Life Insurance

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Term Life Insurance

Our District participates in the Wisconsin Public Employers Group Life Insurance Program, which is administered by the Department of Employee Trust Funds and provides group term life insurance coverage for state and local employees.  The coverage is underwritten by Minnesota Life Insurance.

Coverage Options:

  • Basic Term Life:  Provides one times previous year’s WRS earnings, rounded to the next higher $1,000 (if not already a multiple of $1,000).
    • At age 70 (if still actively employed), coverage for employees automatically continues and reduces to 25%*. No further premiums are due from the employee to continue this coverage. 
    • If retired, coverage continues at 100% until age 65. • Coverage reduces to 75% at age 65, 50% at age 66, and 25%* at age 67. •
    • Premiums are deducted from monthly annuity until age 65. Thereafter insurance is free for the lifetime of the retiree. 
  • Supplemental Term Life:  One times previous year’s WRS earnings, rounded to the next higher $1,000 (if not already a multiple of $1,000). At age 70 (if still actively employed), coverage for employees terminates. If retired, coverage continues at 100% until age 65 and then coverage ends.
  • Additional Term Life:  One, two or three times previous year’s WRS earnings, rounded to the next higher $1,000 (if not already a multiple of $1,000). If retired, coverage continues at 100% until age 65 and then coverage ends. * 50 percent for local governments who have opted for the higher post-retirement benefit.
  • Spouse and Dependent Term Life: Coverage options available:
    • Spouse/Domestic Partner** – $10,000 Each dependent child – $5,000  
    • Spouse/Domestic Partner** – $20,000 Each dependent child – $10,000 •
      • An insured employee’s lawful spouse/domestic partner* and dependent children are eligible for coverage. • Eligible child is defined as age 14 days to 19 years (or up to age 25 if a full-time student at an accredited post-secondary school). Coverage may continue for handicapped children. Coverage ceases when employee reaches age 70 or retires, whichever occurs first.

COST TO PARTICIPATE

ENROLLMENT APPLICATION
Evidence of Insurability Application for Late Enrollment
Beneficiary Designation

Program Booklet