges and public school districts that are not covered in the Boards’ policy with Aetna have elected to opt out of the State and School Employees’ Life Insurance Plan (Plan) and instead purchase similar coverage through an alternative policy from a private carrier. The following information pertains primarily to coverage under the Aetna policy in the State and School Employees' Life Insurance Plan only. Questions relative to the aforementioned alternative policy should be directed to the respective community/junior college or public school district, or to the private carrier.
The State of Mississippi offers group term life insurance coverage for active full-time employees. Life insurance coverage can be continued when a covered employee retires or becomes totally disabled (as determined by the insurance company). The following is a summary of the pertinent information relative to the State and School Employees’ Life Insurance Plan. Participants should refer to the Your Group Plan booklet for a comprehensive description of the benefits and policy provisions. Active employees should contact their employer for a Your Group Plan life insurance summary of coverage booklet, while participating retirees and totally disabled employees should contact the Department of Finance and Administration, Office of Insurance for a booklet.
At a Glance…
Aetna Life Insurance Company Amount of Life Insurance
Aetna Life Insurance Company is the insurer for the State and School Employees’ Life Insurance Plan.
Active Employees: the amount of life insurance is equal to 2 times the annual salary, raised to the next higher thousand.
Retirees may continue their term life insurance coverage at a reduced benefit level of $5,000, $10,000, or $20,000. Participating employees who retired prior to 10/1/1999 are limited to benefit levels of $2,000, $4,000, or $10,000.
Totally disabled employees approved for continued coverage by Aetna can continue group term life insurance coverage with the same amount of term life insurance coverage they had as an active employee.
Dependents are not eligible for this life insurance coverage.