All benefits eligible employees are provided basic life insurance coverage for themselves.  Employees can also purchase the additional coverage listed in the video for themselves and dependents.

Life Insurance from Minnesota Management and Budget on Vimeo. Learn more about plan options below or on Securian's state of Minnesota website.

• Automatic Enrollment:
  • You are automatically enrolled in basic group term life insurance when you become eligible for benefits.
  • This coverage is provided at no cost to you, unless your employment status does not qualify for employer-paid benefits.

• Coverage Amount:
  • Based on your annual salary, up to a maximum of $95,000.
  • Your total benefit is determined by your salary and may vary by bargaining agreement.
  • The maximum allowable coverage is $200,000, based on salary.

• Guaranteed Coverage:
  • No Evidence of Insurability (EOI) is required if you enroll within 30 days of becoming eligible.
  • EOI is required if you enroll after your initial eligibility period. 

• Tax Implications:
  • Coverage amounts over $50,000 are subject to federal income tax.
  • You may decline coverage above $50,000 to avoid this tax.
  • If you waive coverage above $50,000 and later wish to enroll (e.g., during Open Enrollment), EOI will be required.

• Coverage Options:
  • Available to purchase in $5,000 increments, up to a maximum of $500,000.
• Guaranteed Coverage for New Employees:
  • You may elect up to two times your base salary without providing Evidence of Insurability (EOI), if elected within 30 days of your hire date.
• Guaranteed Coverage for Newly Eligible Employees:
  • If you become benefits-eligible after your hire date, you may still elect up to two times your base salary without EOI, if elected within 30 days of your eligibility date.
• EOI Requirements:
  • Required for any coverage amount above two times your base salary.
  • Required if you apply after the 30-day eligibility window.
• Enrollment Flexibility:
  • You may apply for or adjust this coverage at any time during the year.
  • EOI may be required depending on the amount and timing of your request.

• Coverage Amounts:
  • Available in $5,000 increments, up to a maximum of $500,000.
• Guaranteed Coverage:
  • As a new employee, you may elect up to $10,000 in coverage without Evidence of Insurability (EOI), if elected within 30 days of your initial eligibility date.
  • If you become benefits-eligible after your hire date, you may still elect up to $10,000 in guaranteed coverage within 30 days of becoming eligible.
• EOI Requirements:
  • Required for any amount above $10,000.
  • Required if coverage is elected after the 30-day eligibility window.
• Enrollment Flexibility:
  • Coverage can be elected at any time during the year (subject to EOI if applicable).
• Coverage Limitations:
  • You cannot elect more coverage for your spouse than you have for yourself.
  • If both you and your spouse (or another family member) are employed by the State of Minnesota or another organization participating in the State Employee Group Insurance Program (SEGIP), neither may cover the other as a dependent for Life or AD&D insurance while both are benefits-eligible.

• Coverage Amount:
  • Flat benefit of $10,000 per eligible child.
• One Premium Covers All: A single premium covers all eligible dependent children.
  • For details on who qualifies as an eligible child, visit the Family Eligibility page.
• Guaranteed Coverage:
  • As a new employee, coverage is guaranteed if elected within 30 days of your hire date.
  • If you become benefits-eligible after your hire date, coverage is guaranteed if elected within 30 days of your eligibility date.
• Enrollment After Initial Eligibility:
  • Guaranteed coverage may be elected during annual Open Enrollment—no Evidence of Insurability (EOI) required.
  • Coverage may also be elected at any other time during the year, but EOI will be required.
• Coverage Limitation:
  • If both parents are employed by the State of Minnesota or another organization participating in the State Employee Group Insurance Program (SEGIP), only one parent may cover their eligible children.

• What It Covers:
  • Provides financial protection in the event of accidental death or serious injury (such as loss of a limb, sight, or hearing).
• Guaranteed Coverage:
  • All coverage is guaranteed—no Evidence of Insurability (EOI) is required.
• Enrollment Flexibility:
  • You may elect or change this coverage at any time during the year.
• Coverage Amounts:
  • Available in $5,000 increments, up to a maximum of $200,000.

• What It Covers:
  • Provides financial protection in the event your spouse experiences accidental death or serious injury.
• Guaranteed Coverage:
  • All coverage is guaranteed—no Evidence of Insurability (EOI) is required.
• Enrollment Flexibility:
  • You may elect this coverage at any time during the year.
• Coverage Amount:
  • Available up to a maximum of $25,000.
  • You cannot elect more coverage for your spouse than you have for yourself.
• Age Limitation:
  • Coverage ends when your spouse reaches age 70.
• Coverage Restrictions:
  • If both you and your spouse (or another family member) are employed by the State of Minnesota or another organization participating in the State Employee Group Insurance Program (SEGIP), neither may cover the other as a dependent for Life or AD&D insurance while both are benefits-eligible.

• Federal Tax Rule:
  • Under IRS regulations, the value of employer-paid life insurance over $50,000 is considered taxable income, known as “imputed income.”

• How to Estimate Your Taxable Amount:
  • Use the IRS table on page 15 of the [2025 Employer’s Guide to Fringe Benefits] to calculate your imputed income.
  • The table shows the monthly tax per $1,000 of coverage over $50,000, based on your age:

    Monthly Cost of Life Insurance per $1,000 of Coverage

    (IRS Table 2-2: For Use in 2025)

    Table display Cost Per $1,000 of Protection for 1 Month

    Age Range	Monthly Cost per $1,000
    Under 25	$0.05
    25 through 29	$0.06
    30 through 34	$0.08
    35 through 39	$0.09
    40 through 44	$0.10
    45 through 49	$0.15
    50 through 54	$0.23
    55 through 59	$0.43
    60 through 64	$0.66
    65 through 69	$1.27
    70 and older	$2.06

• Coverage Update:
  • As of January 1, 2025, the maximum value of the State’s Basic Life Insurance increased to $200,000.
  • Employees earning more than $95,000 annually may see an increase in taxable income due to this change.

• Waiving or Reinstating Coverage:
  • To decline coverage above $50,000, submit the Request to Waive Taxable Life Insurance Benefit form to SEGIP.
  • To reinstate the benefit later, submit the same form to SEGIP.

• Where to Find Your Taxable Income:
  • Check the “Employer Paid Benefits” section of your paycheck.
  • It also appears in Box 12C on your W-2 form.

• Manage your Beneficiary
• Evidence of Insurability (EOI)
• Premium Information
• Waiver of premium upon disability
• Life Insurance, Accidental Death & Dismemberment Contact
• Plan Certificates

Learn more about the information above by visiting SEGIP's Life Insurance page or on Securian's state of Minnesota webpage.